DeFi ‘Godfather’ Cronje Quits, CAKE Launches $100M Venture Arm & More

The decentralized financial (DeFi) ecosystem had a pretty eventful week with several new developments and price action. The week kicked off with DeFi “Godfather” Andre Cronje announcing his departure from most of his projects, leading to a massive price drop on projects Cronje was associated with.

CAKE DeFi launched a new $100 million venture fund to support Web3 initiatives, ThorChain spiked over 34% after activating synthetic assets, and the Polygon network suffered a long-term outage after another upgrade impacting price momentum.

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