Tag: DeFi

Curve Finance to reimburse users, another DeFi hack, and ConsenSys launches L2: Finance Redefined

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. Over two weeks after Curve Finance’s multiple pool exploits, the DeFi protocol has assured the hack victims that it is assessing each impacted user for reimbursement. This comes after the exploiter returned 73% of the stolen funds. The DeFi ecosystem moved beyond the Curve dilemma only to face another set of exploits this past week, with Zunami Protocol seeing its stablecoins pools…

SEC lawsuit crushes HEX, defi traders look at InQubeta presale

The decentralized finance (defi) sector has seen rapid growth, innovation, and occasional debates. For instance, the U.S. Securities and Exchange Commission (SEC) recently sued HEX, a move that saw the token’s price plunge. Amid this, defi investors and analysts are examining InQubeta and its ongoing presale. InQubeta plans for defi InQubeta taps into the capabilities of blockchain and artificial intelligence (AI).  The project’s presale has generated significant interest due to the project’s staking model and non-fungible token (NFT) marketplace. Subsequently, the demand for QUBE has been rising in recent weeks. In the ongoing…

DeFi tries to recover from Curve hack, but exploits continue: 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 DeFi ecosystem is yet to recover from the crisis brought on by the Curve Finance hack, and even though the issue seems contained, another set of exploits hit the DeFi ecosystem this past week. DeFi protocol Steadefi is the latest victim of an ongoing exploit as the ecosystem was still recovering from the Curve crisis. Binance came forward to invest $5…

Top Crypto Exchange Binance Sinks $5,000,000 Into Curve (CRV) Following Massive Hack on the DeFi Platform

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The venture capital arm of crypto exchange Binance just announced that it is putting money into the native token of the decentralized finance (DeFi) platform Curve. In a statement, Binance Labs says that its $5 million investment in the Curve DAO Token (CRV) signifies its commitment to join forces with the largest stableswap and second-largest decentralized exchange (DEX). The announcement comes as the price of CRV dipped following a massive hack on the platform in late July. Says Binance Labs head Yi He, “Given the recent events that have impacted…

As Curve Averts DeFi Death Spiral, Fiasco Exposes Serious Risks

“I don’t necessarily think it’s a sign of unethical behavior, but it does open up risks — exactly as you’ve seen occur — and the risks are not too hard to predict,” remarked Powell. “If you have a $100 million loan, and you have that on leverage, and it’s against your token, there’s a chance your token could drop in price and you’ll need to liquidate it to cover yourself.” Source

DeFi faces stress test, DoJ fears run on Binance, Hong Kong’s…

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Top Stories This Week The decentralized finance (DeFi) ecosystem experienced a challenging week after a seismic security incident led to over $61 million being stolen from Curve Finance’s pools, leaving several protocols facing broader contagion risks. This attack exposed vulnerabilities across DeFi projects and sparked efforts to recover stolen funds over the past few days, hammering the performance of tokens and even stablecoins as a result of the dramatic ups and downs in this story. As the community navigates the aftermath of this exploit, Cointelegraph compiled the week’s events, presenting…

Optimism (OP) Tallies 13% In 7 Days Despite High Profile DeFi Hack

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In the midst of the ever-changing cryptocurrency landscape, Optimism (OP) has shown remarkable resilience, posting a notable price increase of 13.53% in the past seven days. Despite facing a slight decline of 1.80% in the last 24 hours and a further 1.35% shrinkage within the hour, Optimism remains on an upward trajectory. With the current price sitting at $1.68 per OP and still 48.38% below its all-time high of $3.26, traders and investors are eager to uncover the reasons behind its recent gains. This article explores the factors contributing to…

CRV exposure risk throws a curveball at the DeFi ecosystem: 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 $47 million Curve Finance exploit on July 30 had a domino effect on the DeFi ecosystem, mainly due to the $100 million loan taken out by the Curve founder against the platform’s native Curve DAO (CRV) token. Several lending protocols have rushed in with new governance proposals to minimize CRV exposure risks as the token price fluctuates. On Aug. 3, the…

Shiba Inu DeFi Aspirations May Rattle DOGE’s Market As SHIB Turns To Digital IDs

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Initially tagged as a meme coin, Shiba Inu has been reinventing itself, aiming to break away from its meme coin status and step into the league of serious Decentralized Finance (DeFi) contenders, according to a new report. A key step towards this transformation involves an innovation that is about to reshape the Shiba Inu ecosystem: Digital Identity Verification. Embracing Digital Identity In The Shiba Inu Ecosystem In a push to improve the platform’s credibility among users and governmental entities, the Shiba Inu project is said to integrate Digital Identity Verification…