Tag: DeFi

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Today in Crypto: Bank of Russia Reveals Official CBDC Logo, Revolut Shuts Down Crypto Platform for its US Customers, US DoJ Asks Sam Bankman-Fried’s ‘Bail be Revoked and Defendant be Detained’

August 5, 2023

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________… Read More: Today in Crypto: Bank of Russia Reveals Official CBDC Logo, Revolut Shuts Down Crypto Platform for its US Customers, US DoJ Asks Sam Bankman-Fried’s ‘Bail be Revoked and Defendant be Detained’…
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Navigating the Storm: Defi’s Precarious Position Amid a String of Exploits and Market Declines

August 5, 2023

In the wake of July’s unprecedented wave of decentralized finance (defi) breaches, including Curve Finance’s staggering $62 million exploit, the defi economy has plummeted into a gloomy state. Hovering perilously close to dipping beneath the $40 billion threshold, the total value locked (TVL) in defi hangs on by a thread. Concurrently, the market of defi…
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Abracadabra’s Bold Move: 200% Interest Proposed on $18 Million Loan to Curve Founder Amidst Bad Debt Concerns

August 3, 2023

Abracadabra Finance has put forth a proposal aimed to adjust interest rates to mitigate the risk of bad debt resulting from an $18 million loan to Curve Finance founder Michael Egarov.  The proposal suggests hiking interest rates on the loan to 200% on two specific pools known as “cauldrons,” which consist of CRV tokens belonging to Michael Egarov. … Read…
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GHO and FDUSD Stablecoins See Massive Supply Growth in Recent Debut

August 3, 2023

In a recent turn of events, the cryptocurrency world has been introduced to two stablecoins anchored to the U.S. dollar — Aave’s gho (GHO) and First Digital’s stablecoin FDUSD. These dollar-tied tokens have rapidly gained momentum, witnessing substantial growth in market capitalization soon after their debut. A Look at Aave’s GHO and First Digital’s FDUSD…
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Key On-Chain Metric Points to Stagnation, Will Ethereum Ever Break $2,000?

August 3, 2023

According to Etherscan data, the number of active ERC-20 addresses has not changed much in 2023. It has stayed between 200,000 and 300,000 while Ethereum prices stagnate below July 2023 highs. As of August 2, there were about 275,000 active ERC-20 addresses, up from 156,000 on June 18. Although activity has been low overall, there was…
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Aave price takes double-digit hit, but strong fundamentals point to eventual recovery

August 3, 2023

The Aave price may have been impacted by this week’s Curve Finance scandal, but a robust insurance fund and steady fee revenue could protect against further downside. Aave, the governance token of the decentralized finance (DeFi) Aave protocol, experienced a 17% decline between July 30 and August 1, reaching the $62 level.  While the $62…
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Uniswap Delists HEX Token After SEC Deems It An “Unregistered Security”

August 2, 2023

Uniswap, the largest decentralized exchange, has removed the HEX token from its interface after it was recently declared an unregistered security by the United States Securities and Exchange Commission (SEC). This comes as another blow for the token in what has been an unpleasant week so far.  This unfavorable run has had an impact on…
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Web3 startups queue up: Consensys Startup Program partners with Cointelegraph Accelerator

August 2, 2023

Cointelegraph Accelerator participants will get a headstart with Consensys’ Web3 solutions, including MetaMask, Infura and Linea zkEVM. The transition from Web2 to Web3 is reshaping the technology landscape and attracting the attention of developers. Despite the challenges faced during the current crypto winter, the Web3 ecosystem continued to onboard new developers, with many thousands of…
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Weeks of Prosperity: MKR Holders See Wealth Grow By Over 100% Amidst Price Boom

August 2, 2023

MakerDAO (MKR) has navigated a tumultuous path in the Decentralized Finance (DeFi) market since June, marked by regulatory pressures and various challenges numerous projects face. Nonetheless, a shift in focus has occurred as altcoins, spearheaded by MKR, appear to overshadow this turbulence. Presently, the value of MKR on CoinGecko stands at $1,346, showing a noteworthy 9.1%…
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Crypto Billionaire Arthur Hayes’ Vision: AI DAOs to Become Invincible, Driving DeFi’s Supremacy over TradFi

August 2, 2023

BitMex co-founder and former CEO, Arthur Hayes, has set his sights on a futuristic concept that could revolutionize the decentralized finance (DeFi) industry: self-sovereign AI DAOs (Decentralized Autonomous Organizations). … Read More: Crypto Billionaire Arthur Hayes’ Vision: AI DAOs to Become Invincible, Driving DeFi’s Supremacy over TradFi  Read more »Sign up for e-EUR – the progressive…
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