Compound revamps leadership, approves record $52M budget to target institutions

Compound Finance has replaced senior management and approved a record $52 million budget as it seeks to revive growth after total value locked fell from a 2021 peak of $12 billion to $1.2 billion, CoinDesk reported. The protocol is focusing on attracting institutional clients by developing real-world asset products, integrating with partners, and building credit infrastructure designed to meet existing financial regulatory requirements and technical standards. As part of that push, Compound appointed former Near Protocol COO Christopher Donovan, former Maple Finance executive Steven Liu, and former Coinbase Custody CEO Aaron Schnarch, according to CoinDesk.