Can Compound crypto’s $52M DeFi push send COMP toward $20?

In a major change in leadership, Compound Foundation announced a total leadership overhaul of its management structure.  According to the foundation, four executives joined the protocol’s management structure as part of its targeted expansion.

According to the report, Aaron Schnarch will take over as Executive director, and Christopher Donovan as the COO. Furthermore, Leo Eikelman takes over as Chief Tech Officer, while Steven Liu will be the CPO.

These appointments mark the largest leadership shake-up in the crypto industry over the past year. These changes are aimed at making Compound [COMP] a competitive asset.

Compound DAO deploys $52M for DeFi expansion

In addition to the leadership shake-up, Compound DAO approved  a major development fund of $52 million. The budget allocated $28 million to operations and $24 million to project growth over the next two years.

As per the reports, the $28 million will entail fields such as risk, marketing, and engineering. Moreover, the projects will seek the development of Compound V4. Additionally, $14 million was allocated to the foundation’s multisignature wallet. This major investment comes as Compound attempts to regain market share in the highly competitive lending market.