Tag: DeFi

FTX showed the value of using DeFi platforms instead of gatekeepers

The rapid implosion of FTX has led general investors and crypto believers alike to question the validity of crypto and, indeed, predict its end. But, an understanding of history points not to crypto’s demise but rather a move toward new technology and growth.  Financial markets move, as Willie Nelson once said, in phases and stages, circles and cycles. Companies develop ideas, grow quickly, ignite unwarranted investor euphoria and then implode — only to seed the ground for the next company, the next idea and the next growth phase. Crypto is…

Bitcoin․com Announces ‘CEX Education Program’ to Reward Victims of Centralized Crypto Failures and Bolster DeFi – Press release Bitcoin News

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press release Bitcoin.com announced the creation of a program that will reward people affected by centralized crypto company insolvencies while encouraging the adoption of decentralized finance and self-custody. The CEX Education Program will draw its resources from Bitcoin.com’s wallet token VERSE, which is launching in December. Five percent of the total VERSE token supply is dedicated to the program. Victims of FTX, Blockfi, Celsius, Voyager, and other failed centralized entities will be eligible to claim a reward from the CEX Education Program by signing up at getverse.com. In the future,…

DeFi platforms see profits amid FTX collapse and CEX exodus: Finance Redefined

Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week. The FTX collapse has created a sense of uncertainty among large and retail investors alike, who are not very sure whether they should keep their funds on centralized exchanges or not. The dilemma has led to a major uptick among DeFi protocols and decentralized exchanges. DeFi protocols and decentralized exchange (DEX) platforms gained some momentum in the aftermath of the FTX implosion. A new…

Banks still show interest in digital assets and DeFi amid market chaos

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The cryptocurrency sector is the Wild Wild West in comparison to traditional finance, yet a number of banks are showing interest in digital assets and decentralized finance (DeFi). This year in particular has been notable for banks exploring digital assets.  Most recently, JPMorgan demonstrated how DeFi can be used to improve cross-border transactions. This came shortly after BNY Mellon — America’s oldest bank — announced the launch of its Digital Asset Custody Platform, which allows select institutional clients to hold and transfer Bitcoin (BTC) and Ether (ETH). The Clearing House,…

FTX’s Collapse Has Rekindled Interest in Defi and Associated Products – Fintech Bitcoin News

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According to Julian Hosp, co-founder of the decentralized finance entity Defi Chain, the fall of the crypto exchange FTX and the domino effect it has had may have rekindled interest in decentralized finance (defi) and associated products. Hosp, however, conceded that the crypto exchange’s dramatic collapse also encourages regulators to adopt a harder line when dealing with crypto entities. Decentralized Finance Takes Center Stage While the massive failure of crypto exchange FTX and the chaos that followed is likely to embolden hardline regulators, experts like Julian Hosp of Defi Chain…

Investment Firm Paradigm Still Optimistic About Crypto — Says ‘Issues at FTX Are Precisely Ones Defi Can Solve’ – Featured Bitcoin News

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Investment firm Paradigm is still optimistic about crypto’s potential following the collapse of FTX. “The blowup of FTX has caused some to question crypto’s value. But the issues at FTX are precisely ones that decentralized finance [defi] can solve through increased transparency and security,” the firm’s co-founder emphasized. Paradigm on FTX Collapse, Defi Paradigm co-founder Matt Huang took to Twitter to explain the impact cryptocurrency exchange FTX’s collapse has on his company. Paradigm is a San Francisco-based investment firm focused on supporting crypto and Web3 companies and protocols. “We are…

DeFi platforms see profits amid FTX collapse and CEX exodus

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A week after the fallout from the FTX and Alameda chaos, some on-chain data points are interesting to observe. Although record amounts of Bitcoin (BTC) and Ether (ETH) are leaving the exchanges, not all decentralized applications (DApps) and protocols have shown growth, mainly due to reliance on FTX and Alameda.  DeFi earnings highlight positive revenue for some protocols According to Token Terminal’s earnings leaderboard, in the last seven days, three protocols had revenue above $1 million. Ethereum led the on-chain earnings with over $8.5 million total, a sign of strong post-Merge…

BINANCE just DESTROYED FTX! CRYPTO HOLDERS: I'M SCARED!

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io The MOST INSANE day in crypto just happened. FTX (as we know it) is no more. Seems like this was part of CZ Binance’s master plan all along. In this video I breakdown & explain everything. Vote Altcoin Daily for Best News Source & Influencer of the Year: Join us in Miami for Dcentral: Hit Like, Share, and Subscribe for more daily cryptocurrency news Altcoin Daily, the best cryptocurrency news media online! Follow us on Twitter: Timestamps: 0:00 – Most crazy day…

Value Locked in Defi at Its Lowest Point Since March 2021, Smart Contract Tokens Shed $22 Billion in 36 Days – Bitcoin News

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Smart contract platform tokens and decentralized finance (defi) protocols have taken a beating since the FTX collapse last week. The market capitalization of all the smart contract platform tokens in existence lost more than $22 billion during the last 36 days. The total value locked (TVL) in defi protocols has dropped to $43 billion, the lowest defi TVL since the first week of March 2021. Smart Contract Tokens and Defi Protocols See Significant Value Reductions Since FTX’s Collapse Decentralized finance and smart contract platform tokens have suffered a great deal…