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.


Tech

Blockchain Security Firm Forta Upgrades Its Scam Detector to Battle Growing Crypto Fraud

Hundreds of millions of dollars have been lost to scams and exploits in July alone.

Scam alert (Getty)

Finance

Decentralized Insurance Alternative Nexus Mutual Provides Cover to UK Shopkeepers

A partnership with InShare sees Nexus adding some of its $274 million on-chain capacity to The Retail Mutual insurer comprising over 5,000 shopkeepers and small retail businesses.

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Tech

Crypto Exchange Mango’s Legal Bills Swell, a Year After Alleged $116M Heist

First the blockchain-based exchange was allegedly victimized by a market manipulator, and now it's having to spend big on lawyers to pursue suits and other remedies.

(Desirae Hayes-Vitor/Unsplash)

Videos

Curve Finance Recovers 73% of Exploited Funds

Curve Finance has recouped roughly 73% of funds stolen during a hack, which saw the platform lose over $73 million worth of various tokens, according to blockchain security company Peck Shield. Nansen analyst Sandra Leow discusses her take about the early August exploit and the implications for the wider DeFi ecosystem.

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Tech

Lido Attracted 10K Ether Stakers to Protocol in July

The largest staking service provider also crossed $15 billion in total value locked, a level not seen since May 2022.

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Tech

Curve Recoups 73% of Hacked Funds, Bolstering CRV Sentiment

A public bounty is now open for finding the remaining funds with a $1.8 million reward.

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Markets

First Mover Asia: Bitcoin Teases $30K While the Long Wait for an ETF Continues

Trading volume is down, but all signs point to a break-out around the corner.

(CoinDesk)

Opinion

DeFi Definitely Isn't Dead

The commentariat said decentralized finance is in danger amid the crypto winter and recent spate of hacks. They're dead wrong.

An angel as a tombstone (Veit Hammer/Unsplash, modified by CoinDesk)

Videos

Curve Exploiter Starts Returning Some Stolen Crypto, Raising Hope for Recovery

The exploiter responsible for draining $61 million assets held on decentralized exchange Curve Finance has returned some of the stolen crypto after engaging in talks with one of the victims on Friday, blockchain data shows. "The Hash" panel discusses what this means for the future of DeFi as anxious investors yanked out assets as a precaution.

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Videos

Hackers Hit Curve, China Announces Blockchain Link and Is FTX Back?

Host Angie Lau takes a deep dive into the DeFi world as the nearly $52 million exploit of Curve Finance stirred up trouble in the space. Plus, Shanghai's plan to build a blockchain infrastructure hub to link with Hong Kong and Singapore. And, the outlook on a potential revival of the defunct crypto exchange FTX. Those stories and other news shaping the cryptocurrency world are in this episode of "Forkast IQ."

Forkast IQ