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Defi Platform Cream Finance Hacked, $29 Million Lost
31.8.2021
Cream finance, a defi borrowing and lending protocol, has been the victim of a hack that erased more than $29 million from its vaults. The attacker took advantage of a loophole in the implementation for adding the amp token to the protocol. This is the second time the platform has been involved...
Martin Luther King, Jr.’s Daughter Distances Herself From Fortnite Event
30.8.2021
To the surprise of many, Epic Games added a new mode to Fortnite last week celebrating the legacy of the March on Washington for Jobs and Freedom and the man who led it, Martin Luther King, Jr. But Bernice King, the civil rights icon’s daughter, has since distanced herself from the event. It...
BCH Defi Project Detoken to Close Its Doors Over Regulatory Climate Toward Crypto Derivatives
30.8.2021
On August 28, the Bitcoin Cash-based decentralized finance (defi) platform Detoken announced the project is closing its doors on September 4, 2021. The project’s founder, Semyon Germanovich, explained that the main reason for shutting the defi project down is because of the “changing...
Cream Finance DeFi platform loses $19M in a flash loan hack
30.8.2021
The Cream Finance hacker gained $18.8 million by exploiting a reentrancy bug in the AMP token in a set of 17 transactions
Cream Finance Suffers USD 25M Flash Loan Attack
30.8.2021
Decentralized finance (DeFi) project Cream Finance (CREAM) confirmed that they've suffered an exploit today.
"C.R.E.A.M. v1 market on Ethereum has suffered an exploit, resulting in a loss of 418,311,571 in AMP and 1,308.09 in ETH, by way of reentrancy on the AMP token contract," the team...
Crudeoil Finance Enters Into a Strategy-Based Partnership With Shibanova
30.8.2021
Users were overjoyed to learn that Crudeoil Finance partnered with Shibanova, one of the most well-known initiatives in the Binance Smart Chain field. Shibanova has already been working on a full ECO system centered on the Binance Smart Chain, which comprises a DEX (AMM), farming system, and other...
Jack Dorsey Discusses Square Building a ‘Bitcoin-Native’ Dex Platform, Project Lead Shares Insight
28.8.2021
On Friday, the CEO of Twitter and Square, Jack Dorsey talked about the decentralized exchange Square is constructing called “TBD” or the “TBD BTC DEX.” First mentioned in July, Dorsey tweeted that the company has “determined [TBD’s] direction and he also...
Meme-Crypto Wars: Dogecoin and SHIB Prices Falter, Cake Monster Jumps Over 800% in 7 Days
28.8.2021
In 2021, meme-based crypto assets skyrocketed in value following the lead of the original meme crypto-asset dogecoin’s massive gains. This week a great number of digital currencies have rebounded in price but a slew of popular meme tokens are not doing so hot this week. However, one specific...
Chips In Consoles Get Pricier, Could Make Them Even Harder To Score
26.8.2021
The global semiconductor industry suffered a potentially significant setback this week when Taiwan Semiconductor Manufacturing Co. (TSMC), a preeminent chip manufacturer that counts the likes of Apple, Toyota, and other global firms among its client list, announced a price hike for its suite...
Will Polkadot save decentralized finance from Ethereum’s scaling problem?
26.8.2021
Polkadot is trying to achieve scalability without compromising network security. Early signs suggest it may beat Ethereum 2.0 in the transaction fee race
Will Polkadot save decentralized finance from Ethereum’s scaling problems?
26.8.2021
Polkadot may beat Ethereum 2.0 in the transaction fee race
Penguin Finance Integrates Chainlink Verifiable Random Function
26.8.2021
In an important move, the Chainlink Verifiable Random Function (VRF) has been integrated by Penguin Finance. Penguin Finance is a well-known gamified hub on the Avalanche blockchain. By using the capabilities of VRF, it will be able to offer completely tamper-proof random numbers to choose...
Beefy Finance and ONTO to Host Program to Mine Liquidity
26.8.2021
ONTO and Beefy Finance recently collaborated on a BIFI and AMA contest. The market valuation of Beefy Finance is about $1,120, with a 24-hour transaction volume of $1,451,393. This event will come as a huge boost for the current customers because it will be extremely profitable for them. ONTO...
Tezos Chosen by Swiss Banking and Fintech Operators to Deliver On-Chain Financial Products
26.8.2021
Incore Bank, in partnership with Inacta and Crypto Finance Group, has selected Tezos as their preferred blockchain platform to develop regulatory-compliant digital financial products via a newly developed token standard titled DAR-1. Tezos to Enable Smart Contracts for European Banks ...
Philippines Tax Agency Targets Axie Infinity Players — ‘It’s Taxable, Subject to Income Tax’
25.8.2021
According to a regional report, the Philippines Bureau of Internal Revenue (BIR) is focusing on the blockchain-powered game Axie Infinity over tax concerns. Finance Undersecretary Antonette Tionko explained to the press that BIR is looking into methods aimed at capturing Axie Infinity players...
Citigroup Files to Trade Bitcoin Futures, Says Clients Are ‘Increasingly Interested’ in Cryptocurrency
25.8.2021
Citigroup is reportedly awaiting regulatory approval to start offering bitcoin futures trading to its clients. “We are presently considering products such as futures for some of our institutional clients, as these operate under strong regulatory frameworks,” said Citigroup. Citigroup...
81% of finance execs say blockchain has gone mainstream: Survey
23.8.2021
Despite the finance service industry being bullish on blockchain and crypto, respondents still outlined cybersecurity as the greatest hurdle to mainstream adoption
Klaytn Enters Into a Collaboration With Beyond Finance
23.8.2021
Beyond Finance made headlines with the latest announcement of its partnership with Klaytn. This comes with the aim to incorporate decentralized trading of synthetic assets into the Klaytn ecosystem, thereby making the procedure accessible to millions of existing Klatyn users. As a result of...
What is DeFi, and How Can It Interrupt the Finance Market?
22.8.2021
Disclaimer: The text below is a press release that was not written by Cryptonews.com.
As the crypto market keeps booming, breaking highs and lows, new protocols keep coming in place. The sole purpose of these innovations is to streamline crypto transactions and incorporate nascent protocols in...
Impossible Finance Makes Headstart With OpenSwap for DeFi Launchpad
20.8.2021
August 18, 2021 — OpenSwap becomes the pristine addition to a feature on the recently developed launchpad of esteemed multi-chain DeFi incubator Impossible Finance. With this novel project added to its launchpad, Impossible Finance has heralded on a potentially cosmic DeFi ecospace. OpenSwap...