Bitcoin.com, a pioneer in the Bitcoin and crypto space since 2015, has integrated into its wallet, games, news, and education platform a debit card that empowers users to spend their cryptocurrency seamlessly at any location Mastercard® is accepted. V-Card is now available in the Bitcoin.com app and on Bitcoin.com’s website here. “This is a game-changer […] Original
Mountain Protocol’s USDM, for example, backs its price by holding U.S. Treasuries, but passes on the bond yields to token holders unlike stablecoin giant Tether’s USDT. Maker’s stablecoin shares protocol revenues from its real-world asset (RWA) backing and DeFi lending activity for savings DAI (sDAI) holders. Meanwhile, Ethena’s “synthetic dollar” USDe harvests the funding rates with a carry trade, and shares the revenue with those who lock up (stake) the token on the protocol. Source
Donald Trump Jr., the eldest child of the former 45th president, took to social media on Wednesday to declare that decentralized finance (defi) represents the future of the financial world. “We’re about to shake up the crypto world with something HUGE,” Trump Jr. announced on X, emphasizing, “Decentralized finance is the future—don’t get left behind.” […] Source CryptoX Portal
As regulators scrutinize DeFi more closely, participants need to improve compliance around AML and KYC and make the process easier for customers, says Thomas Gentle, Compliance Officer, Quadrata. Source
The decentralized finance ecosystem has recorded a high amount of losses as the crypto market falls below the $2 trillion mark. According to data provided by Defi Llama, the total defi total value locked (TVL) plunged by 19% over the past 24 hours — falling from $88.8 billion to $71.8. This is the first time since Feb. 24 that the defi TVL has fallen to the $71 billion mark. Defi TVL – Aug. 5 | Source: Defi Llama The leading defi protocol, Lido Finance, saw a 19.2% decrease in its…
The founder of decentralized finance protocol Aave said the platform generated $6 million worth of revenue during Monday’s crypto market sell-off. Source
The attacker created (minted) 58 million of the protocol’s CVG token using a vulnerability in the protocol’s codebase, and swapped the tokens for 60 wrapped ether (wETH) and 15,900 crvFRAX stablecoin using liquidity pools on Curve, web3 security auditing firm QuillAudits said. Source
The model differs from earlier, centralized crypto lenders such as Celsius Network, which filed for bankruptcy in July 2022, and BlockFi, which followed suit four months later, said CEO Ryan Bozarth. In those cases, the companies stood at the center of the process: receiving deposits, lending them out and taking a fee from the interest payment. Source
DeFi Giant dYdX Says Its v3 Platform Is Compromised – Just as It's Reportedly Up for Sale Source
Cryptocurrency exchange Bitrue says it has allocated $40 million for its new fund to help teams develop their technology and “bring their coins to fruition.” Singaporean crypto exchange Bitrue is launching a $40 million investment fund in an effort to support nascent web3 companies, the exchange said in a Thursday blog announcement. Startups can receive up to $200,000 in funding from Bitrue Ventures, along with additional support such as development expertise, industry connections, and management support. Although no specific technical requirements have been outlined, Bitrue Ventures indicated a preference for…