Tag: DeFi

Crypto Trader Eisenberg’s $110M Fraud Trial to Put DeFi Under Microscope

In court on Monday, prosecutors and defense teased upcoming testimony from Mango’s founder, Dafydd Durairaj. He spoke with a ransomware negotiator for assistance in the wake of Eisenberg’s trade, prosecutors said. This fact, they argued, could help the jury understand that Durairaj did not view the negotiations as an “arm’s-length” deal between two parties, but rather a hostage situation that could implode at any time. Source

DeFi Firm 1inch Introduces Web3 Debit Card in Partnership with Mastercard and Baanx

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Crypto Has ‘Too Many Tokens’ and Mergers Are Coming to Consolidate DeFi and Memecoins

Naturally, projects that aren’t able to compete with the larger competitors will look to merge their businesses to stay afloat. “The next wave of M&A is likely to occur in sectors where there is a high degree of fragmentation, like Layer 1 chains that didn’t break Top 10, DEXs, DeFi protocols, node operators, and possibly even NFT projects,” said Aki Balogh, co-founder and CEO of DLC.Link Source

LendFi Revolutionizes DeFi Landscape With Comprehensive App Launch

PRESS RELEASE. In an exhilarating development for the decentralized finance (DeFi) community, LendFi announces the launch of its innovative app, now available for download on both the iOS Store and Google PlayStore. This groundbreaking app introduces a suite of utility features designed to enhance user experience and financial empowerment. Among these are staking, peer-to-peer (P2P) […] Source CryptoX Portal

DeFi Protocol Ethena (USDE) Plans to Airdrop Governance Token Next on April 2

Ethena’s USDe token, often referred to as “synthetic dollar,” offers steady yields to investors by using ether (ETH) liquid staking tokens such as Lido’s stETH as backing assets, pairing them with an equal value of short ETH perpetual futures position on derivatives exchanges to keep a “rough target” of $1 price. This is also known as a “cash and carry” trade, which harvests derivatives funding rates for a yield. Source

Hashdex Bitcoin ETF (DEFI) Completes Conversion

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The Hashdex conversion comes over two months after the original ten spot bitcoin ETFs started trading on Jan 11. Excluding Grayscale’s GBTC (which entered the spot era with nearly $30 billion in AUM), BlackRock’s IBIT and Fidelity’s FBTC are leading the way in asset gathering, with each having more than $10 billion in assets under management. WisdomTree’s BTCW is the smallest of the entrants, with 1,126 bitcoins and just shy of $80 million in AUM. Original