Flying Tulip, founded by Andre Cronje, raised formatNumber(200, 2) million USD at a formatNumber(1, 2) billion valuation through investors including Brevan Howard Digital and CoinFund, with plans to issue an FT token. Flying Tulip’s fundraise signifies a pivotal moment in DeFi, potentially enhancing institutional investment in the sector, paralleling trends seen with Uniswap and dYdX.