Compound Revamps Leadership, Approves $52 Million Budget to Woo Institutional Investors
Summary
- Compound Finance overhauled its leadership team and approved a $52 million budget.
- Compound plans to focus on attracting institutional investors after its TVL fell from $12 billion to about $1.2 billion.
- Compound said it will pursue real-world asset (RWA) product development, broader partner integrations, and the buildout of credit infrastructure.
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DeFi lending protocol Compound Finance has overhauled its leadership team and approved a $52 million budget.
CoinDesk reported on August 17 that Compound plans to focus on attracting institutional investors as it tries to revive growth. The protocol’s total value locked has dropped to about $1.2 billion from a 2021 peak of $12 billion.
Compound plans to develop real-world asset, or RWA, products, expand integrations with partners, and build credit infrastructure designed to meet traditional financial regulations and technical standards.
As part of that push, Compound appointed Christopher Donovan, former chief operating officer of Near Protocol, Steven Liu, a former executive at Maple Finance, and Aaron Schnarch, former chief executive officer of Coinbase Custody, to its leadership team.
