Month: June 2023

Over $204M lost to DeFi hacks and scams in Q2: Finance Redefined

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Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. The second quarter of 2023 saw over $208 million exploited and hacked from DeFi protocols, and with just $4.5 million of funds recovered, total losses to exploits were over $204 million. The DeFi ecosystem is an ever-growing industry with billions of dollars in daily trading volume. Still, it remains niche to a small population in the crypto industry and out of reach…

Azuki Teases Anime Series, New Artwork After Elementals Mint

At the time of writing, Azuki Elementals’ floor price was 1.29 ETH, about $2,480, with a trading volume of about 11,930 ETH, or just under $23 million, according to OpenSea. The floor price of Azuki is currently hovering at 8.19 ETH, about $15,775, with a trading volume of over 596,900 ETH, or over $1.1 billion. Source

Polygon proposes architecture for ‘Polygon 2.0,’ including aggregator bridge

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Polygon Labs, creator of the Polygon network, has proposed an architecture for its forthcoming “Polygon 2.0” project. The team suggested in a June 29 blog post that the new project should be made up of four different “layers” that will combine to create a web of networks ultimately connected to each other through Ethereum. If approved by validators, Polygon 2.0 will also feature an aggregator that makes bridge transactions “near-instant and atomic,” the team said. 1/ Today, we are excited to propose the Polygon 2.0 architecture, designed to provide unlimited…

Crypto VC is struggling only from a North American perspective — Animoca Brands CEO

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The crypto space has been in an uneven state around the world, with Web3 startups flourishing in the Middle East and Asia, while North American crypto entrepreneurs face challenges under tough macroeconomic and regulatory conditions, according to Animoca Brands CEO Yat Siu.  Speaking with Cointelegraph at the Collision Conference, in Toronto, Siu highlighted the main differences between the environment for crypto businesses worldwide, stressing that it is not “as bad as it sounds”. According to him, Web3 startups can still raise funding from venture firms, but current conditions like higher…

South Korean crypto lending firm Delio under investigation by regulators

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According to a report by local news outlet Digital Asset, South Korean crypto lending firm Delio is currently under investigation by the country’s Financial Services Commission (FSC) as of June 30. The Commission alleges fraud, embezzlement, and breach of trust related to Delio’s unilateral decision to suspend users’ deposits and withdrawals on June 14.  During an extraordinary investors’ meeting on June 17, Jung Sang-ho explained that the firm would resume withdrawals, albeit with no fixed schedule at the time. On June 27, the company began opening withdrawals for a portion…

SEC finds spot bitcoin ETF applications lacking in details

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The U.S. Securities and Exchange Commission (SEC) has reportedly found recent applications for spot Bitcoin exchange-traded funds (ETFs) wanting in specificity, despite filings from major players like BlackRock and Fidelity. The United States Securities and Exchange Commission (SEC) has reportedly deemed the recent flood of spot Bitcoin exchange-traded funds (ETFs) applications as deficient, based on a Wall Street Journal article. Insiders have shared that the topmost regulatory body has pronounced the applications insufficiently detailed. This information…

Will Europe’s Digital Euro Really Protect Privacy?

You see, unlike Olejnik, I think CBCDs, if done right, could bring real economic value. I see the smart contract capabilities enabled by true peer-to-peer monetary settlement bringing new, society-wide efficiencies that bank-intermediated IOU money simply cannot. I continue to prefer a private sector-led stablecoin model and believe bitcoin and other native cryptocurrencies are critical to our financial future. But it’s simplistic to dismiss CBDCs as meaningless. Whether crypto people like it or not, CBDCs will bring the power of monetary programmability to the economy. (Bafflingly, the EC proposal would…

Celsius to Potentially Sell More Than $170M in Cardano (ADA), Polygon (MATIC), Solana (SOL) and Altcoins for BTC, ETH

According to court documents from last December, Celsius controlled 90 million MATIC, 103 million ADA, 161,000 SOL, 3.3 million LINK, 1.8 million polkadot (DOT), 200,000 litecoin (LTC) and 106,000 AAVE on November 25, 2022. It was not entirely clear what the company’s current positions are in those assets and how much of those are to be excluded from the sale. Source