XLD Finance, which offers cross-border decentralized finance (DeFi) tools for emerging markets, raised $13 million in a pre-Series A funding round led by Dragonfly Capital and Infinity Ventures Crypto. The funds will go toward product development and hiring engineers, according to a press release provided to CoinDesk. Source
DEK Hong Kong Monetary Authority CEO Eddie Yue said crypto and decentralized finance are still going to be significant forces at a meeting of G20 financial officials. Source
▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io What if this is MORE than just a dip? 2021 Crypto Market Outlook! WATCH WHOLE VIDEO! 👈👈👈 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 – Video Clip 1: What if this is NOT a dip? – Michael Saylor Explains 1:26 – Introduction (WATCH WHOLE VIDEO) 2:38 – Video Clip 2: Aren’t you scared that the price dropped though? – Michael Saylor Explains 4:00 – Bitcoin…
Welcome to Finance Redefined, your weekly dose of key decentralized finance (DeFi) insights, a newsletter crafted to bring you some of the major developments over the last week. This past week, the DeFi ecosystem saw several new developments despite a bearish phase brought on by the lending crisis in the crypto market. Another crypto lender, Celsius, with high stakes in DeFi protocols, filed for bankruptcy. The overall DeFi market fell to new lows in the second quarter. However, a new report indicates users haven’t given up hope. BNB Chain launched…
DeFi has much to offer the world of finance. That DeFi smart contracts worked as promised in these highly stressed market conditions to keep intact the “systems” – if not the prices – is a good proof of concept on which to build a more robust, viable system. When you remember how, in scandal after scandal, Wall Street’s centralized intermediaries have bilked the global financial system for more than a century, it’s easy to see benefits of markets, rather than opaque gatekeepers, setting prices and rates. Source
The latest price moves in bitcoin (BTC) and crypto markets in context for July 15, 2022. Source
The price of Aave (AAVE) has more than doubled in a month, but its bullish momentum could be reaching a point of exhaustion. AAVE price tests key inflection level Notably, AAVE has surged by over 103% after bottoming out locally at $45.60 on June 18, hitting almost $95.50 this July 15. Nevertheless, the token’s sharp upside retracement move has brought its price closer to the level that triggered equally sharp pullbacks since early June. In other words, AAVE has been testing an ascending trendline resistance that constitutes a “bear flag,”…
While cryptocurrency lending platform Aave’s native coin AAVE was up 15% at $91, decentralized exchange Uniswap’s UNI traded at $7, representing a 13% gain, CoinDesk data shows. Bitcoin (BTC), the biggest cryptocurrency by market value, changed hands at $20,660, up 3.5%, while Ethereum’s ether (ETH) token was priced at $1,200, up 8%. Other notable gainers were programmable blockchain Solana’s SOL cryptocurrency, privacy-focused coin monero, Polygon’s MATIC, cosmos and algorand. Source
Despite the decentralized finance (DeFi) market suffering a 74.6% market cap decline in Q2, user activity has remained relatively resilient, says CoinGecko. In a report published by the crypto data aggregator on Wednesday, CoinGecko reported that the overall DeFi market cap fell from $142 million to $36 million over the second quarter, due mainly to the collapse of Terra and its stablecoin TerraUSD Classic (USTC) in May. CoinGecko also noted a rise in DeFi exploits in the quarter contributed to the fall, including Inverse Finance and Rari, which suffered hacks…
A new report by the European Central Bank (ECB), presented as a “deep dive into crypto financial risks,” calls for “appropriate” regulation and oversight of stablecoins and decentralized finance (defi). It also addresses the hot topic of Bitcoin’s carbon footprint in Europe, suggesting a ban on proof-of-work mining is probable. Growth of Stablecoins, Defi Warrants Regulation and Supervision, ECB Says Crypto-related financial risks, those associated with stablecoins and defi platforms in particular, as well as the threat to climate transition goals blamed on energy-intensive methods of crypto mining, are in…