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DeFi
DeFi, short for decentralized finance, represents a shift in the financial sector by leveraging blockchain technology, primarily Ethereum, to eliminate traditional financial intermediaries. It enables various financial applications, from simple transactions to complex contracts, through smart contracts that execute automatically under specific conditions. Key DeFi applications include decentralized exchanges (DEXs), stablecoins, lending platforms, and prediction markets. DeFi offers financial services like loans and interest-earning opportunities without traditional identity verification, relying instead on collateral, usually in cryptocurrency. This innovative sector promises increased accessibility and efficiency but comes with risks, such as market volatility and unregulated projects.
India Crypto Bill Awaits Approval, Poly Network Hack Saga Continues
India’s finance minister says long-delayed crypto bill awaiting cabinet approval. Microsoft unveils Argus' anti-piracy plans. Poly Network hack saga rumbles on. We’ll have more on those stories and other news shaping the cryptocurrency and blockchain world in this episode of "The Daily Forkast."
Pro-Crypto Advocate Rep. Darren Soto on Infrastructure Bill: ‘Ignorance Is Our Greatest Foe and Not Necessarily Partisanship’
Does crypto have a strong enough lobbying presence in D.C.? This week, the Senate passed the historic $1 trillion bipartisan infrastructure bill without any crypto amendment, raising concerns about its controversial definition of “broker.”
Poly Network Hacker Returns Most of Stolen Funds, Refuses $500K Reward
The attacker behind the Poly Network hack who drained the decentralized finance (DeFi) platform of over $600 million in crypto has returned most of the stolen funds. Poly offered a $500,000 "Bug Bounty" reward to the hacker for returning the funds, but the hacker declined. "The Hash" panel discusses the ongoing drama around the largest hack in decentralized finance (DeFi) history and whether it appears to be coming to an end.
Crypto Fundraising DAO Loses Over $7M in Latest Crypto Exploit
Another day, another decentralized finance (DeFi) hack. DAO Maker, a fundraising platform for upcoming crypto projects that has no relation to the more widely known MakerDAO, was exploited Thursday, resulting in a loss of more than $7 million. "The Hash" team discusses the potential downside of DeFi's composability: with great possibility comes great risk.
Crypto Fundraising DAO Loses Over $7M in Latest Crypto Exploit
Another day, another decentralized finance (DeFi) hack. DAO Maker, a fundraising platform for upcoming crypto projects that has no relation to the more widely known MakerDAO, was exploited Thursday, resulting in a loss of more than $7 million. “The Hash” team discusses the potential downside of DeFi’s composability: with great possibility comes great risk.
What’s Going On With Poly Network?
An address associated with the hacker who allegedly drained cross-chain decentralized finance (DeFi) platform Poly Network of roughly $600 million Tuesday has started to return the funds. “The Hash” panel discusses what’s going on with Poly in the largest hack in crypto history and what it could indicate for the future of DeFi regulation.
Largest Hack in DeFi History, ADA Hits Two-Month High
Poly Network suffers the largest hack in DeFi history. Small and mid-sized miners suffer in China exodus, and Cardano’s ADA hits a two-month high. We’ll have more on that story and other news shaping the cryptocurrency and blockchain world in this episode of “The Daily Forkast.”
NFTs Over DeFi: OpenSea Just Overtook Uniswap on Ethereum Usage
Are NFTs back? Non-fungible token (NFT) marketplace OpenSea topped the leaderboard in gas consumption on the Ethereum blockchain, surpassing Ethereum's largest decentralized finance (DeFi) exchange Uniswap. Since last year, Uniswap has typically commanded the top spot. "The Hash" team discusses the industry implications for the rare flippening event and what it means for ether.
Largest Hack in Crypto History? $600M in Crypto Potentially Stolen From DeFi Platform Poly Network
Cross-chain decentralized finance (DeFi) platform Poly Network was attacked on Tuesday, with the alleged hacker draining roughly $600 million in crypto. This figure would place the Poly Network hack among the largest in crypto history. “The Hash” hosts discuss the implications for DeFi regulation amid U.S. lawmakers reining in on the digital asset sector.