The liquid restaking platform Kelp DAO has reached a significant milestone in its quest to improve the restaking landscape and decentralized finance (DeFi) by announcing the closing of a $9 million private sale round. The round was spearheaded by a $3.5 million investment from SCB Limited, a Bahamas-based proprietary trading business,
According to the DeFiLlama rankings, Solv Protocol, a unified yield and liquidity layer for prominent digital assets, has crossed $1 billion in Total Value Locked (TVL), solidifying its standing as the 32nd biggest decentralized finance (DeFi) protocol. Ryan, founder of Solv Protocol stated: “Reaching this significant milestone is a testament to the
Uniswap Labs has finally responded to the SEC’s Wells notice, urging the agency to drop its enforcement action against the firm. Allegedly operating as an unregistered securities exchange and broker, the corporation has been in violation of securities laws, according to the April notification. According to Uniswap Labs, the SEC
The bankruptcy court has given the go-ahead for Genesis Global, a cryptocurrency lender, to repay its creditors with over $3 billion worth of cash and crypto. Digital Currency Group (DCG), the parent firm, will not be able to recover from its bankruptcy as a result of this ruling. On May
Pump.fun, a Solana-based token launching platform, suffered an exploit on May 16. According to a post-mortem report on its X account, it identified the exploit to be executed by a former employee who illegitimately gained access to the withdrawal authority by misusing the privileged position. The exploit which occurred at
Approximately $20 million was lost due to an exploit that hit the decentralized lending protocol Sonne Finance on Wednesday morning in Asia. According to the project’s post-mortem analysis, an exploit was found in one of the Compound v2 forks. Using the known donation attack, the hacker was able to breach
Concerning the use of AI in the financial markets, particularly decentralized finance, Kristin Johnson of the Commodity Futures Trading Commission (CFTC) has suggested measures including increased fines. Johnson expressed her worries on artificial intelligence and its implications for deregulation of financial markets in a speech she gave at the Fintech
Within the Sui ecosystem, decentralized exchange Turbos Finance has announced the introduction of two innovative liquidity strategies. The strategies include a novel Auto-swap feature linked with Dollar-Cost Averaging (DCA) strategies for easier liquidity provision, and a Sui network-centric automated liquidity management vault for CLMM positions on the Turbos DEX. LPs will be able
In May 2024, there were 7.26 million wallets on the decentralized exchange (DEX) Uniswap, up from 3.03 million in May 2023, an increase of around 140%, according to statistics from Dune Analytics. The growth in Uniswap’s user base mirrors that of other records on the platform. The cumulative trading volume
DeFi lending protocol Aave announces its plan to release version 4 (V4) by mid-2025, proposing multiple upgrades through the ‘Aave 2030 Roadmap’ on Wednesday. Through V4, the protocol introduces a new “independent and abstracted” architecture to boost efficiency in managing liquidity, capital, and risks for users. To highlight, a ‘Unified
