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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.
Grocery Chain Trader Joe’s Sues Unaffiliated Crypto Project That’s Using Its Name; JOE Token Sinks
The grocer alleged the Trader Joe decentralized exchange chose a similar name to benefit from the former’s popularity.
Real-World Asset Loan Worth $20M at Risk of Losing $7M on DeFi Platform Goldfinch
Protocol contributor Warbler Labs said it will backstop all losses.
Ethereum Network 'Remains the Place to Operate as a Criminal,' Immunefi CEO Says
A new report from Immunefi, which is a bug bounty and security services platform for Web3, found that more than $1 billion was lost in crypto this year and more than $600 million was lost last quarter. Immunefi Founder and CEO Mitchell Amador discusses the details of the report and the outlook for DeFi.
Bitcoin Holds Steady at $27.6K; Why Are XRP, AVAX Prices Pumping?
Ether fell 0.5%, Solana’s SOL fell 1.4%, while Cardano’s ADA and BNB Chain’s BNB traded flat.
DeFi Project Yield Protocol to Wind Down by Year's End
At its peak in April 2022, the DeFi lending project had over $22 million in total value locked, but this figure has since dropped to around $2 million.
Friend.Tech Users Targeted by SIM Swap Attack, Several Ether Drained
Users tie Friend.Tech accounts to real-world X profiles and phone numbers - which increases security risks.
Millions in Ether Tied to FTX 'Hacker' on The Move
FTX was hacked in November 2022, hours after the global crypto empire declared bankruptcy and its founder Sam Bankman-Fried stepped down from running the company.
Circle Rolls Out Open-Source Protocol to Help Build Tokenized Credit Markets
Perimeter Protocol is the first development of Circle Research, the company's new open-source development division.
Examining dYdX’s Path to Profitable DeFi
Axelar's Galen Moore provides a front-row seat to changes afoot at dYdX as the popular decentralized trading platform builds on Cosmos.
Central Banks Successfully Test Cross Border Trading of Wholesale CBDC Using DeFi
The Bank for International Settlements alongside the central banks of France, Singapore and Switzerland tested out using wholesale CBDC to conduct cross border trading.
