Digital Currency Group (DCG), Genesis Global’s parent business, has chosen to shut down its wealth section hours after word of the layoffs spread. Genesis has been experiencing significant liquidity difficulty since the FTX crash, and this is the latest hint of concern. A spokesman for Digital Currency Group (DCG) stated
Officially announcing the acquisition of Diem Group, a Facebook-affiliated firm, and its intellectual property and other technology assets essential to run the blockchain-based payment system, Silvergate made the deal public in February of last year. In 2021, Facebook stopped working on its digital currency project because of intense scrutiny from
SushiSwap, a decentralized finance (DeFi) platform built on Ethereum, has decided to disable both its lending mechanism, Kashi, and its token launchpad, Miso. In contrast to centralized exchanges like Coinbase, SushiSwap was founded in 2020 and enables clients to swap, lend, and borrow cryptocurrencies. Using their own external wallets like
Cameron Winklevoss, co-founder of Gemini, expressed frustration in an open letter to Barry Silbert, CEO of Digital Currency Group (DCG), about the company’s slow response in regards to stopping Genesis withdrawals. About 340,000 Earn customers are still waiting for withdrawals to be restored, and he addressed their plight. Collectively, the
Total value locked (TVL) for Lido Finance, one of several decentralized finance (DeFi) protocols, has risen to the top since the Ethereum merging in September. DeFiLlama reports that as of right now, Lido’s liquid staking protocol has a total market cap of $5.96 billion in TVL, which is more than
Both versions of Defrost Finance, a decentralized leveraged trading platform built on the Avalanche blockchain, have been reported to have been hacked. This was announced after investors reported losing staked Defrost Finance (MELT) and Avalanche in their MetaMask wallets. Doran, a key member of Defrost Finance, revealed that Defrost v2
BitKeep wallet exploited of about $8 million. Users of the multichain cryptocurrency wallet BitKeep claimed on December 26 that their money had been emptied and moved without their knowledge or permission. The BitKeep team stated in their official Telegram channel that attackers have hijacked certain APK package downloads and inserted
As the decentralized finance (DeFi) spin on the centralized exchanges is scrambling to shore up client trust in the aftermath of FTX, Aave will introduce a “proof of reserve” approach to secure bridging assets on Avalanche. Over ninety-nine percent of participants in the decentralized autonomous organization (DAO) that manages Aave,
Despite the current crypto market conditions, Decentralized finance (DeFi) still proved its higher scaling potential than the traditional financial industry. Some segments of the DeFi industry continue to “display a positive trend,” while the overall value locked fell from its peak of $180 billion in December 2021 to around $50
The layer-3 blockchain infrastructure solution Orbs’ dTWAP advanced trading order feature is integrating into the SpiritSwap decentralized finance (DeFi) platform. After a thorough examination and due diligence procedure by the SpiritSwap team. Swap and limit orders now support the majority of DEX-AMMs. After this integration, SpiritSwap will be the first
