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

Uniswap Version 3 Goes Live on BNB Chain

Over 66% of voters supported the deployment in a governance vote held in February.

Uniswap booth at ETHDenver 2023 (Danny Nelson/CoinDesk)

Videos

U.S. Treasury Close to Releasing Report on Use of DeFi in Illicit Finance

The U.S. Treasury Department is close to releasing a risk assessment analyzing criminal use of decentralized finance (DeFi), according to Assistant Secretary for Terrorist Financing and Financial Crimes Elizabeth Rosenberg. CoinDesk Global Policy and Regulation Managing Editor Nikhilesh De weighs in on the latest developments.

Recent Videos

Finance

DeFi-Focused Asset Manager MEV Capital Offers Uniswap Hedging Strategy

The firm uses options contracts issued by crypto derivatives specialist OrBit Markets to hedge liquidity providers’ positions.

MEV Capital Chief Investment Officer Laurent Bourquin (MEV Capital)

Tech

Euler Finance to Offer $1M Reward as It Reels From Nearly $200M Exploit

Euler has sent multiple on-chain messages to the attacker in the past 48 hours.

Computer Hacking Hackers (Shutterstock)

Markets

Over $2B in USDC Stablecoin Burnt in Single Day, Data Shows

USD coin holders are not rushing back to the token just yet.

Some 723 million USDC were burnt in a single transaction in early Asian hours. (Arkham Intelligence)

Policy

U.S. Treasury Poised to Release View on How DeFi Used in Illicit Finance

The department has reviewed decentralized finance’s role in such incidents as North Korean ransomware attacks, and will issue a risk assessment, a senior official said.

Elizabeth Rosenberg (Kevin Dietsch/Getty Images)

Tech

Dogecoin Network's Patched Bug Is Still Present in 280 Blockchains, Blockchain Security Firm Says

The bug pertains to the way peer-to-peer communications are conducted on blockchain networks such as Litecoin and Zcash.

Hacker (Towfiqu Barbhuiya/Unsplash)

Finance

DeFi Privacy Bridge Aztec Connect Sunsets After Less Than a Year

The backing Aztec Network is open sourcing the bridge and moving on to next-generation products.

LocalBItcoins is sunsetting its exchange. (Johannes Plenio/Unsplash)

Tech

Crypto’s Latest Stablecoin, Called HOPE, Started by Ex-Babel Finance CEO Flex Yang

The token will serve as the native stablecoin for the new Hope ecosystem, which is focused on bringing traditional-finance users to the crypto market.

(Getty Images)

Finance

Euler DeFi Protocol Exploited for Nearly $200M

The losses occurred over four transactions in dai (DAI), wrapped bitcoin (WBTC), staked ether (sETH) and USDC after the attacker conducted a flash loan attack.

Computer Hacking Hackers (Shutterstock)