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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.
Gary Gensler Isn't Buying Your Decentralization Theater
The SEC chief has a point: DeFi is often not as decentralized as its proponents like to claim.
SEC Chair Gary Gensler Says DeFi Not Immune to Oversight
U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler warned decentralized finance (DeFi) projects that reward participants with incentives or digital tokens could be subject to SEC regulation. "The Hash" hosts discuss the outlook for the DeFi regulatory landscape and how this could enable a "robust push" towards more decentralization.
Poly Network Attacker Threatens to Delay Return of Funds, Holds $141M Hostage
Poly Network, the China-based blockchain protocol exploited earlier this month for more than $600 million, sent a bounty worth nearly $500,000 to the attacker. Most of the looted cryptocurrency has been recovered, but the attacker has yet to provide a key needed to unlock the remaining $141 million. "The Hash" team unpacks the new twist in the ongoing saga surrounding the largest DeFi hack in crypto history and where Poly could head next.
Breaking Down the Poly Network Hack, the Largest DeFi Attack in Crypto History
Joseph McGill of crypto-tracking software firm TRM Labs shares insights into the Poly Network hack, the largest DeFi attack in crypto history, and how his firm is helping combat the risks of open finance. Plus, debunking the potentially false narrative about criminal activity in crypto.
Poly Network Sends Bounty as Attacker Holds $141M Hostage
Ethereum blockchain transaction records confirm the transfer of 160 ETH (about $480,000) to the "Poly Network Exploiter 2" wallet address.
Galaxy Digital Launches DeFi Index Tracker Fund
Tracking the newly launched Bloomberg Galaxy DeFi Index, the fund is seeded by New Zealand’s NZ Funds.
Cross-Chain Protocol Chainflip Raises $6M to Fund Growth, Security Audits
Funding will also go toward external communication campaigns and to build out Chainflip’s products and team.
Custody Firm Anchorage Launches Governance Voting With DeFi Giant Aave
The Anchorage governance portal looks to boost institutional players’ DeFi involvement.
DeFi Not Immune to SEC Oversight, Gensler Says: Report
DeFi projects that reward participants with incentives or digital tokens could be subject to SEC regulation, the SEC chairman said.
Poly Network Attacker Threatens to Delay Return of Funds
"WHAT A FUNNY GAME," the Poly Network attacker wrote into a transaction on the Ethereum blockchain.