Ever since the birth of crypto the financial world as we know it has been on the verge of extinction, and the last nail in the coffin might be the mass adoption of DeFi. DeFi as a concept has been around for a while. As soon as the technology matured
Unlicensed DeFi is not only a bad idea but illegal too, says Berkovitz. Any platform that trades or processes swaps be registered as DCM or SEF. Allowing unregulated derivatives will compete with fully regulated entities. Dan M. Berkovitz, Commissioner of the Commodity Futures Trading Commission (CFTC), thinks that DeFi derivatives
BSC’s DeFi experienced a flash loan exploit for the second time in a week. A new attack drained $3 million from DeFi platform Bogged Finance. PancakeBunny suffered following a $200M major exploit. Binance Smart Chain decentralized finance ecosystem experienced a flash loan exploit for the second time in a week
The cryptocurrency market at the moment accounts to more than 2% of the overall money supply globally. This has been made possible by the constant growth of the DeFi market and its platforms. This is a remarkable achievement for the complete crypto industry and market. DeFi paves the way even
Pendle Finance has made a private investment fund worth $3.5M. The firm allows users to trade the yield offered by DeFi products. DeFi has gained a huge number of new investors. A Decentralized Finance (DeFi) protocol Pendle Finance will allow users to tokenize and sell future yields. The firm has
-DeFi building block service Furucombo exploited for $14M.-The attacker tricked the protocol into thinking that their contract was Aave V2.-Instead of draining funds, the attacker instead transfers the funds. Furucombo is a drag and drop tool that is used to create DeFi transactions that have been exploited. In addition, the
-Yearn.Finance prepared for a surge to over $60,000 before BTC.-In 2020, YFI traded higher than Bitcoin. -YFI will reach an eye-watering $200,000 per coin. After weeks of aggressive selling, Yearn.Finance (YFI) prepared for a move to $60,000 before Bitcoin. In early 2020 Andre Cronje launched YFI. Moreover, YFI is an Ethereum-based
-DeFi protocol Alpha Homora loses $37 million in Iron Bank exploit.-However, the Protocol had been monitored by Quantstamp and Peckshield.-It’s unclear how it is possible to recover the funds from their prime suspect. One of the largest DeFi protocols Alpha Homora lost over $37 million worth of funds leveraging Cream’s
-Total value locked (TVL) in DeFi hits a new all-time high over $39B.-However, a high TVL doesn’t mean increased participation or activity in the DeFi space. -Moreover, Adjusted TVL usually tracks the changes in the TVL in the ecosystem. The total value locked in decentralized finance (DeFi) has marked a new
DeFi protocol Nexus Mutual Founder gets hacked for $8M. In addition, the hacker is also a member of Nexus Mutual. Some of the stolen funds have been sent through 1inch.exchange. The CEO of decentralized finance (DeFi) insurer Nexus Mutual named Hugh Karp has lost more than $8 million worth
