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.


Tech

Binance Labs-Backed Network Hemi Debuts $440M Mainnet to 'Unify' Bitcoin, Ethereum

Hemi Labs has signed up dozens of protocols, including decentralized exchange (DEX) Sushi, liquid staking token pumpBTC and oracles RedStone and Pyth.

Photo of Jeff Garzik, co-founder of Hemi Labs

Policy

U.S. House Votes to Overturn IRS DeFi Broker Rule

The IRS broker rule would have been impossible to comply with for DeFi entities, one of the resolution's proponents said.

Rep. Jason Smith advocating for the Congressional Review Act resolution on Tuesday ahead of the House vote. (C-SPAN)

Tech

Ethereum L2 Starknet Seeks 'Bitcoin's DeFi Take-Off Moment' With BTC Wallet Xverse

The aim is to provide a Bitcoin DeFi experience using trust assumptions as the next big thing to zero-knowledge proofs until such a time that OP_CAT is adopted

StarkWare CEO Eli Ben-Sasson (Margaux Nijkerk)

Markets

Ether's Freefall Below $1.9K Roils DeFi, Jeopardizes Crypto Loan Backed by $130M in ETH

Falling ETH prices also threaten other DeFi loans, with potential liquidations that could further impact the token's price.

Storm clouds gather. (Shutterstock)

Finance

Crypto Asset Manager Bitwise Deploys on DeFi Platform With Maple Finance Partnership

Crypto asset manager and ETF provider Bitwise has made its first allocation into decentralized finance (DeFi) through a partnership with on-chain credit specialist Maple Finance.

Bitwise CIO Matt Hougan (Suzanne Cordiero/CoinDesk/Shutterstock)

CoinDesk Indices

Improving Blockchain Data Usability: A Key to Unlocking Institutional Capital

While digital asset markets are awash in data, they lack structure and standardization, deterring the entrance of institutional capital, says Outerlands Capital’s Felician Stratmann.

(Lerone Pieters/Unsplash)

Policy

Effort to Kill IRS Crypto Rule Clears U.S. Senate Hurdle

With a split among Democrats, the Senate resolution to erase the IRS' DeFi-focused crypto broker rule passed with a massive majority and is now up to the House.

U.S. Capitol building in Washington, D.C. (Jesse Hamilton/CoinDesk)

Policy

President Warming Up His Pen to Sign Resolution to Kill IRS Crypto Rule If Passed

As the U.S. Senate began its process to consider a resolution to erase the recent IRS rule that targets DeFi, the White House cheered it on.

The U.S. Capitol in Washington, D.C. (Jesse Hamilton/CoinDesk)

Tech

Layer-2 BOB's 'Bitcoin DeFi' Continues Progress With Fireblocks Integration

Fireblocks users can now earn yield on their BTC holdings via BOB's network

bob

Policy

U.S. Senate Expected to Vote on Erasing IRS's Crypto Broker Rule That Threatens DeFi: Source

Senate leaders are said to be queuing up votes to reverse two Biden-era regulations tied to digital assets: the IRS DeFi rule and a CFPB digital-payments rule.

U.S. Capitol Building (Jesse Hamilton/CoinDesk)

DeFi | CoinDesk