Following the FTX led effect through the cryptocurrency ecosystem, crypto lending company SALT announced today that it is suspending withdrawals. SALT CEO Shawn Owen stated: “The collapse of FTX has impacted our business. Until we are able to determine the extent of this impact with specific details that we feel
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
The financial behemoth JPMorgan shared insight into the complete scenario of the demise of the prominent cryptocurrency exchange FTX. JPMorgan stated that the centralized player is the cause of the recent crypto collapse. Also, the banking giant believes FTX’s failure might eventually make way for more strong regulations for cryptocurrencies.
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
Unfortunately, DeFi space is considered to be unsafe. According to statistics, hackers have made a lot of attacks, they have stolen almost $3 billion of funds during the current year, and more than 90% of these attacks fall on the DeFi sector. The DeFi Security Alliance community is launching a
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.
Unique Active Wallets in DeFi increased by 7% (504K) from September. NFT trading volume reached $662 million, down 30% from September. The world’s largest marketplace for decentralized applications, DappRadar, revealed in its most recent report that the cryptocurrency market is growing and recovering with a market valuation of more than
JP Morgan giant using Polygon and modified Aave for live trade. SBI Digital Assets tokenized Japanese yen (JPY) assets. JP Morgan, the global leader in financial services, completed its first live cross-border transaction on a public blockchain using decentralized finance (DeFi). The trade was executed on the Ethereum layer-2 network
