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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.
Opium, UMA to Launch Decentralized Insurance for SpaceX Flights
Opium is to offer a DeFi derivatives contract allowing users to hedge against the risk of a failed SpaceX launch.
Crypto Hedge Funds Show Growing Appetite for DeFi: PwC
Crypto hedge funds had $3.8 billion in assets under management in 2020. Chainlink, Polkadot and Aave tokens proved to be popular.
People Behind Crypto Protocol DeFi100 May Have Absconded With $32M in Investor Funds
A not-so-classy message on the DeFi100.org website told investors they'd been fooled and "you can't do [the slightest thing] about it."
Crypto Startup 'Eco' Bringing DeFi to the Masses with A-List Celebrity Investors
Crypto banking app "Eco" closed a $26 million funding round in March, with A-list stars like Tiffany Haddish, Diddy, and Kevin Durant being among its investors. "The Hash" panel discusses how Eco works and the benefit of keeping its crypto products on the backend. Plus, how big-name investors like those involved in Eco's funding round influence the crypto space.
Flash Loan Attack Causes DeFi Token Bunny to Crash By 95%
It's a bad day for Bunny whales. A hacker used PancakeSwap to manipulate the DeFi Bunny market, causing it to crash by 95%. "The Hash" panel discusses what attacks like this mean for both new and old investors.
Flux Protocol Raises $10.3M Seed Round to Build DeFi Infrastructure on NEAR
Distributed Global, Coinbase Ventures and others are betting the data protocol can help lending applications attract users to NEAR.
Crypto Chaos Continues; Mass BTC Liquidations in Exchanges Across Asia
The Asian crypto markets continued to struggle as investors turned towards stablecoins to minimize losses. Mass BTC long positions were liquidated across exchanges in Asia, but Singapore-based Bybit tells us that the numbers don’t tell the full story. Meanwhile, decentralized finance lending protocol Maple Finance brings DeFi to institutions.
Market Wrap: Capitulation City as Bitcoin Dumps to $31K, ETH to $2K Before Reversal
Liquidations, China and even Elon Musk may be factors in markets falling.
DeFi Liquidations Up 14-Fold in Broad Crypto Sell-Off
With $662 million in loans unwound over 24 hours, it's the worst day for such liquidations since Feb. 22.
Crypto Market Loses $460B as Ether, Altcoins Follow Bitcoin’s Deep Dive
The crypto market has lost more than $400 billion in a day.
