Startup profile · funding coverage
Fei Protocol
Algorithmic USD stablecoin protocol that merged with Rari Capital — both wound down after 2022 exploits.
Stage
See coverage
Status
shutdown
Coverage
full
Why Fei Protocol is interesting
Fei/Rari's Tribe DAO collapse after an $80M Fuse exploit became a case study in DeFi governance, reimbursement fights, and SEC enforcement on unregistered pool offerings.
Key facts
- Seed (Mar 2021): $19M led by a16z; Framework, Coinbase Ventures, Variant named (CoinDesk)
- Merged with Rari Capital (Dec 2021); Tribe DAO wind-down proposed Aug 2022 after $80M Fuse exploit (Bankless)
- SEC settled charges against Rari Capital entities in 2024 (SEC press release)
- Co-investors not in VCT directory: Framework, Variant, Coinbase Ventures
Investors in our directory
Funds linked from Fei Protocol's profile — open a fund page for stage focus and related deal articles.
Industries
Crypto & Web3 Fintech
Industry hub pages are rolling out from our fund-derived baseline taxonomy.
Related funding articles
Venture Capital Tracker pieces that cover Fei Protocol's financing or category context.
FAQs about Fei Protocol
Funding context and why this company shows up in venture coverage.
Fei Protocol was a DeFi project that issued the FEI algorithmic stablecoin and later merged with Rari Capital's lending platform under Tribe DAO.
Andreessen Horowitz (/fund/andreessen-horowitz) led Fei Protocol's $19M seed round in March 2021.
After Rari's Fuse pools were exploited for ~$80M in April 2022, Tribe DAO voted to wind down operations and redeem FEI holders.
The exploit left lending pools with bad debt; governance disputes over reimbursement led to a formal wind-down rather than continued operations.
No — Fei Protocol and Rari Capital ceased operations in 2022; related entities faced SEC enforcement in 2024.
Last updated: 2026-07-24