PANews reported on November 28 that according to The Block, the DeFi derivatives protocol Cega announced that it will be acquired by a "leading platform" and will cease operations by the end of the year. The Cega platform no longer accepts deposits and urges users to start withdrawing cash because the protocol's products will cease operations by the end of the year. The Cega team did not disclose which "leading platform" acquired the DeFi protocol or how much the acquisition amount was. A Cega team member on Discord wrote: "The acquirer chose to keep it confidential."
Earlier news , Cega raised $5 million in new funds 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: "Although Cega as you know it is coming to an end, the mission to push the boundaries of DeFi continues, and you may see us reappear elsewhere."
