Tag Archives: defi

Gemini, the Winklevoss Twins crypto platform offering an exchange, custodian services, and – in partnership with Genesis – Earn services, has been in a bit of trouble ever since the latter filed for bankruptcy last January. Possible Recovery Plan Waiting For Court Approval Genesis, whose legal troubles stemmed partly from a loan to its parent company DCG that had not been repaid, has reportedly finally worked out a plan for repayment with said firm, allowing it to repay...

Venus Protocol, a prominent lending market on the BNB Chain, has denied allegations of a major security breach over the past weekend. These speculations initially suggested a $54 billion exploit, as blockchain security firm SlowMist reported. Venus Protocol Refutes Claims of Major Exploit Brad Harrison, the Head of Venus Labs, addressed these concerns on December 10 through a post on X. Some facts: Binance Oracle, which supports the asset of snBNB in the *isolated* pool...

The Starknet Foundation – the organization behind the Ethereum Layer 2 network Starknet – announced plans to allocate over 1.8 billion STRK tokens across multiple initiatives soon. The move is aimed at driving the adoption and growth of the Starknet blockchain. Allocation of 1.8 Billion STRK Tokens According to the official announcement, 900 million STRK has been allocated to the Provisions Committee to distribute ownership of the network’s native token and to reward past and...

Ethereum median gas price has surged to 55.3 Gwei this month, almost doubling in a month and reaching its highest point since mid-May this year. Ethereum is trading at 2,230, up 10% over the last week and 81.3% over the last year, remaining the second most popular crypto after Bitcoin. Ethereum Gas Fees Increase As revealed by an analysis on Dune, Ethereum gas fees have surged over the last month. In October 2023, Ethereum experienced a notable reduction in gas fees,...

The investment firm Tiger Global has reportedly reduced the valuation of its holdings in Bored Ape Yacht Club and OpenSea. Per a Bloomberg report, the company marked down the value of its investment in Bored Ape Yacht Club (BAYC) by 69% and its stake in the NFT marketplace OpenSea by 94%. The move follows Tiger Global’s decision to write down its $38 million investment in FTX to zero. Tiger Global Investors Experience Losses The Tiger Global’s Private Investment Partners 15...

Velodrome, the second-largest DEX on the Optimism network, and its fork, Aerodrome, the leading DEX on Base, have reported a compromise in their respective frontend systems. Following the incident, both platforms urged users through their social media channels to refrain from interacting with their platforms for the time being. Velodrome and Aerodrome Urge Caution Amid Security Breaches “Our frontend is currently compromised. Please do not interact with Velodrome for the time...

The native token of the Yearn Finance ecosystem has plummeted by 40% overnight, which led to certain speculations within the community of a potential exit scam. Yearn Finance is among the most popular and prominent DeFi players, and it just recently hinted about an upcoming launch of its platform’s newest version, which questions the exit scam rumors. YFI’s price was on a massive roll for the past seven days or so. It was a week ago when the asset traded at around $9,000...

Andrew Breslin clarified that the idea was more about the numbers than the big-name firms that it appears Infura had targetted. Infura, the Web3 infrastructure firm from Consensys, has just entered into multiple partnerships with Microsoft and Tencent. The move, which appears to be in line with its vision of achieving progressive decentralization, also saw it tap 16 other Web2 giants alongside the leading technology giants. Infura to Launch a DIN Infura announced the partnership during a...

The co-founders of Opyn, a prominent DeFi options protocol, have announced their departure from the company and the crypto industry. This decision comes in the wake of charges filed against Opyn by the Commodity Futures Trading Commission (CFTC) in September. Opyn’s Co-founders Announce Departure from Crypto Opyn co-founders CEO Zubin Koticha and Alexis Gauba recently announced their departure from the crypto world. Koticha, in a post on X, stated, “After the regulatory...

Aave V3 markets have been unpaused by the Community Guardian, signaling the resolution of the issues that prompted the temporary measures. The move follows the execution of a governance proposal voted on earlier. Additionally, Aave V2 Ethereum is anticipated to be unpaused tomorrow, a decision accelerated due to block times on voting and operational considerations. Aave Resumes Operations Decentralized lending protocol Aave has successfully resumed operations after...