# Fei Protocol

> Algorithmic USD stablecoin protocol that merged with Rari Capital — both wound down after 2022 exploits.

## Why it 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.

## Profile

- **Stage:** other
- **Status:** shutdown
- **Industries:** crypto-web3, fintech
- **Coverage:** full
- **Last updated:** 2026-07-24

## 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

- https://venturecapitaltracker.com/fund/andreessen-horowitz

## Related articles

- https://venturecapitaltracker.com/2026-a16z-hot-portfolio-companies

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Source: https://venturecapitaltracker.com/startup/fei-protocol