Vaults FYI

GSR is backing Hare, a new onchain vault business built with Turtle, with a $100 million multi-year commitment. The venture will begin with Aave-powered vaults for major dollar stablecoins and Paxos tokenized gold products.

SEC Commissioner Hester Peirce said some crypto vaults and onchain lending strategies may fall within federal securities laws depending on how they are structured and managed. The comments weighed on Morpho’s token and sharpened the regulatory focus on one of DeFi’s fastest growing yield sectors.