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.


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Prolific Developer Andrew Cronje Leaves DeFi Behind

Decentralized finance developer Andrew Cronje, known for his work with Yearn Finance, will be leaving the crypto industry following a Twitter announcement from a close associate of his. As dozens of tokens tumble in price following this news, “The Hash” discusses the role Cronje played in the DeFi ecosystem. 

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Chainalysis Exec: ‘Unlikely’ That Russia Is Evading Sanctions Through Crypto

As U.S. lawmakers push the Treasury Dept. to ensure Russia is not evading sanctions with crypto, Salman Banei, Chainalysis head of public policy for North America, responds to the concern, emphasizing the transparency of open blockchain networks. Banei explains how Chainalysis tackles mixers and other DeFi protocols in its cross-chain monitoring.

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4 Crypto Tax Myths You Need to Know

Dan Hannum, Zenledger COO, joins “First Mover” for CoinDesk’s Tax Week programming to discuss misconceptions about taxation of crypto activity. Hannum explains the tax structure for crypto-to-crypto and crypto-to-fiat transactions and examines tax rules for staking, airdrops, and other DeFi activities.

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Opinioni

Attenzione prestatori: la potenziale trappola fiscale DeFi

Lo Zio Sam potrebbe riscuotere le tasse su ogni prestito e rimborso di Criptovaluta, il che potrebbe cogliere di sorpresa gli utenti, creando una trappola fiscale che potrebbe danneggiare il settore DeFi in rapida crescita. Questo articolo fa parte della Tax Week di CoinDesk.

(Francis MacDonald/Unsplash)

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Blockchain Interoperability Network Axelar Raises $35M at $1B Valuation

Axelar, a decentralized network connecting multiple blockchains, has closed a $35 million Series B funding round at a $1 billion valuation. Axelar Network CEO & Co-Founder Sergey Gorbunov shares insights into the raise, exploring the "complicated technology" of blockchain interoperability and its role in DeFi hacks.

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MakerDAO On Its Decentralization Process to Dissolve the Foundation

DeFi protocol MakerDAO plans to complete its roadmap to decentralize governance with the dissolution of its foundation in the coming months. Nadia Alvarez, head of growth at MakerDAO, joins "All About ETH" live from Ethereum Denver 2022 to discuss its journey to decentralization and key lessons learned. Plus, is the trend of DAO-ifying a buzz or a long-term revolution?

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Could Chainlink Be the Driver for DeFi’s Growth? Bank of America Thinks So

Chainlink (LINK) could accelerate the adoption of next-generation blockchain use across finance, insurance, supply chain, gaming and gambling, Bank of America said in a research report following an investor call with Chainlink co-founder Sergey Nazarov.

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KPMG Canada Exec on Adding Crypto to Its Balance Sheet: ‘We Believe in This Sector’

The Canadian branch of accounting giant KPMG has acquired bitcoin and ether on its balance sheet. KPMG Canada’s Kareem Sadek shares his insights into the firm making its first allocation of crypto assets to its corporate treasury.

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Dapper Labs Exec Talks Flow Network: ‘It’s Not Just an NFT Blockchain’

Matthieu Jobbé-Duval, head of financial products at Dapper Labs, which oversees the Flow ecosystem, including NBA Top Shot and NFL All Day, discusses the latest on Flow, including introducing ERC-20 token wrapped FLOW (wFLOW). What does this mean for DeFi users on Ethereum?

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