Tag: DeFi

Tron TVL Balloons To Over $15 Billion: DeFi Growth Evident?

boss

The Tron (TRX) DeFi ecosystem has experienced a notable surge in activity, signaling a substantial period of growth and development. This expansion isnโ€™t limited to the realm of decentralized finance alone; recent data underscores a correlated upward trajectory within Tronโ€™s TRX token staking ecosystem. This trend suggests that both DeFi and staking on the Tron blockchain are witnessing increased interest and participation from users and investors, thereby fostering a more robust and dynamic Tron ecosystem. But, thereโ€™s more interesting side of the narrative that has provided Tron a major lift.…

Fireblocks acquires Australian defi startup BlockFold for $10m

Blockchain company Fireblocks, which is backed by Sequoia Capital, has acquired Melbourne-based decentralized finance (defi) startup BlockFold for a reported $10 million. This acquisition will allow Fireblocks to expand its services beyond custody services. Neither Fireblocks nor BlockFold has made any public statements regarding the deal. BlockFold, founded in 2022, provides smart contract development, auditing, advisory, testing, and security services for defi and non-fungible token projects. Its clients include OpenSea, Hedera Hashgraph, OpenZeppelin, among others.ย  This acquisition comes shortly after Fireblocksย launchedย its non-custodial wallet-as-a-service for businesses across various sectors.ย  The wallet…

JPMorgan, Citi Among Banking Giants Abuzz About Tokenization of Real-World Assets (RWA) as DeFi Craves Collateral

Edging towards the public Ethereum mainnet has always been a delicate business, given that banks have traditionally viewed public blockchains as more or less radioactive, both a reputational and compliance risk. JPMorganโ€™s head of Onyx Digital Assets, Tyrone Lobban, noted that the public Ethereum chain has evolved significantly over time, from the proof-of-work consensus mechanism to proof-of-stake. (The former is more energy-intensive and has made Bitcoin a bete noire of environmentalists, giving ESG-conscious banks reason to prefer the latter.) Plans to add better scaling technology and multiple data layers on…

BIS and France, Switzerland, Singapore Central Banks Successfully Test Cross Border Trading of Wholesale CBDC Using DeFi

CryptoX – Cryptocurrency Analysis and News Portal Project Mariana’s proof of concept used a hypothetical euro, Singapore dollar and Swiss franc wCBDCs between simulated financial institutions. The project relied on “a common token standard on a public blockchain which facilitates interoperability and seamless exchange of wCBDC across varied local payment and settlement systems maintained by participant central banks,” an accompanying press release said. Source The post BIS and France, Switzerland, Singapore Central Banks Successfully Test Cross Border Trading of Wholesale CBDC Using DeFi appeared first on CryptoX. CryptoX Portal

hackers from country with no internet threaten defi

While not much is known about the Lazarus Group, researchers have attributed numerous cyber attacks to them over the past decade, as well as ties to Russia. The most notorious crimes of Lazarus Group The Lazarus Group (also known as the Guardians of Peace or the Whois Team) is a cybercriminal group with an unknown number of hackers.ย  One of the earliest attacks is known as โ€œOperation Troyโ€, which took place from 2009โ€“2012. In 2014, Lazarus attacked Sony Pictures Entertainment and stole over 276 thousand company files, immediately appearing on…

Mixin Network temporarily halts operations following $200m defi exploit

Mixin Network has temporarily suspended its deposit and withdrawal services following a major attack, jeopardizing over $200 million in crypto assets. A defi protocol Mixin Network has verified a report from blockchain security firm SlowMist, confirming a hack involving over $200 million. ๐ŸšจSlowMist Security Alert๐Ÿšจ On September 23, the Mixin Network cloud service provider database was attacked, the amount of funds involved was ~ $200M. SlowMist is assisting in the investigation. Please wait for @MixinKernel updates for more information. โ€” SlowMist (@SlowMist_Team) September 25, 2023 According to a statement released…

Ethereum Staking Will Decentralize DeFi

Enter crypto staking yields, or more specifically, โ€œpost-Shapellaโ€ staking yields. Since the Shapella upgrade of the Ethereum network, users can stake and unstake their ether (ETH) at will, significantly de-risking staked ETH from a liquidity standpoint. This has been reflected in the staked ether, or stETH, discount to ETH, barely dipping past 30 bps since Ethereumโ€™s last major upgrade. Before the Shapella upgrade, stETH was a poor collateral asset due to its illiquidity and discount volatility. Now that stETH has been derisked, we have seen it overtake ETH as the…

DeFi Platform Mixin Network Faces $200 Million Crypto Hack

Mixin Network immediately suspended the deposits and withdrawals stating that they would soon announce their decision to deal with the lost assets. Earlier today, the decentralized finance (DeFi) project Mixin Network announced the suspension of all deposits and withdrawals after losing $200 million in crypto assets in a recent hack. The SlowMist team was the first to report this incident. It also noted that the breach happened through a compromise in Mixinโ€™s cloud service database. During the hack, Mixin had $94.48 million worth of Ether (ETH), $23.55 million in Dai…