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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.
Duo Involved in Platypus Crypto Exploit Arrested by French Police
Two people alleged to be behind an attack on the decentralized finance (DeFi) protocol Platypus have been arrested, according to a tweet by France's police department. The flash loan exploit drained the protocol of over $9 million in assets and knocked Platypus USD (USP) off its peg. "The Hash" panel shares their insights as French police aren’t naming the suspects or announcing the charges at this time.
Hype Around Bitcoin Ordinals, DeFi Drives Crypto Funds to Stacks Network
Prominent crypto investment funds are turning to tokens of the Stacks Network as they bet on the growth of Bitcoin. Demand for Stack’s STX tokens has increased since the arrival of the Ordinals protocol, which went live on Jan. 21 and allows users to inscribe references to digital art into small transactions on the Bitcoin blockchain. "The Hash" panel discusses what this means for the future of Bitcoin and the state of DeFi.
Allure of Bitcoin Ordinals, DeFi Drives Crypto Funds to Bitcoin Layer 2-Token Stacks
The price of Stacks’ native STX token has doubled in two weeks on the back of strong growth for Bitcoin-based non-fungible tokens.
Shiba Inu Investor Transfers Tokens to Exchanges, Possibly Foreshadowing Price Drop
Wallet 0xd6 moved more than 182 billion shiba inu tokens to crypto exchanges Gemini and Crypto.com during Asian morning hours on Monday.
Liquid Staking Replaces DeFi Lending as Second-Largest Crypto Sector
The value of cryptocurrencies deposited in liquid staking protocols has increased to about $14 billion, trailing just deposits at decentralized exchanges.
French Police Arrest Duo Involved in Platypus Crypto Exploit
Flash loan exploit drained protocol of over $9 million in assets and knocked Platypus USD (USP) off its peg.
Start of the End? Testnet Goerli Ether Spikes to $1.60 as Traders Jump on Opportunity Meant for Developers
LayerZero offered developers a way to get their hands on intrinsically worthless gETH tokens for testing purposes – but traders jumped on that opportunity, leading to an uncannily high-valued market.
Token Offering of Asset Management Platform Factor Raises Roughly $7.6M
Several hours before the public sale ended, Factor announced changes to decrease the initial circulating supply.
Mango Markets Will Alter Multi-Sig Feature to Mitigate Security Threats After $114M Exploit
The decentralized exchange will upgrade its security in a new version of its platform.
YFI Sets Six-Month High as Yearn Finance Teases Ether Liquid Staking Product
The product is designed for users to gain exposure to a basket of liquid staking derivatives in a single token.
