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.


Markets

Liquid Staking Platform Lido Surpasses 6M Ether Deposits as Shanghai Upgrade Spurs Inflows

Ethereum’s Shanghai upgrade spurred deposit inflows to liquid staking protocols, including to the largest player Lido.

(Aditya Siva/Unsplash)

Tech

Layer 2 Network Optimism to Use Ethereum Attestation Service to Promote User Trust

The attestation service will allow any Optimism user to create digital sign-offs on all kinds of information involving the blockchain’s activities and users.

digital identity ID

Finance

OpenTrade Raises Over $1.5M for Building Crypto Structured Financial Products

The platform will offer liquidity pools for U.S. Treasury bills, later this year.

(Mufid Majnun/Unsplash)

Tech

Arbitrum-Based Exchange Chronos Attracts $170M to Yield Pools in a Single Day

The price of the DEX’s native chr token jumped 25% in 24 hours.

(Pixabay)

Tech

Solana Founder Brushes Off FTX Woes, Remains Confident in Crowded Blockchain Landscape

Prominent projects are porting to the Solana network and developer activity remains strong, Anatoly Yakovenko told CoinDesk TV.

The suit accuses Solana founder Anatoly Yakovenko of securities violations. (Danny Nelson/CoinDesk)

Markets

‘WallStreetBets’ Themed Tokens Plummet 90% as Insider Dumps Treasury Holdings

WSB prices fell sharply as the apparent token sale by insiders led to token holders dumping holdings en masse.

A key market metric known as the "stETH discount" suggests market speculation that Celsius Network might dump a big stake. (Creative Commons, modified by CoinDesk)

Policy

U.S. SEC Changes Its Mind on Officially Labeling Digital Assets

The Securities and Exchange Commission was about to define “digital asset” but deleted it in the final version of a rule, reversing a move that might have started formalizing crypto’s role.

SEC Chair Gary Gensler (Kevin Dietsch/Getty Images)

Tech

DeFi Protocol Curve Finance Deploys Native Stablecoin on Ethereum Mainnet

The deployment marks a major milestone for the public release of Curve’s highly anticipated native stablecoin.

Ratings company S&P Global has started ranking stablecoins' ability to hold their pegs. (eswaran arulkumar/Unsplash)

Videos

Sui Mainnet Goes Live: What's Behind the Sui Token Surge and Excitement?

Sui, the buzzy layer 1 blockchain founded by ex-Meta Platforms employees, launched its mainnet on Wednesday as it jockeyed to edge out rival Facebook-offshoot Aptos and other DeFi heavyweights. Sui Network tokens (SUI) briefly jumped to $2 apiece minutes after trading began, reaching nearly $690 million in market cap to a fully diluted valuation (FDV) at a staggering $13 billion. "The Hash" panel discusses their outlook for the Sui ecosystem.

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Opinion

Can CBDCs, Tokenized Deposits, Stablecoins and DeFi Coexist?

Central banks may continue to dictate monetary policies but private regulated entities, such as banks and protocols, may play an increasingly large role in distributing money to the public, Moody's senior director Yiannis Giokas writes.

Federal Reserve Board Building (AgnosticPreachersKid/Wikimedia)