OKEx has frozen withdrawals, audit firms are experiencing a backlog of DeFi projects and the Trump administration is examining DLT for national defense.
Crypto code audit firms say they are swamped with decentralized finance (DeFi) projects. Three of the most well-regarded auditors in the space – OpenZeppelin, Quantstamp and Trail of Bits – told CoinDesk’s William Foxley they are all booked until at least Q1 2021. For example, Quantstamp’s Juliano Martinez said the “high volume” of applicants has led to his company “rejecting lots of projects.” The months-long backlog comes amid a sharp pullback across the $11 billion DeFi market, with most tokens down 19% over the last 30 days, according to Messari.
Coinbase is sponsoring at least two Bitcoin Core developers with its new Crypto Community Fund. The San Francisco-based exchange announced the grant program Thursday, after years of pushback from the crypto community that Coinbase was profiting from bitcoin’s open-source nature without paying in.