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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.
Lender Beware: The Potential DeFi Tax Trap
Uncle Sam may collect tax on every loan and repayment of cryptocurrency, which may catch users by surprise, creating a tax trap that could impair the rapidly emerging DeFi industry. This piece is part of CoinDesk's Tax Week.
Celsius Links Up With Maple Finance for Liquidity Play
Crypto lending platform Celsius will get exposure to yield from market makers Wintermute and Amber by delegating $30 million of wETH to Maple’s pools.
Web 3 Browser Opera Integrates With Ethereum Layer 2 Exchange DeversiFi
DeversiFi's aim is to help traders avoid the high gas fees on the Ethereum network by enabling layer 2 trading.
‘Web3Memes’ Rugs $235K From Investors Five Hours After Issuance: PeckShield
Developers behind the meme coin moved 625 BNB in rugged funds via privacy tool Tornado Cash this morning.
First Mover Americas: Declining 'Buy the Dip' Mentions Signal Fading 'Hopium' in Bitcoin Market
The latest moves in crypto markets in context for Feb. 22, 2022.
Amber Group Raises $200M in Temasek-Led Round at $3B Valuation
The Singapore-based liquidity provider and trading infrastructure firm's valuation has tripled in less than a year.
African Web 3 Super App Jambo Raises $7.5M in Seed Round
The all-in-one education, play-to-earn and personal finance app is backed by Coinbase, 3AC, Alameda Research and Polygon Studios, among others.
First Mover Americas: As Bitcoin Dips, Inflation 'Breakevens' Offer Hope to Bulls
The latest moves in crypto markets in context for Feb. 21, 2022.
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.
First Mover Americas: Bitcoin Nears $40K, Gaming Flips DeFi
The latest moves in crypto markets in context for Feb. 18, 2022.