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Yearn's YFI Drops Following a USD 11M-Heavy Exploit
5.2.2021
Decentralized finance (DeFi) protocol yearn.finance's YFI dropped more than USD 4,000 after one of its DAI lending pools was drained of USD 11m in an exploit.
Yearn's YFI governance token saw an abrupt USD 4,190 drop last night. Though the price has increased somewhat, it's still lower than...
'DeFi Will Eat JPMorgan' But There Are Risks Before That Meal
3.2.2021
Decentralized finance (DeFi) protocols are estimated to grow in a decade or two to tower over legacy financial substitutions, such as major US-based investment bank JPMorgan, but there are specific, inherent risks that still need to be dealt with.
"DeFi will eat JPMorgan," according...
DeFi Trends to Watch Out For in 2021 According to ConsenSys and Kraken
27.1.2021
The world of decentralized finance (DeFi) this year, among other developments, will likely see rising popularity of tranche lending, increased use of Layer 2 protocols as a scaling solution, faster tokenization on Ethereum (ETH), and improved mobility of staked ETH, estimates ConsenSys Codefi,...
Travel Firm Backed for USD 50m in Bid to Develop ‘Killer DeFi App’
18.1.2021
Travel industry player Maps.me has taken the DeFi plunge with a USD 50m fundraising effort it has described as “an investment into the embedded DeFi ecosystem.”
In a press release shared with Cryptonews.com, the firm revealed that its backers in the USD 50m drive include the Berkeley and Hong...
South Korean Software Behemoth Hancom Wades into DeFi Arena
7.1.2021
A group of South Korean companies, including a subsidiary belonging to the software giant Hancom is set to launch a DeFi (decentralized finance) project – marking a first for a collective of major companies for the nation.
Per Aju News, the group will comprise Hancom’s blockchain and industry...
Thief Steals USD 8.2m From Nexus Mutual Founder in a 'Targeted Attack'
14.12.2020
There's been another theft in the Cryptoverse - this time a 'personal' one, as attackers have taken more than USD 8.2m from the account of Hugh Karp, the founder of decentralized finance (DeFi) insurance protocol Nexus Mutual.
Nexus Mutual announced the news in a Twitter post today, stating that...
New Regulatory Lemons Await Somewhere Between DeFi & CeFi
11.12.2020
While local and global regulators are yet to target the nascent DeFi (decentralized finance) world, some industry players warn that the interaction between DeFi and CeFi (centralized finance) sectors will bring even more unanswered questions.
There is a constant interaction between the DeFi...
YFI and SUSHI Rally as DeFi Superpowers Headed for Merger
1.12.2020
Source: Adobe/Nik_Merkulov
The DeFi protocol yearn.finance (YFI) is set to merge with SushiSwap (SUSHI), another leading DeFi protocol, with their respective tokens surging.
SUSHI is up 27% in the past 24 hours, trading at USD 1.87 (09:11 UTC), YFI jumped by almost 8%, to USD 27,380.
Per a blog...
4th Major DeFi Hack In A Month: Origin Dollar Loses USD 7m
17.11.2020
"A superior stablecoin for the Ethereum network," Origin Dollar (OUSD), has been hacked, becoming at least the fourth decentralized finance (DeFi) project, attacked less than in a month.
"There has been a loss of funds of around USD 7m, including over USD 1m of funds deposited...
DeFi Akropolis Drops 20% Following a USD 2M-Heavy Hack
13.11.2020
Decentralized finance (DeFi) platform Akropolis is seeing its native coin AKRO drop nearly 20% in a day so far, following a hack that made the attacker some USD 2m richer.
AKRO, ranked 268th by market capitalization on Coinpaprika, is trading at USD 0.0097 this morning (at 7:27 UTC). It dropped...
Binance Convinces DeFi Scammer To Return Funds + More News
4.11.2020
Source: a screenshot, Instagram/binance
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.
Exchanges news
Binance announced that its Security team helped recover 99.9% of an estimated USD 345,000...
Tron's JustLink Said to be a Chainlink 'Copy-Paste'; Tron Mainnet Attacked
2.11.2020
Following the launch of JustLink as an "oracle answer for Chainlink on Tron," some are thinking it's more than just an answer - accusing the team behind the network and the project's founder Justin Sun of another blatant copy-paste. Meanwhile, the network's mainnet suffered an attempted...
yearn.finance Loses Crown To Bitcoin While Cronje’s Keep3r Rallies 1,000%
29.10.2020
DeFi darling yearn.finance (YFI), a token that was beating out bitcoin (BTC) for the top spot as the most valuable crypto on the market, keeps tanking while its founder’s new token skyrocketed by more than 1,000% in a day.
Despite BTC being the most popular cryptocurrency in the world, garnering...
Asian Banks Prepare Crypto Takeoff as Thailand’s SCB Revs DeFi Engines
29.10.2020
Siam Commercial Bank (SCB), one of Thailand’s biggest commercial banks, is set to invest in a local DeFi player through a subsidiary – in a week when banks all over Asia have shaped up to make major moves in the crypto scene.
Per an official announcement from the Thai “ecosystem of cross-chain DeFi...
Harvest Finance Attacked, Reportedly USD 24M Lost, FARM Down 50%
26.10.2020
Source: Twitter/@harvest_finance
Another decentralized finance (DeFi) project, Harvest Finance, has suffered a flashloan attack that lasted for seven minutes, with reportedly at least USD 24m exploited.
The DeFi side of the Cryptoverse has been on high alert in the last six hours, with many...
Dash Rallies On A DeFi Bridge
20.10.2020
Dash (DASH), one of the most widely adopted cryptocurrencies in the market, outperformed 98 largest coins by market capitalization today, rallying on a decentralized finance (DeFi)-related partnership news.
At the time of writing (12:08 UTC), DASH is trading at a price of almost USD 74, jumping...
Ex-bank Boss Lebedev Says 'Parasitic' 'Banks Pocket Clients Money,' Touts DeFi
13.10.2020
Alexander Lebedev. Source: a video screenshot, Youtube/Александр Лебедев
A Russian media mogul and former bank chief who is set to launch an ambitious new, DeFi-themed cryptobank project in Switzerland has taken a swipe at the conventional banking system and countries that allow themselves...
Decentralized Exchange on Ethereum Is Not Sustainable - FTX CEO
8.10.2020
Despite this summer’s success for Ethereum (ETH)-based decentralized exchanges (DEXes) like Uniswap and its fork SushiSwap, the SushiSwap saviour and CEO of centralized crypto derivatives exchange FTX, Sam Bankman-Fried, argued that Ethereum – as it is now – is not the best place to host...
No DeFi Bubble, But Merely ‘a Blip’
7.10.2020
Despite people arguing that a bubble is currently deflating in the decentralized finance (DeFi) space, the popular author and crypto venture capitalist Chris Burniske suggested remembering 2017 to get a better perspective of what a bubble really is.
Burniske, who is a partner in the crypto-focused...
BitMEX Case Might Prompt a Closer Regulatory Look into DeFi
6.10.2020
The latest crackdown on the world’s first crypto derivatives exchange, BitMEX, might turn the regulatory eye towards the decentralized finance (DeFi) space, said financial services platform BitOoda.
"In our view, we will not be surprised if/when regulators take a closer look at DeFi platforms...