### PayPal, along with Galaxy Digital, has recently invested $20 million into Chaos Labs, a startup focused on improving the security of decentralized finance (DeFi) platforms. 

The investment is part of PayPal and Galaxy Digital’s wider efforts to support the growth of the blockchain and cryptocurrency industry, and to help protect users from the increasing number of DeFi hacks.



  <blockquote className="twitter-tweet"><p lang="en" dir="ltr">1/ We are thrilled to announce we have secured $20M in seed funding led by <a href="https://twitter.com/galaxyhq?ref_src=twsrc%5Etfw">@galaxyhq</a> and <a href="https://twitter.com/PayPal?ref_src=twsrc%5Etfw">@PayPal</a> Ventures to automate on-chain risk optimization! 🔐 <a href="https://t.co/LxEmwqfsD1">pic.twitter.com/LxEmwqfsD1</a></p>— Chaos Labs (@chaos_labs) <a href="https://twitter.com/chaos_labs/status/1628036136454045696?ref_src=twsrc%5Etfw">February 21, 2023</a></blockquote>


While DeFi platforms have seen significant growth in recent years, they have also been the target of numerous hacks and security breaches. These incidents have led to the loss of millions of dollars worth of cryptocurrency and have eroded trust in the technology.



Chaos Labs is a young startup that is working on improving the security of DeFi platforms by providing a suite of tools and services to help developers build more secure applications. The goal of the startup is to enhance the safety and security of crypto protocols by utilizing cutting-edge technology and risk management expertise. By doing so, the company supports protocols in navigating the frequently volatile crypto markets and enables them to make well-informed decisions.



The investment from PayPal and Galaxy Digital will help Chaos Labs to expand its platform and accelerate the development of new security tools. The investment is also a vote of confidence in the potential of DeFi, which PayPal sees as a key driver of the future of finance.



PayPal's investment is only the most recent step it has taken to encourage the development of the blockchain and cryptocurrency industries. The company stated in 2020 that users would be able to buy, hold, and sell cryptocurrencies on its platform. In 2021, it introduced a new service that lets users pay with cryptocurrencies at millions of merchants across the world.



By providing critical funding to a startup that is focused on improving the security of DeFi platforms, PayPal and Galaxy Digital is helping to ensure that this promising technology can continue to grow and thrive. As the crypto industry continues to mature, it is likely that we will see more investments like this, as companies seek to support the development of new technologies and services that can help make blockchain and cryptocurrency more secure and accessible for everyone.



 

PayPal, along with Galaxy Digital, has recently invested $20 million into Chaos Labs, a startup focused on improving the security of decentralized finance (DeFi) platforms. 

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Fri Feb 24 2023 PayPal & Galaxy Digital Take on DeFi Hacks with $20 Million Investment in Chaos Labs

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PayPal & Galaxy Digital Take on DeFi Hacks with $20 Million Investment in Chaos Labs