A district court in the United States has issued a default judgment ordering Ooki DAO to cease operations. Furthermore asked to pay a $643,542 civil penalty. In September 2022, the CFTC sued Ooki DAO for “unlawfully acting” as a futures commission merchant. And providing consumers margin and leverage trading services.
Last week was quite a rollercoaster ride for the crypto market amidst the SEC’s never-ending turmoil. It had a significant impact on the overall market, and surges in crypto gains became rare. Investors have been on high alert ever since the allegations. The DeFi market is no exception. The current
The monthly industry analysis by DappRadar shows that the market for decentralized apps increased by 9.97% in May. The firm notes that the number of daily unique active wallets (dUAW) has already hit an average of 1,967,051. The study found that the gaming industry and decentralized finance (DeFi) were responsible
Blur, a decentralized finance (DeFi) platform, recently announced via its official Twitter account that it had hit a new milestone. According to the tweet, the total value locked (TVL) in Blur has reached an unprecedented all-time high of $160.82 million. Blur TVL has reached a new all time high of
The decentralized finance (DeFi) trend continues its relentless march, making a historic mark once again. The trading volumes on decentralized exchanges (DEXs) reflected this momentum, with a substantial increase of 13.5% recorded in May 2023. As reported by CryptoRank Platform, this upward trend reflects the growing trust in decentralized platforms.
In a fascinating turn of events, Solana’s blockchain platform, famed for its speedy transaction confirmations and cost-effectiveness, has been witnessing a shift in its ecosystem. 1/ @Solana, known for its low transaction costs and quick confirmation times, has found its strength in consumer products with lower-value transactions.@0xallyzach dives into some
Jimbos protocol is the latest decentralized finance (DeFi) system to be hacked, resulting in a substantial loss of funds in the cryptocurrency market. Jimbos protocol, the Arbitrum system’s liquidity mechanism, was hacked on May 28 morning, according to blockchain security company PeckShield. The hack caused a loss of 4,000 Ether,
In a move set to shake up the decentralized finance (DeFi) landscape, the MakerDAO community is poised to vote on a groundbreaking proposal that could significantly impact interest rates across the sector. The proposal seeks to raise the Dai Savings Rate (DSR) from its current 1% to an enticing 3.33%,
On May 25th, insolvent cryptocurrency lender Celsius Network announced that the auction to sell its assets to cryptocurrency consortium Fahrenheit LLC had concluded. After consulting with its official committee of unsecured creditors. Celsius Network ultimately decided to go with Fahrenheit as the high bidder in the court-supervised auction. The Fahrenheit
A major shift is coming to the tokenomics of liquid staking behemoth Lido Finance. Members of the community want to include a staking function into LDO, as hinted at in a recent proposal. Users require 32 ETH, or approximately $60,000 at today’s pricing, to stake straight to the mainnet. To
