Billionaire Tim Draper sees potential in DeFi and invests in a new DAO governance platform called DMM DAO. Tim Draper, the billionaire and Bitcoin bull who has backed Tesla, SpaceX and Coinbase, is making moves into decentralized finance. He is now investing in DeFi Money Markets DAO (DMM DAO), according to the DMM Foundation’s official…
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MakerDAO is considering USDC as collateral support to improve liquidity and the tech team has already started preparing the technical transition regardless an executive vote. MakerDAO, leading player in the decentralized finance sector, is facing liquidity risk in an uncertain market. The MakerDAO community is considering adding support for USDC, the cryptocurrency associated with Circle,…
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Check the bad crypto news of the past week. Bitcoin has been on a downward streak for the last week, down around 15 percent over the last seven days. That’s bad but it could be worse. You might have put your money in stocks. Some people, though, remain optimistic. RT’s Max Keiser predicts that the…
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MakerDAO’s loss of more than $5 million over a technical issue raises questions on the stability of the DeFi ecosystem, as a string of attacks threatens Ethereum. Thursday’s market meltdown left MakerDAO (MKR) with a $5 million hole that the project is now scrambling to fill. As this is just the latest in a series…
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The collapse in Ether’s price could lead to an emergency shutdown for DeFi leader MakerDAO, though it’s a contingency that developers are eager to avoid. As Ether’s price sees record losses, MakerDAO, the biggest player in decentralized finance (DeFi) on the Ethereum network, is looking at responses including a shutdown — though that possibility remains…
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The co-founder of bZx protocol, which was hacked last month, has taken full responsibility for the lapse and pledges changes for the future. The company that almost broke DeFi is asking for a new beginning. When the decentralized lending protocol bZx was hacked to the tune of some $1 million last month, some started questioning…
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The main idea behind the DeFi industry is that the financial product shouldn’t be managed by central server, company, organization, etc. As of early February, more than $1 billion U.S. dollars of assets reside in decentralized finance protocols, commonly called DeFi protocols. DeFi protocols and platforms offer crypto holders sophisticated financial tools that were unavailable…
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A noncustodial smart wallet for both cryptocurrencies and DApps has sealed fresh funding as its attempts to challenge existing offerings in the industry. A noncustodial smart wallet for both cryptocurrencies and decentralized applications has sealed fresh funding as its attempts to challenge existing offerings in the industry. Speaking to Cointelegraph on March 9, Itamar Lesuisse, the…
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Central banks’ growing interest in DLT reveals concerns in the traditional financial sector as the gap between the two narrows Despite the interest shown in decentralized ledger technology by central banks, cryptocurrencies continue to be mistrusted by the traditional financial system. This has been made apparent from comments by Andrew Bailey, the upcoming governor of…
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The developer behind decentralized finance protocol iEarn has quit the project citing a “hostile” and “entitled” community. Andre Cronje, the one-man development team behind decentralized finance (DeFi) protocol iEarn, has quit the project. Cronje cites a thankless experience with the DeFi community as the catalyst for his decision to leave. Speaking to Cointelegraph, Cronje states…
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