Share this article
A16z-Backed TrustToken Acquires EthWorks
Following the purchase, TrustToken plans to expand EthWorks’ open-source projects, including Waffle and useDApp.
Updated May 11, 2023, 5:45 p.m. Published Sep 15, 2021, 8:00 a.m. 1 min read
TrustToken, operator of decentralized finance (DeFi) lending protocol TrueFi and stablecoin TUSD, has acquired Web3 development firm EthWorks for an undisclosed amount.
TrustToken, which is backed by Andreessen Horowitz (a16z) and Sam Bankman-Fried’s Alameda Research, said it has put its recent funding round of $12.5 million towards the EthWorks acquisition.
Following the purchase, TrustToken’s team will have quadrupled in size, going from 10 people to 40. Once the EthWorks team has been fully onboarded by TrustToken, the team is expected to grow to over 100 members and expand its engineering, design and cybersecurity capabilities.
Read more: A16z, BlockTower, Alameda Back $12.5M Round for TrustToken
Prior to being acquired by the firm, EthWorks worked closely with TrustToken for over a year, contributing to the development of TrustToken’s DeFi projects.
TrustToken said it plans to expand EthWorks’ open-source projects including Waffle and useDApp, which are used by Ethereum developers globally.
Currently, the TUSD stablecoin is trading on Coinbase, Binance and FTX, as well as on decentralized exchanges such as Uniswap and Sushiswap. EthWorks has been involved in the development of open-source projects including Waffle and useDApp.
More For You
Bubblemaps investigators led by Nicolas Vaiman, discovered 80 bets on Polymarket with a 98% win rate that he said is statistically impossible to achieve.
What to know:
- Analysts at Bubblemaps say a cluster of 80 highly accurate bets on U.S. military actions against Iran on the Polymarket platform are so precise that “luck alone cannot explain” the results.
- Bubblemaps’ CEO warns that adversaries could mine prediction markets for clues to U.S. war plans, turning them into tools...
Top Stories
