Hong Kong authorities are looking for new designs for a central bank digital currency (CDBC), now proposing to issue a CBDC in the form of a stablecoin backed by the government. Wu Jiezhuang, a member...
Tag: DeFi
Hong Kong lawmaker wants CBDC with Defi features
Wu Jiezhuang, a Hong Kong lawmaker, believes that making an e-HKD stablecoin would make adopting new Web3 technology easier. Wu Jiezhuang’s suggestions come on the heels of the Hong Kong Monetary Auth...
2022 Crypto and DeFi Losses Hit $3.9 Billion, Says Report
Despite the 2022 market crash, the crypto industry still presents a tantalizing opportunity for so-called “black hat hackers.” At the end of Q3 2022, the crypto space was worth $934.85 billion, accord...
DeFi Tool Convex to Make Changes to Staking Service for Curve Token Rewards
Convex allows users to access liquidity and earn fees from Ethereum-based stablecoin exchange Curve Finance, once the largest DeFi protocols with a total value locked (TVL) of $23 billion. As of Wedne...
Cake DeFi publishes Merkle tree-based proof of reserves
Singapore-based decentralized finance (DeFi) services firm Cake DeFi has announced the release of its proof of reserves using the cryptographically audited Merkle tree method. Developed by Ralph Merk...
DeFi Security Firm Dedaub Discloses Uniswap Vulnerability
Uniswap’s newly implemented bug bounty program has been a roaring success, as it helped uncover and subsequently resolve an existing vulnerability in its Universal Router smart contract. The two...
DeFi user loses $3.4 million of gmx tokens in phishing attack
An anonymous DeFi user fell victim to a phishing attack and lost $3.4 million in gmx, the native token of decentralized trading protocol GMX. The tokens were then sold on the open market. An adm...
DeFi TVL Sinks to 2-Year Lows Under $50 Billion
The total value locked in decentralized finance (DeFi) has recently hit a two-year low. It has shown very marginal recovery signs this week, however. Decentralized finance has been battered over the p...
Cardano DeFi TVL Spikes in the New Year, But ADA Price Suffers
Activity on the Cardano network has ticked up recently. In response, the prices of its native coin, ADA, have also increased today. Some of the leading decentralized finance protocols on the Cardano n...
Cardano’s DeFi Industry Might Grow Substantially in 2023, Here’s How
Arman Shirinyan Cardano’s growth might be possibility in new year thanks to long-awaited decentralized solutions Cardano’s decentralized finances were not the strongest part of the ecosyst...
DeFi Protocol Lido Reaches $5.9B in TVL Dethroning MakerDAO
Leading decentralized lending protocol MakerDAO has lost its dominance in the DeFi market as liquid staking protocol Lido Finance claimed the top spot with the highest total value locked (TVL). Accord...
Lido Finance Now Has Highest TVL in DeFi Surpassing MakerDAO
Lido’s liquid staking protocol has a total market cap of $5.96 billion in TVL. Lido finance had the largest portion of staked ETH among DeFi, at 31%. Total value locked (TVL) for Lido Finance, one of ...
Lido now has the highest DeFi TVL as LDO increases 17%
Ethereum (ETH) staking protocol Lido (LDO) is now the dominant DeFi protocol based on the total value of assets locked (TVL) in its ecosystem, according to DeFillama data. Lido’s TVL overtook that of ...
Lido Finance (LDO) Now Has Highest TVL in Defi
The post Lido Finance (LDO) Now Has Highest TVL in Defi appeared first on Coinpedia Fintech News As per Nansen data in December, Ether staking solutions were in high demand as Ethereum shifted to a pr...
Sam Bankman-Fried’s and Alameda Research accounts still active, DeFi hacks
As 2022 came to an end, the decentralized industry saw significant moves, including former FTX CEO Sam Bankman-Fried’s bail, the U.S. Securities and Exchange Commission (SEC) sealing Hinman’s document...
A Solution to Inflation and a DeFi Enabler?
A Stable Currency Would Retain Its Purchasing Power Over Time Most of the world’s fiat currencies have a high rate of inflation, which causes consumers’ purchasing power to decrease. To prevent their ...
DeFi sees exploits and exit scam drama in the last week of 2022: Finance Redefined
Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week. For DeFi, the last we...
DeFi Behind the Djed Stablecoin Announces Hard Fork
Djed, a new overcollateralized stablecoin to be launched next month. Could support the creation of a Private Payment Network (PPN). The deposit fee will be decreased by 50%, and withdrawal fees will ...
Ethereum DeFi Suffered 76% Decline In TVL This Year
Data shows the bear market has also hit Ethereum decentralized finance (DeFi) hard, as the total value locked in the sector has declined by 76%. Total Value Locked In Ethereum DeFi Now Only Around $23...
Former DoJ prosecutor urging DeFi platforms to integrate robust security measures
Ari Redbord, a former prosecutor with the US Department of Justice (DoJ), now serving as Head of Legal and Government Affairs at TRM Labs, say hackers are getting more sophisticated. To protect themse...
India is looking at regulating or prohibiting unbanked crypto, DeFi, and stablecoins
The Reserve Bank of India (RBI) is making concerted efforts at the global level to devise a common means of regulating or prohibiting unbanked crypto assets, DeFi tokens, and stablecoins, details from...
DeFi Blockchain Behind Cardano’s New Djed Stablecoin Announces Successful Hard Fork and Updated Fees
The decentralized finance (DeFi) protocol behind Cardano’s (ADA) new stablecoin says that it has successfully updated its network. According to a recent blog post by COTI Network, the scalable layer-1...
BNB Chain closes 2022 as the 2nd most preferred blockchain for DeFi projects
BNB Chain has the second largest TVL after Ethereum. 12% of the tokens on BNB Chain are scam tokens. A hardfork upgrade is expected in 2023, which will integrate the staking economy onto Beacon Chain....
Blockchain.com CEO sees bright future for Defi and CeFi
Peter Smith, CEO of crypto consulting firm Blockchain.com, took to Twitter to express his excitement about the future of crypto. In a series of tweets, Smith declared that Defi and CeFi are the future...
Solana Defi Exchange Hacked, Cardano Rejected By Paxful Founder While Snowfall Protocol Grows 250%
Cryptocurrencies are gaining increasing attention due to their potential to revolutionise the way transactions are conducted. Snowfall Protocol (SNW) is a new cryptocurrency that boasts superior feat...
Crypto.com is bullish on DeFi for 2023 amid institutional interest
Crypto.com researchers are optimistic about crypto projects in 2023 despite an unprecedented bear market. The fundamental analysis has shown an imminent rise of cryptocurrencies and blockchain-powered...
Solana Based DeFi Platform Mercurial Seeking Rebranding to Meteora
The recent major hit to the crypto industry in the form of FTX collapse continues to send its ripple effects. Many crypto assets and firms were directly affected by the incident. Solana (SOL) is inclu...
Midas Investments close down amid $63M DeFi portfolio deficit
Custodial CeDeFi investment platform Midas will close down its operations because of a $63.3 million deficit in its decentralized finance (DeFi) portfolio. In an announcement, the company’s founder a...
Solana’s DeFi project Mercurial relaunches as Meteora
In a determined effort to disassociate itself from Sam Bankman-Fried’s crumbling empire, the decentralized finance (DeFi) trading project Mercurial intends to relaunch as Meteora, distribute a new tok...
DeFi trader Mercurial rebrands to distance itself from FTX collapse
Stablecoin DEX Mercurial is rebranding to Meteora in an attempt to distance itself from FTX. Mercurial, which provides liquidity for major stable and pegged assets on Solana, said it will repla...