Aave’s stablecoin approval drew wild reactions from the crypto community, with many comparing its fate to TerraUSD (UST); however, Aave proponents were quick to point toward the overcollateralized factor. Aave DAO, the governance body behind decentralized finance (DeFi) giant Aave (AAVE) protocol, has unanimously voted in favor of creating an overcollateralized stablecoin called GHO. The…
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A group of economists evaluating the potential effects of a digital euro have insisted that restricting access to the upcoming currency is necessary to preserve the current financial system. Their study follows an earlier proposal to limit digital euro deposits at the European Central Bank (ECB) to €3,000 per person. Limited Availability of Digital Euro…
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A crypto-friendly legislator believes the Commission’s regulation-by-enforcement approach to be ineffective. According to Senator Pat Tomey, famous for his vocal support for the crypto industry, the United States Securities and Exchange Commission (SEC) could have prevented the loss of $12 billion in assets by investors who trusted Celsius, a crypto lending platform, that froze their…
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Benjamin Dean is the Director of Digital Assets at investment company WisdomTree in Europe. __________… Read More: The Blow-up of 3AC – LTCM Without the Nobel Economists Read more »Pay, Trade, Buy Bitcoin with Credit Card
The majority of the top 100 DeFi tokens traded in green, with many registering double-digit gains over the past week. Welcome to Finance Redefined, your weekly dose of key decentralized finance (DeFi) insights — a newsletter crafted to bring you some of the major developments over the last week. This past week, the DeFi ecosystem…
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There were at least three major factors that lead to the collapse of the fund, according to the founders of Three Arrows Capital (3AC) Su Zhu and Kyle Davies. After five weeks in hiding, stating that they’ve gotten death threats, the founders spoke to Bloomberg, which described the duo as “at times contrite and at…
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Su Zhu revealed the 3AC team had close ties to Terra co-founder Do Kwon, which made them overlook many red flags with the project that eventually led to a multi-million dollar loss for the hedge fund. The founders of tainted crypto hedge fund Three Arrow Capital (3AC), which filed for bankruptcy in the first week…
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Chinese citizens have begun using the digital yuan to pay “inter-city” tax bills – doing away with the need to conduct wire transfers to local tax authorities via banks. Per the China Securities Network and the People’s Daily, the first person to use the digital CNY in such a manner was a man surnamed Qi…
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The head of the US Securities and Exchange Commission (SEC), Gary Gensler, has said that his agency will “do what we can” to ensure crypto operators fall into line, but opined that many are refusing to abide by the rules governing securities. Speaking during an interview with Bloomberg TV, Gensler stated that many operators’ business…
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Aave will leverage Pocket’s distributed network of 44,000 nodes to access on-chain data from various blockchains. Aave (AAVE), an open source decentralized finance (DeFi) protocol, is teaming up with decentralized Web3 infrastructure provider Pocket Network to offer developers increased scalability and ease of use when building decentralized applications (DApps) on the Aave Protocol. According to the…
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