Tag: DeFi

Opyn DeFi protocol founders are leaving crypto after CFTC crackdown

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Zubin Koticha and Alexis Gauba, two founders of the Opyn decentralized finance (DeFi) protocol, are stepping down from the project and “leaving crypto,” according to a statement from Koticha posted to social media on November 14. The statement comes approximately two months after Opyn settled an enforcement action against it from the US Commodity and Futures Trading Commision (CFTC). Hey Crypto Twitter, It’s been a while This one’s a tough one… After the regulatory action against Opyn, @alexisgauba and I have made the decision that we are leaving crypto. This…

New Fee Model Rakes In Over $1 Million In A Month Amid DeFi Frenzy

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Uniswap Labs, the company behind the decentralized finance (DeFi) protocol, has achieved a milestone in its revenue generation strategy. Just a month after its implementation, the firm’s newly introduced front-end fees have crossed roughly $1 million, a testament to the platform’s robust activity and user base. This achievement comes shortly after the mid-October decision to introduce a 0.15% fee on some certain tokens transacted on its front-end interface. This new fee structure applies to various assets, including popular ones like ETH, USDC, WETH, USDT, DAI, WBTC, and others. Analyzing Uniswap…

DeFi vulnerability leading to $6.7M exploit ‘not detected’ by auditors

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Decentralized U.S. dollar stablecoin protocol Raft claims that despite multiple security audits, the firm still suffered a security exploit leading to the loss of $6.7 million last week. According to the project’s Nov. 13 post-mortem report, a few days prior, a hacker borrowed 6,000 Coinbase-wrapped staked Ether (cbETH) on decentralized finance protocol Aave, transferred the sum to Raft, and minted 6.7 million Raft stablecoin, dubbed “R,” using a smart contract glitch. The unauthorized minted funds were then swapped off the platform through liquidity pools on decentralized exchanges Balancer and Uniswap,…

The Trading Tools Institutions Need to Enter DeFi

The necessary technology is falling into place, and the industry has the right intentions — and so, hopeful, an influx of capital will soon follow. However, this time we must ensure is that DeFi’s growth remains sustainable, and this can only happen if it stays on the right side of the law and if institutions meet the obligations of their stakeholders. Source

Crypto VC firm Spartan Capital invests in Pendle to drive DeFi growth

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Singapore-based digital asset investment firm Spartan Group has announced investment in the decentralized finance (DeFi) protocol Pendle Finance (PENDLE). After actively supporting Pendle since its launch in 2021, Spartan Group’s crypto venture capital arm Spartan Capital has made a follow-on investment in Pendle Finance through an over-the-counter, or OTC, purchase. The firm emphasized that Spartan and Pendle have had a strong partnership since the DeFi’s project inception, noting that the latest investment aims to support the project in its further ambitions. “At Spartan Capital, we recognize the transformative potential of…

Bitget integrates DeFi aggregator into crypto exchange app

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Crypto exchange Bitget has integrated a decentralized finance (DeFi) aggregator into its crypto exchange application, allowing users to swap their tokens and access DeFi services through its Web3 Wallet. According to Bitget, the effort aims to provide users with options for trading their crypto assets on the exchange. The app will also gradually include other services, including a noncustodial wallet, a nonfungible token marketplace and a decentralized application, according to Gracy Chen, managing director of Bitget. In addition, Chen also told Cointelegraph that most currencies listed on the exchange will…

Exploring the Growth and Potential of Structured DeFi Products

Globally, asset management is a huge industry, with a large percentage of assets in each nation being held in ETFs, index funds and other passive vehicles. In Europe, €28.4 trillion of assets are managed by the industry, of which 20% are held in passive strategies, about half in exchange traded products and half in index funds. All told, passively-held assets under management have doubled since 2015, with around one fifth of European retail investors holding such products. Analysts predict that by 2027 ETFs will account for 24% of total assets…