Audits and rug-pulled projects, a $650B token burn, and major DeFi protocol quits UK: Finance Redefined By Cointelegraph

Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week.

The past week in DeFi was filled with bullish resurgences for many projects, but it was the founder’s $650 billion HayCoin (HAY) burn — 99% of the token supply — that grabbed headlines. In other news, a new report highlighted that 85% of the rug-pulled DeFi projects in Q3 didn’t report an audit, and the largest DeFi protocol on has shut down its United Kingdom operations due to strict regulations imposed by the Financial Conduct Authority (FCA).