On Saturday, May 6, 2023, the total TVL across all DeFi platforms was $49.31 billion, with Lido Finance in the lead with a 24.82% stake, or $12.24 billion. Since last month, Lido’s TVL has increased by 9%, with a modest weekly growth of 2.42%. MakerDAO, Aave, Curve Finance, and Uniswap
May 7, 2023 1 min read
After waiting for the Shanghai update, Ethereum stakers may now make withdrawals. Since the staking option was initially unveiled in December 2020, several people had been holding out in anticipation. The fact that Kraken’s U.S. staking clients seem to have been more or less drained from the system is perhaps
May 7, 2023 1 min read
Prominent exchange Coinbase has said that it would not support the Web3 gaming startup’s effort to distribute an improved GALA token through airdrop to current holders on May 15. This week, the crypto exchange informed that on May 12, it would stop supporting the GALA token (Gala V1). This means
May 6, 2023 1 min read
To improve the safety and reliability of its platform, BabyDoge seems certain that it has found a workable solution. The deflationary token platform apparently wants 100 quadrillions of BABYDOGE on the Ethereum blockchain to be burned, as suggested in a Twitter poll post. Exciting News: A Proposal to Strengthen Security
May 6, 2023 2 mins read
Letitia James, New York’s attorney general, has proposed a bill to regulate the cryptocurrency sector. It will give the New York State Attorney General more power over local crypto companies. The development of the crypto sector in New York has been stunted by the state’s regulatory measures. New York is
May 5, 2023 1 min read
According to a letter sent to shareholders on Thursday, Block reported a 16% rise year-over-year in Bitcoin gross profit to $50 million in the first quarter of 2023 due to an increase in Bitcoin sales to clients. Block said that it had received $2.16 billion in Bitcoin sales income, an
May 5, 2023 1 min read
In order to improve its Know-Your-Customer (KYC) solution, Deloitte Switzerland has partnered with Polkadot’s KILT protocol. This newfound interest in blockchain technology to enhance compliance procedures is especially relevant to the banking sector. Intriguingly, using blockchain for Know Your Customer checks might drastically cut down on expenses, speed up operations,
May 4, 2023 2 mins read
Key interest rates were increased by the European Central Bank (ECB) by 25 basis points (bps) at its May 4 meeting, signaling a moderating pace of policy tightening. In April, Euro Area inflation hit 7%, while the underlying rate has remained at a record high of 5.6%. Following a similar
May 4, 2023 1 min read
The White House has formally suggested a 30% tariff on power used for crypto mining. The tax is a key part of the Biden Administration’s proposed budget for FY 2024. The administration’s tax strategy was outlined in a blog post on the White House website. Digital Asset Mining Energy (DAME)
May 3, 2023 1 min read
With the integration of its API Portal on Google Cloud Marketplace, Flare, a Layer 1 blockchain that provides decentralized access to high-integrity data from other chains and the internet, has launched some of the first blockchain APIs to be made accessible on the platform. This makes it possible for developers
May 3, 2023 2 mins read