Michael Patryn, the convicted money launderer and co-founder of the infamous Canadian crypto-trading platform Quadriga who went on to become a decentralized finance icon under the pseudonym Sifu, has launched a new crypto lending protocol called UwU Lend. (The Defiant)
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Michael Patryn, the convicted money launderer and co-founder of the infamous Canadian crypto-trading platform Quadriga who went on to become a decentralized finance icon under the pseudonym Sifu, has launched a new crypto lending protocol called UwU Lend. (The Defiant)
Talking point: We’re in the cold heart of a crypto winter. Major protocols for DeFi, a form of blockchain-powered software that offers decentralized bank-like services, saw a surge in activity and investor interest in 2021, but have now collapsed. Patryn was ousted as treasury manager of one such protocol, called Wonderland, once his identity became public. Yet UwU Lend has already attracted US$54.5 million in total value locked in contracts on the platform. Crypto news site The Defiant noted he has more than enough to retire, based on the value of crypto in his public wallet, but chooses instead to ignore the haters and launch something new.
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