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S&P Global Ratings Forms DeFi Group to Build Out Crypto Framework
The credit rating giant named Chuck Mounts as chief DeFi officer to lead the unit.
Updated May 11, 2023, 4:17 p.m. Published May 16, 2022, 10:03 p.m.
S&P Global’s (SPGI) ratings division has created a decentralized finance (DeFi) strategy group to help build the company’s decentralized market framework for investors.
- Chuck Mounts will lead the group as chief DeFi officer, and will work closely with the newly appointed head of DeFi transformation, Charles Jansen, according to a statement Monday.
- The team seeks to build out S&P’s analytics and risk assessment capabilities for both traditional finance and DeFi clients
- S&P’s move comes after fellow major credit rating player Moody’s said last year it was looking to hire crypto analysts to come to grips with “the potential wide-reaching impact of decentralized finance on existing ecosystems.”
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Pye Finance Raises $5M Seed Round Led by Variant and Coinbase Ventures
The platform aims to make locked Solana staking positions tradable via an onchain marketplace.
What to know:
- Pye Finance raised a $5 million seed round led by Variant and Coinbase Ventures, with participation from Solana Labs, Nascent and Gemini.
- The startup is building an onchain marketplace on Solana for time-locked staking positions that can be traded.
- Pye says the product targets Solana’s large pool of staked SOL, worth roughly $75 billion, and aims to give validators and stakers more flexibility over terms and reward flows.
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