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Coinbase Became A Member Of The Chicago Defi Alliance

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Crypto exchange Coinbase has announced that it has joined the Chicago DeFi Alliance (CDA) to interact with decentralized finance (DeFi) projects.


The CDA Alliance was established in April 2020 to provide funding for startups developing in the DeFi field.

 

DeFi Alliance is led by employees of financial firms and cryptocurrency platforms, including Imran Khan co-founder of Volt Capital, Colleen Sullivan CEO of CMT Digital, Robert Leshner founder of Compound, and Stani Kulechov head of Aave.

Coinbase CEO Brian Armstrong said that one of the priority tasks of the exchange after joining CDA is to provide wider access to DeFi applications. Chicago DeFi Alliance partner Jacob Franek said that Coinbase has become one of the exchanges that have influenced the spread of cryptocurrencies around the world.

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The alliance’s mission is to create an open financial system, and DeFi can play a significant role in this. CDA is open to cooperation with all interested parties who are ready to support young projects working in the DeFi industry.

Recall that last year, Coinbase introduced a price oracle to ensure the security of digital assets locked in  DeFi protocols.

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Ammarahttps://thecryptobasic.com/
Ammara Mubin is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Ammara authored more than 1,000 stories for TheCryptoBasic, CryptoComes and other fintech media outlets. She is particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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