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

'High-Risk' Crypto Loans Surge to a Two-Year High of $55M on Benqi: IntoTheBlock

The total amount of crypto-collateralized loans within 5% of their liquidation price is at its highest in over two years.

High-risk USD loans. (IntoTheBlock)

Finance

Trump-Supported World Liberty Financial Will Start Public Token Sale Next Week

The WLFI token sale will be open for everyone who has been qualified through the project's whitelist.

Screen grab from Trump's teaser of the new World Liberty Financial crypto company (Rug Radio, modified by CoinDesk using PhotoMosh)

Finance

Crypto Hackers Nabbed $409M in Q3: Immunefi

The figure is 40% less than in third-quarter 2023.

(Kevin Ku/Unsplash)

Tech

Sky Reconsiders Plan to Offboard Wrapped Bitcoin, After Chat With BitGo CEO

An influential adviser to DeFi lender Sky, formerly known as MakerDAO, now says its concerns have been adequately addressed regarding Tron founder Justin Sun's involvement in the custody of bitcoin backing the WBTC token.

Sky. (ELG21/Pixabay)

Tech

DeFi Protocol Cega Debuts 'Vault Token Market' to Facilitate Seamless Investing

The offering solves the liquidity issues faced by investors due to the 27-day deposit lock-up period.

(Alina Grubnyak/Unsplash)

Finance

Crypto Investment Firm Deus X Capital Unveils DeFi Unit Which Will Start New Yield Generating Protocol

The company will debut its first protocol on the Solana blockchain in early 2025 with more than $100 million in total value locked.

Deus X CEO Tim Grant (Deus X)

Markets

DeFi Lender Sky Ratifies Plan to Offboard Wrapped Bitcoin, Due to Sun Concerns

The matter has been closely followed in crypto markets, since the Sky platform has $200 million of loans collateralized by the token, and since WBTC is one of the biggest cryptocurrencies, with nearly $10 billion outstanding.

Sky. (ELG21/Pixabay)

Finance

Solana-Based Drift Raises $25M to Build 'SuperApp' for DeFi Trading

The DeFi platform plans to build an array of financial services tools, including spot and derivatives trading and a predictions market.

CoinDesk placeholder image

Finance

Three Ways DeFi Will Revolutionize Financial Services

DeFi is poised to create a future where financial services are digital, open, always-on, and borderless, says Bill Barhydt, CEO, Abra.

(Matthew Henry/Unsplash)

Finance

DYdX to Debut Perpetual Futures on Prediction Markets as DEX Seeks to Raise Profile

Decentralized finance needs to develop a unique offering relative to centralized venues, dYdX Foundation CEO Charles d'Haussy said.

Charles d'Haussy. (https://charlesdhaussy.com/)