# Fei Labs raises 639K ETH in genesis event
“# Fei Labs raises 639K ETH in genesis event ” Fei Labs concluded a successful genesis launch of its Fei stablecoin on Saturday, raising nearly $1.3 billion in Ethereum (ETH) from over 17,000 contributors, highlighting once again the market’s growing appetite for digital assets and decentralized finance. A total of 639,000 ETH was committed to…