Biweekly, we’ll round up the hottest news across the DeFi ecosystem to help you keep up to speed. 

Tether on Thursday added to its roster of stablecoins, launching its MXNT token pegged to Mexico’s peso. The token will initially be supported in the Ethereum, Tron and Polyong blockchains, the company said. (CoinDesk

Tokens underpinning the popular “move-to-earn” crypto app Stepn have plummeted following news that the game would be blocked for users in Mainland China. The associated tokens, Green Satoshi Token (GST) and the STEPN token (GMT), immediately dropped double-digits following Thursday’s announcement. (DeCrypt

A subsidiary of Fidelity Investments that launched a few years ago to let institutional investors store and trade bitcoin plans to double its head count this year as it predicts rising demand for cryptocurrency amid market volatility. (WSJ

We just got into Layer 2, but now folks are talking about Layer 3? This is what they mean. (Twitter

Speaking of Layer 2, a notable team working on Ethereum scaling is StarkWare, who just raised a Series D at an $8B valuation. (Twitter

So no, the bear market does not mean the death of crypto, and that’s evidenced by continuous smart-money-funding happening across the space, including a6z raisinig a $4.5B fund just for crypto. (The Block

Three and a half years after its launch, Uniswap is still one of the top protocols in DeFi.  The Uniswap protocol has surpassed a lifetime cumulative trading volume of $1 trillion, despite its struggling token price. (CryptoBriefing