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Defi Not a Risk to Financial Stability Yet, EU Securities Regulator Reports
13.10.2023
Decentralized finance (defi) brings risks for investors but is yet to pose “meaningful risks” to financial stability, according to Europe’s securities watchdog. The agency believes, however, the phenomenon deserves attention in light of the EU’s new crypto rules as well as growing user base and...
Decentralized finance yet to pose ‘meaningful risk’ to stability — EU regulator
12.10.2023
The European Securities and Markets Authority argued that DeFi was still too small to pose any sizeable risks to overall financial stability, but should be monitored
Smart Contract Automation Helps Dapps Maintain Data Integrity Without Relying on External Databases — Pavel Salas
9.10.2023
According to Pavel Salas, the chief growth officer at Gear Foundation, on-chain smart contract automation makes applications “truly decentralized” because it “removes dependencies on centralized servers or external entities.” Salas also claimed that on-chain smart contract...
Backed Finance Tokenizes Treasury Bond ETF on Coinbase’s Base Network
7.10.2023
Backed Finance, a real-world asset tokenization issuer, announced its successful issuance of the first tokenized security on Coinbase’s Base, a layer two (L2) blockchain. The team introduced bIB01 tokens to the decentralized finance (defi) sector, mirroring the price dynamics of the Ishares...
The Leading 5 Defi Categories Overseeing Billions: An October 2023 Snapshot
2.10.2023
As of October 1, 2023, $39.50 billion is nestled within decentralized finance (defi) platforms. Let’s dive into the top five categories, spotlighting the diverse array of defi protocols, the count of these applications, and the wealth they encompass. A Look at 5 Defi Categories Commanding...
‘FTX Drainer’ Resurfaces: Moves $8M ETH to Defi Platforms
30.9.2023
Per onchain evidence, the culprit dubbed the “FTX drainer” shifted 5,000 ethereum valued at approximately $8 million, gauged by today’s exchange rates. This marked the first movement of the funds in nearly a year, with the malefactor channeling the ether into the decentralized...
Non-Regulation of Web3 Space Making ‘Mainstream Adoption Harder’ Says AGG’s Jack Vinijtrongjit
29.9.2023
According to Jack Vinijtrongjit, the co-founder and CEO of the Web3 infrastructure company AAG, more prospective users will be drawn to decentralized finance (defi) and non-fungible tokens (NFTs) if tools that help them avoid falling prey to scammers are developed and deployed. Vinijtrongjit argued...
Decentralized Exchange Mixin Kernel Confirms Hack on Its Platform Involving Approximately $200M
25.9.2023
Mixin Kernel confirmed on Sept. 25 that it was the victim of a hacking attack which had resulted in the loss of assets on the mainnet. The decentralized exchange said it has since suspended deposit and withdrawal services and only expects to restore normal services once a probe into the incident...
Liquid-Staking Token-Backed Stablecoin MKUSD Surges 27,000% in Under a Month
23.9.2023
Since the start of 2023, the size of the stablecoin economy has decreased amid numerous redemptions. However, new stablecoin asset projects, such as Aave’s GHO, First Digital’s FDUSD, and Paypal’s PYUSD, have emerged. On September 1, a stablecoin protocol named Prisma Finance...
Client Demand and ‘Negative Events’ Pushing Tradfi Institutions Towards Crypto — Bitrue Chief Strategy Officer
23.9.2023
Growing client demand for cryptocurrencies and the belief that they represent a new asset class help to explain traditional financial institutions’ newfound interest in digital assets, the chief strategy officer at Bitrue has said. The collapse of FTX and Terra Luna in 2022 and the resulting...
Digital Assets Worth Billions Still Secure Despite Rise in Cyber Attacks — Former Microsoft Security Lead
22.9.2023
A former Microsoft Security Lead has insisted that a great proportion of digital assets worth billions of dollars are secure and are being “safely managed by hundreds of protocols.” The security expert suggested that protocols also need to have a platform that allows users to rate...
More SEC Enforcement Action is Coming With DeFi in Firing Line, Warns Key Agency Official
20.9.2023
The head of the US Security and Exchange Commission (SEC)’s Crypto Assets and Cyber Unit David Hirsch just sent a chilling warning to the crypto industry, which has already found itself heavily in the agency’s crossfire in recent months....
Read More: More SEC Enforcement Action is Coming With DeFi...
Decentralized finance needs alternatives to blockchain
18.9.2023
Critics often overlook the inconvenient fact that “decentralized” blockchains in fact depend on centralized points of failure that have the potential to corrupt entire ecosystems
Dex Trade Volumes Plunge 37% Since May; September Volumes Could Be Even Lower
18.9.2023
After capturing $66.5 billion in May, decentralized exchange (dex) trade volumes have fallen for four consecutive months, with August statistics reaching a 2023 low of $41.7 billion. Metrics for the first half of September do not show improvement, with decentralized exchange trade volumes at about...
Russia Considers Legalizing Defi DAOs to Draw Liquidity to Its Digital Assets Market
15.9.2023
The Finance Ministry in Moscow is pushing to legalize decentralized financial organizations to attract capital to Russia’s regulated market for digital assets. The department hopes this would allow some of the liquidity in the decentralized finance (defi) and crypto space to be invested in Russian...
Coinbase CEO Urges Defi Protocols to Challenge Regulatory Crackdowns in Court
15.9.2023
The CEO of the cryptocurrency exchange Coinbase has encouraged decentralized finance (defi) protocols to fight regulators in court if they face regulatory crackdowns. He stressed that the Commodity Futures Trading Commission (CFTC) “should not be creating enforcement actions against decentralized...
Defining Oracles: Enablers of the Decentralized Finance World
13.9.2023
Oracles are entities that enable various functions in blockchain structures by providing access to legacy or offchain information systems, acting as data ports for decentralized finance applications. These oracles act as information providers for tasks that require either the posting of data...
What Is XRP? A Brief History of the Real-Time Gross Settlement System
13.9.2023
While Ripple has its critics, there exists a passionate ‘army’ of XRP advocates who firmly believe it represents the future of decentralized finance and cross-border settlement. In this Learning and Insights guide, our objective is to walk you through a brief history of Ripple and...
What Are Smart Contracts? Unpacking Today’s Digital Agreements
10.9.2023
In the digital currency realm, smart contracts have enhanced the financial industry through tokenization, decentralized finance (defi) and other agreements in the form of self-executing code. But how exactly do they work? What benefits do they offer? Here’s a concise overview of smart...
CFTC Cracks Down on 3 Defi Platforms for Offering Illegal Derivatives
9.9.2023
The U.S. Commodity Futures Trading Commission (CFTC) has issued orders against the operators of three decentralized finance (defi) protocols. The regulator accused them of committing various violations of commodity laws including illegal trading of digital asset derivatives. U.S. Commodities...