PANews November 28 news, according to The Block, the DeFi derivatives protocol Cega announced it will be acquired by a 'leading platform' and will cease operations by the end of the year. The Cega platform is no longer accepting deposits and urges users to begin withdrawals, as the protocol's products will stop operating by the end of the year. The Cega team did not disclose which 'leading platform' is acquiring this DeFi protocol, nor the acquisition amount. A team member from Cega wrote on Discord: 'The acquirer has chosen to remain confidential.'
Previously reported, Cega raised $5 million in new funding in March 2023, when its valuation exceeded $60 million. However, Cega co-founder and CEO Arisa Toyosaki declined to disclose the specific valuation. Toyosaki wrote on X: 'While the Cega you know is coming to an end, the mission to push the boundaries of DeFi continues, and you may see us reappear elsewhere.'