Dharma Labs to Raise $7M in a Financial Round

Dharma Level, product for issuing digital assets backed loans, is in the final stage of testing
06 February 2019   1233

Dharma Labs startup, which is developing a decentralized lending platform for cryptocurrency traders and investors, raised $ 7 million in a round of financing, which was led by Green Visor Capital, CoinDesk reported.

The company was also supported by Coinbase Ventures, Polychain Capital, Y Combinator and Passport Capital.

The first product of a startup, Dharma Level, is in the final stage of alpha testing. Its stated goal is to simplify and cheapen the process of obtaining a loan secured by digital assets.

At the same time, Dharma Level operates with smart contracts, so loans are issued without the need for trust between the parties.

Representatives of a startup argue that their product offers more favorable conditions for margin trading in cryptocurrencies than Bitcoin exchanges. Moreover, traders will not need to use third-party extensions, since the Dharma Level interacts directly with the wallet.

Attracted investments, added to the company, will be used to expand the development team.

US OCC to Hire Coinbase's Chief Legal Officer

Brian Brooks will be the Office of the Comptroller of the Currency COO and  Senior Deputy Comptroller since 1st of April
17 March 2020   420

The U.S. Office of the Comptroller of the Currency (OCC) has recruited Coinbase's cryptocurrency exchange legal director, Brian Brooks, as its chief operating officer and first deputy head of department.

Brooks will take office on April 1st. He has been in charge of Coinbase's legal affairs since September 2018. At Brooks' new location, they announced that he would leave Coinbase and replace current COO Morris Morgan. Brooks is also a member of the board of directors of the mortgage company Fannie Mae, but will leave this post with a new appointment.

He is a visionary thinker with a passion for service and a deep understanding of how the financial services industry supports our nation's prosperity. We are fortunate to attract such an experienced and talented individual to join our federal agency.

 

Joseph Otting

Current Comptroller of the Currency

The Office of the Comptroller of the Currency is part of the US Department of the Treasury and supervises national banks. The agency has been operating since 1863 and is taking measures against banks, the practices of which it considers to be excessively risky.