Tag: DeFi

Galaxy Digital Leads $4M Strategic Funding for Parsec Finance to Revolutionize DeFi Transparency

With crucial funding secured, Parsec Finance also launched its cutting-edge institutional-focused product that aims to help provide unparalleled data to easily discover DeFi opportunities. Parsec Finance, an analytics platform focused on providing deep transparency in the nascent DeFi and NFT markets, announced a successful closure of a strategic funding round with about $4 million. According to the announcement, the Parsec Finance strategic funding was led by Galaxy Digital with key participation from Uniswap, Robot Ventures, CMT Digital, Will Price, Rice Maximalist, and Freddie Farmer, among many others. The funds are…

DeFi Protocol BarnBridge Prepares for SEC Action, Fines

The proposal includes provisions that would liquidate the treasury “and allow Ward and Murray to distribute the tokens,” although it does not say to whom. BarnBridge’s treasury sits above $200,000 in various cryptocurrencies according to public data on two wallets. Some of that cash is also earmarked for legal expenses by the proposal. Source

DeFi comes with significant risks as well as benefits

boss

The European Securities and Markets Authority (ESMA) — the European Union’s financial markets supervisory authority — released an article on decentralized finance (DeFi) and the risks it poses to the EU market on Oct. 11.  In a 22-page report, the ESMA admits the promised benefits of DeFi, such as greater financial inclusion, the development of innovative financial products, and the enhancement of financial transactions’ speed, security, and costs. However, the paper also highlights the “significant risks” of DeFi. According to ESMA, the first one is the liquidity risk tied to the…

BIS, EU central banks building data platform to track crypto, DeFi flows

boss

The Bank of International Settlements (BIS) has developed a proof of concept (PoC) for a system tracking on-chain and off-chain transactions from cryptocurrency exchanges and public blockchains including Bitcoin. Working with the Deutsche Bundesbank, De Nederlandsche Bank, European Central Bank and the Bank of France, BIS has announced a successful PoC called Project Atlas that aims to gauge the macroeconomic relevance of cryptocurrency markets and decentralized finance (DeFi) protocols. The BIS Innovation Hub published details of the concept which aims to provide insights, information and economic implications of the sector,…

DeFi Lending Project Yield Protocol to Wind Down by Year’s End

“We felt this decision was necessary because there is currently not sustainable demand for fixed-rate borrowing on Yield Protocol,” Yield said. “Additionally, the current regulatory environment in the U.S., combined with increasing regulatory requirements in Europe and the U.K., make it challenging for us to continue to support the Yield Protocol.” Source

AI is the Key To DeFi Liquidity

Country by country, the policies and regulations applicable to DeFi are, to put it mildly, fragmented. Yes, DeFi is a very new and complex field, so the situation is somewhat understandable, but analyzing and adopting many different, and ever-changing, rules makes compliance a big challenge. That said, regulatory compliance is a must so that people and businesses feel comfortable their DeFi activities fall within relevant laws. Source

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 isn’t limited to the realm of decentralized finance alone; recent data underscores a correlated upward trajectory within Tron’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, there’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.  This acquisition comes shortly after Fireblocks launched its non-custodial wallet-as-a-service for businesses across various sectors.  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. JPMorgan’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…