Tag Archives: defi

The blockchain arena is getting a big boost from financial giant JPMorgan, which recently completed its first cross-border transaction using the technology that’s become so prominent in the crypto space. JPMorgan Is Giving Defi a Real Boost The transaction occurred in the decentralized finance (defi) arena, thus bringing one of the world’s largest monetary institutions to the world of autonomous banking. The move is being hailed as a real clincher for digital currency,...

Sygnum granted capital markets services (CMS) licence for asset management in Singapore Sygnum nutzt sein Engagement in der Krypto-Community und seine Erfahrungen im regulierten Digital-Asset-Banking, um das erste institutionelle, regelbasierte Krypto-Sektor-Index-Programm auf den Markt zu bringen. Es verfolgt die Wertentwicklung von 21’000 Krypto-Protokollen und nutzt ein regelbasiertes System, um in 7 Kern- und 38 aufstrebende Krypto-Sektoren zu...

The FTX meltdown may have laid the groundwork for an unprecedented shift in user activity from centralized finance (CeFi) to decentralized finance (DeFi), but the total value locked in the services provided by the latter has taken a serious hit. A new report by Dapp Radar suggested that the non-fungible token (NFT) market has not been spared by the downtrend either. DeFi, and NFT Winter Typically considered a potential antidote to the collapse, the total value locked across...

On the AngelBlock platform you will notice the ongoing Early Access to a native token, Tholos ($THOL) for community members, which started on November 16th and will be held until November 30th. The team also announced three winning startups in the AngelBlock Startup Grant Program, who each receive 30K USDT, in addition to being listed on the platform for further on-chain fundraising. Good timing in the bear market? This year’s fall has been a busy time for the AngelBlock team. Over the last...

The fallout from FTX’s collapse has been devastating, and the market is poised for more losses. But according to a recent report by DappRadar, Web3 remains resilient. Centralized services are on the losing side. With the contagion unfolding, the decentralized finance (DeFi) sector, too, has been impacted. But the user activity in the sector appears to be returning to levels from the previous month. State of DeFi According to a recent Dapp Radar report shared with...

The unforgivable mishandling of customer funds has left millions of users with trapped funds, crippled years of constructive industry reputation, and triggered new credit contagion risks. Amidst this chaos, the native token of the decentralized crypto derivatives exchange, dYdX, has risen by more than 50% over the past week. According to prominent crypto analytic firm, Santiment, DYDX has a chance to become a strong narrative in the coming weeks. Aiding the price appreciation...

Last month was quite spooky for the crypto industry as it saw the highest number of DeFi hacks this year.  While October was expected to be “Uptober,” it quickly turned to “Hacktober” as cyber criminals ransacked top crypto projects for hundreds of millions of dollars.  Hackers Steal $760M From DeFi Protocols A recent tweet by the blockchain security company PeckShield pointed out that October was the biggest month for hacking activities this year. The DeFi market suffered...

The Optimism bridge supporting privacy coin BitBTC is actively being exploited for 200 billion BitBTC tokens.  Due to the technicals of the hack, the BitBTC team now has less than 7 days to implement an upgrade to minimize the damages. A Poorly Designed Bridge According to Arbitrum tech lead Lee Bousfield on Twitter, the BitBTC bride contained a “critical exploit” that left it “trivially vulnerable.” It involves the bridge’s relationship between Ethereum’s layer 1 (L1)...

Binance has announced a pause across the entire Binance Smart Chain (BSC or BNB Chain) following what appears to be one of the largest exploits in DeFi history.  An attacker has reportedly hacked another BNB chain user for 2 million BNB, worth $600 million.  Another DeFi Catastrophe According to BNB Chain on Twitter, the “temporary” pause is due to “irregular activity,” and a “potential exploit.” “All systems are now contained, and we are immediately investigating the...

Sovryn – a Bitcoin-based decentralized finance protocol – was drained of over $1 million in funds on Tuesday using a price manipulation exploit.  The attack allowed the culprit to drain over $1 million worth of crypto from the protocol, including 44.93 RBTC and 211,045 USDT. Sovryn’s First Hack According to Sovryn’s blog post on the topic, the attacks specifically targeted the legacy Sovryn Borrow/Lend protocol. It impacted the RBTC and USDT lending pools.  RBTC and USDT are...