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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.
Martin Shkreli Is Back. He Loves Crypto
The flawed former hedge fund manager is looking to reinvent himself as a crypto entrepreneur. Buyer beware.
Goldman Sachs Says DeFi’s Interconnections Can Increase Systemic Risk
Contagion risk related to UST’s depegging hit staked ether (stETH) because of Lido’s exposure to the Terra ecosystem, the bank said.
Market Wrap: Cryptos Decline Amid Choppy Trading, DeFi Tokens Underperform
Aversion to risk remains as volatility returns to stocks and cryptos.
DeFi Protocol iZUMi Finance Raises $30M, Launches Exchange
The funds were raised through the sale of bond vouchers and claims to back the new iZiSwap decentralized exchange.
It’s Not Just LUNA. Terra’s DeFi Apps Have Hemorrhaged $28B
Investors have largely exited the Terra ecosystem – now evident in DeFi protocols on the blockchain – and analysts remain skeptical about its long-term prospects.
SingularityNET, SingularityDAO Receive $25M to Accelerate AI-Backed DeFi
Global investment group LDA Capital committed the funds and will provide strategic support.
Nomura’s Digital Division to Focus on Cryptocurrencies First, DeFi Later
Phase one of Nomura’s new digital-assets division will include the top 10 cryptocurrencies, with DeFi and NFTs further down the line.
Institutional DeFi Enabler? Data Firm Kaiko Probes DEX Liquidity With New Product
The data feed unpacks what’s what in Uniswap, SushiSwap, Curve Finance and Balancer asset pools.
Aave’s Decentralized Social Media Platform Arrives on Polygon
DeFi lender Aave’s long-teased decentralized social media platform, Lens Protocol, is going live on the Polygon blockchain mainnet. Weeks ago, Aave founder Stani Kulechov was temporarily suspended from Twitter for proclaiming himself “interim CEO of Twitter.” “The Hash” team discusses the timing and the possible outcomes.
Robinhood Plans ‘Web 3’ Crypto Wallet for DeFi Traders, NFT Buyers
Robinhood plans to roll out a new standalone, self-custodial crypto wallet focused on DeFi by the end of 2022. The "Web 3 crypto wallet" will cater to more "advanced" crypto users, living separately from the trading firm's existing wallet. "The Hash" squad discusses the industry implications for Robinhood's latest move in the midst of market downturn.
