*By Tanaya Macheel and Jacqueline Corba*
Crypto start-up Compound launched money markets for Ethereum assets on Thursday.
"This allows pretty much anybody, anywhere in the world at anytime to earn interest on their Ethereum assets with a secure protocol," Compound co-Founder and CEO Robert Leshner told Cheddar's Crypto Craze.
"So if you hold Ether, if you hold a series of tokens that we're supporting, there's incremental returns."
Leshner said this open source protocol is built on Ethereum, and everything is managed directly through a smart contract.
Compound's product initially supports Ether, 0x Protocol, Basic Attention Token, and Augur. And the company's ultimate goal is to create an easy-to-use money market for investors looking to tap into this emerging market.
Crypto giant Coinbase participated in Compound's $8.2 million seed funding round back in May.
"I believe they invested, because Compound fits in with their vision of opening up access to finance to pretty much everybody around the world," Leshner said.
Other investors in the company include Andreessen Horowitz, Polychain Capital, and Bain Capital Ventures.
For full interview [click here](https://cheddar.com/videos/compound-launches-money-markets-for-ethereum-assets).
Construction of new homes rose by double digits in November, according to data from the Commerce Department.
Cheddar News' Need2Know is brought to you by Securitize, which helps unlock broader access to alternative investments in private businesses, funds, and other alternative assets. The private credit boom is here and the Hamilton Lane Senior Credit Opportunities Fund has tripled in assets under management in just six months from November 2022 through April this year. Visit Securitize.io to learn more.
Stocks opened lower after the opening bell and on track for its first decline in 10 days after a recent winning streak.
Tesla drivers in the U.S. were in more accidents than drivers of any other car brand this year, according to a study.
The promise of self-checkout was alluring: Customers could avoid long lines by scanning and bagging their own items, workers could be freed of doing those monotonous tasks themselves and retailers could save on labor costs.
Monsanto was ordered to pay $857 million to students and parent volunteers at a Washington school.
A federal judge has struck down hundreds of lawsuits filed against the makers of Tylenol and generic acetaminophen.
California regulators are preparing to vote on new rules for turning recycled wastewater into drinking water.
Hackers accessed Xfinity customers’ personal information by exploiting a vulnerability in software used by the company, the Comcast-owned telecommunications business announced this week.
Some folks want to leave the cold for a quick getaway. Bobby Laurie, travel expert, joined Cheddar News to provide tips on how and when to look for a winter escape.
