Nefarious parties are using flashloans in conjunction with stablecoins to steal DeFi funds from platforms. An Ethereum-based decentralized finance, or DeFi, platform known as Cheese Bank recently suffered a $3.3 million loss — the product of an early-November hack. The thieves utilized a somewhat newly-found weakness in the DeFi sector which harnesses flashloans. The Cheese…
Read more
Privacy should be a key talking point from the beginning of CBDC development. Robert Bench, the Federal Reserve Bank of Boston’s director of applied research, thinks privacy should be a focus during the creation of digital money, not an afterthought. “Privacy is a question that we have learned is critical from a technical perspective,” Bench…
Read more
Customers can now borrow money from crypto exchange Bitfinex. Amid a year of significant growth for the decentralized finance space within the crypto industry, British Virgin Islands-based crypto exchange Bitfinex has unveiled its new lending service today, called Bitfinex Borrow. “Bitfinex Borrow is a borrowing platform,” Bitfinex chief technology officer Paolo Ardoino told Cointelegraph. “This…
Read more
DragonEx is introducing a new withdrawal method in an effort to save its business. Cryptocurrency exchange DragonEx is introducing a stopgap measure to reintroduce withdrawals after some problems last month. According to an official announcement on Nov. 8, DragonEx is introducing a temporary solution to allow crypto withdrawals. The exchange will require its users to…
Read more
Bitcoin’s new highs come amid lots of new money pouring in via stablecoins. According to Tether’s official transparency data, the USDT market cap crossed a $17 billion mark for the first time, hitting over $17 billion in total assets. Tether’s market cap has been growing exponentially in 2020. As of mid-September, Tether’s market cap had…
Read more
Does someone know something the public doesn’t? Crypto-Twitter has been abuzz with speculation about a large amount of USDT flowing into the Huobi crypto exchange. Significant amounts of Bitcoin (BTC) also appear to have exited the platform during the same period. The Singapore-based entity recently issued a statement claiming all is well. “We have noticed…
Read more
Of the 450 million new USDT tokens, more than 185 million have been distributed with 126.9 million USDT going to Binance alone The Tether (USDT) Treasury has minted almost half a billion new USDT tokens and distributed more than 185 million tokens to exchanges and other addresses in the last 36 hours. As shown by…
Read more
Tether accounts for a huge percentage of transactions and is taking on Bitcoin and Ethereum in a variety of ways The latest data from analytics providers suggest that cumulative Tether transaction volume has just surpassed $600 billion as it begins to dominate crypto exchange trading. On-chain analytics provider Glassnode has revealed that Tether transaction volume…
Read more
APY.Finance is the latest DeFi protocol to explode in popularity, locking more than $67 million of stablecoins in the first hour of launching its mining program. The DeFi sector is still going strong with the newly launched yield farming platform APY.Finance attracting more than $67 million in locked funds within one hour of launching liquidity…
Read more
Federal banks in the U.S. see new capacity to provide services to crypto firms, specifically stablecoin operators. Per an interpretive letter from the U.S. Office of the Comptroller of the Currency released on Monday, national banks will be free to hold reserve currencies for stablecoins. The new guidance reads, “We conclude that a national bank…
Read more
