The largest decentralized lending protocol MakerDAO previously approved a plan to invest $1.6 billion with Coinbase Prime for an annual yield of 1.5%, but this latest plan didn't fly.
Short investment products accounted for 75% of total inflows into crypto assets last week, a report by digital asset investment and trading group CoinShares showed.
The largest inflows in 14 weeks, at $42 million, coincided with the crypto market's sharp downturn, triggered by the swift collapse of once-billionaire Sam Bankman-Fried’s business empire.
The digital asset management platform said the new tool aggregates different data sets to determine how much an NFT on OpenSea might be worth. But some users weren't happy with lower-than-expected numbers.
The majority of outflows were from "short" investment products, or those betting on price declines, according to CoinShares. It might be a sign that bearish sentiment is dissipating.
Europe's largest digital asset management company continues to develop crypto-focused financial products and maintains an edge over peers, said the analyst.