The FTX Empire’s demise left many in the cryptocurrency community shocked. The crypto lending platform BlockFi was also impacted by FTX’s collapse. In the middle of the mayhem, BlockFi suspended withdrawals. Users were notified on November 11 that the New Jersey-based exchange will be restricting platform activities. BlockFi recently expressed
FTX’s hack on November 12th has seemingly compromised many Defi platform’s in assistance with the organization. Serum, the crypto lending hub built over the Solana network has undergone forking for development. This is relatively a recompensive measure by the Solana developers. Solana co-founder, Anatoly Yakovenko’s tweet: Afaik, the devs that
Celsius reported being exposed to FTX. On November 11, the business tweeted that it has FTX contracts locked up for 3.5 million SRM ($1.3 million). It also disclosed that the FTT token was collateral for $13 million in loans to Alameda Research that were not adequately backed. Celsius also said
AllianceBlock, whose goal is to provide frictionless entry points into DeFi, has announced the release of its Trustless Identity Verification (TIDV) solution on Mainnet, with the first integration occurring through the Fundrs platform. The issue of exchanging verified information without compromising security is addressed by Trustless Identity Verification (TIDV), a
The swappin.gifts app is now accessible directly through the Ambire Wallet dApp Catalog as part of the newest plug-in integration and collaboration that Ambire Wallet has developed. With its primary emphasis on enhancing the cryptocurrency user experience, Ambire is the first open-source, self-custodial smart contract wallet. There will be a
Texture, a DeFi yield platform, is now live in private beta testing after raising $5 million in a round-headed by P2P Capital and Sino Global. Wintermute, Semantic Ventures, and Jane Street Capital also participated in this round of funding. The stablecoin USDC was used to raise the money, and the valuation was not made public.
This Monday’s vote was not an executive vote but rather a ratification vote. The move has been credited for advancing the project’s greatest restructure in its history. As time goes on, MakerDAO gets closer to its “Endgame.” DeFi’s de facto central bank will establish so-called MetaDAOs and activate a new
In its Oct. 27 supporting statement for the objection, the trustee harshly criticized Celsius. Paying executives more in anticipation of a reorganization may seem counterproductive. U.S. trustee William Harrington is objecting to a Celsius motion. That would pay $2.96 million in retention bonuses to 62 of the company’s 275 workers.
Financial assets of this kind tend to be very unstable and susceptible to manipulation. The proposal won support from Compound Finance’s founder, Robert Leshner. Users of the Compound Finance protocol will no longer be able to lend assets with low liquidity. After “proposal-131” was adopted by the DAO that runs
Price manipulation is the problem, as Peckshield put it in a tweet. Peckshield’s blog post revealed that the vulnerability had been reported by Chainsecurity. On October 24th, Quickswap detailed how a $220,000 hack occurred in the Market XYZ lending market. Quickswap Lend is closing, the team announced on Monday through
