Tag: DeFi

CTFC cracks down on DeFi protocols Opyn, ZeroEx and Deridex

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The United States Commodity Futures Trading Commission (CFTC) is taking regulatory action against three decentralized finance protocols for allegedly failing to register various derivatives trading offerings. The U.S. commodities regulator announced that it issued orders against protocol Opyn, ZeroEx and Deridex in a Sept. 8 statement. Today @CFTC issued orders against operators of three DeFi protocols for offering illegal digital asset derivatives trading. Learn more: https://t.co/7YDbgC1Xl2 — CFTC (@CFTC) September 7, 2023 Deridex and Opyn were charged for failing to register as a swap execution facility or designated contract market…

CFTC Goes After Opyn, ZeroEx, Deridex DeFi Operations in Enforcement Sweep

The three firms face a number of accusations based on their use of blockchain-based protocols and smart contracts to function as trading platforms, according to the CFTC. The U.S. derivatives regulator is ordering Opyn, ZeroEx, and Deridex to cease the activity and pay penalties of $250,000, $200,000, and $100,000, respectively. The companies agreed to these terms to settle the charges.  Source

‘Pure’ DeFi has little chance for real-world use because of need for oracles: BIS

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The need for an oracle in decentralized finance (DeFi) is a major impediment to adoption in the real world, according to the authors of a Bank for International Settlements (BIS) bulletin. The problems with oracles are both practical and principled, and the study’s authors saw no way around them. An oracle is a third party that provides real-world data flowing to or from a DeFi protocol. An oracle is centralized by nature, and its presence means a protocol is not fully decentralized—if that is tolerated, then trustlessness is lost, the…

Five Under-the-Radar DeFi Projects You Should Be Watching

Read about five under-the-radar protocols that are expected to change the onchain game. DeFi continues to defy expectations while refusing to be written off. In 2023 the decentralized finance sector has spawned new use cases while entering new ecosystems and chains. The sort of primitives that emerged in the early 2020s, for lending, borrowing, trading, and yield generation, have undergone a makeover. The “swap token A for token B through a single liquidity pool” model popularized by Uniswap has evolved beyond all recognition: the forthcoming Uni v4 is scarcely recognizable…

ETH Spot ETF, DeFi ETF Applications to Follow BTC Spot ETF Approval as Asset Management Seeks Fees: Bernstein

The asset management industry is expected to push beyond bitcoin and ether into areas including other top blockchains, such as Solana and Polygon, and even leading decentralized finance (DeFi) assets, the note said. DeFi is an umbrella term used for lending, trading and other financial activities carried out on a blockchain, without traditional intermediaries. Source

Binance CEO CZ forecasts DeFi outgrowing CeFi in the next bull run

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Binance CEO Changpeng “CZ” Zhao predicts that decentralized finance (DeFi) has the potential to surpass centralized finance (CeFi) in the next bull run. During a Sept. 1 live X Spaces (formerly Twitter Spaces), titled CZ AMA, CZ shared his thoughts on the future of DeFi. “I think the more decentralized the industry becomes, the better,” he declares, adding that it may not be long before it takes over CeFi trading volumes: “Defi is the future, the volume is somewhere between 5% to 10% of CeFi volumes, which is not small right […]…

Balancer protocol exploited for $900K as DeFi hacks mount: 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. In this week’s newsletter, Ethereum staking services have agreed upon a 22% limit on all validators to ensure fair markets. August proved to be another costly month for DeFi as several protocols were collectively exploited for $16 million. In separate exploit news, Balancer protocol lost nearly $900,000 due to a vulnerability flagged months ago. Shibarium’s second launch proved more stable as the…

Base TVL Surges By 76% Amidst New DeFi Protocol Hype

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Base, an Ethereum layer 2 (L2) network developed by prominent cryptocurrency exchange Coinbase, has seen its total value locked (TVL) soar to new heights on Friday, August 31. This surge was triggered by the recent launch and growing hype around the decentralized exchange (DEX) platform Aerodrome. Total Value Locked on Base Reach $333 Million The total decentralized finance (DeFi) deposits on Base have hit a new all-time high following a nearly 76% spurt in the past 24 hours. According to data from DefiLlama, the network’s TVL currently stands at $346.39…