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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.
Chinese Police Arrest 8 People Related to $7.8M Rug Pull
Police in Anhui province froze RMB 6 million in assets related to a rug pull with hundreds of victims.
Multichain Says $1.4M in Ether Siphoned From Users Who Failed to Update Approvals
The cross-chain bridge urged users to remove approvals for six tokens after it was alerted to a security flaw.
BIS Chief: Central Banks Are Best Sources of Trust in Money in a Digital Age
“The soul of money belongs neither to a Big Tech nor to an anonymous ledger," said Agustín Carstens.
Crypto Influencer Cooper Turley Removed From FWB Over 2013 Bigoted Tweets
Turley, once an adviser to the influential crypto social club Friends With Benefits, is taking a step back.
‘Wen Token?’: Polymarket’s New Airdrop Futures Market Has Answers
Speculators can now bet on whether big-name crypto projects will airdrop a native token in Q1 2022.
What Is Yield Farming? The Rocket Fuel of DeFi, Explained
If the terms “yield farming,” “DeFi” and “liquidity mining” and are all Greek to you, fear not. We’re here to catch you up.
North Korean Hackers Stole $400M in 2021, Mostly in Ether
For the first time, DeFi mixers were the biggest money-laundering tool for North Korean hackers.
ERC-4626: DeFi's Newest Money Lego
An Ethereum Improvement Proposal wants to standardize a key component in yield-generating strategies.
DeFi Alliance Becomes ‘Alliance DAO’ After $50M Raise From 300 Web 3 Leaders
What the new moniker means for the newly minted decentralized autonomous organization is somewhat TBD.
Funds Lost to DeFi Hacks More Than Doubled to $1.3B in 2021: Certik
Centralization is the most common vulnerability, the security firm said.
