Tag: DeFi

Italian central bank backs DeFi tokenization project with Polygon, Fireblocks

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The Bank of Italy’s Milano Hub innovation center will provide support for a project developed by Cetif Advisory to research a security token ecosystem for institutional decentralized finance (DeFi).  The project has no “commercialisation purpose,” but will extend “the scope of analysis” of security tokens on secondary markets. Security tokens are digitized representations of the ownership of real-world assets. Cetif Advisory general manager Imanuel Baharier said in a statement: “We believe it is vitally important to create the conditions for DeFi to become a safe and open operating environment for…

DeFi Daily Volume Dwindles to 7-Month Lows as Sector Suffers From Hacks

Total value locked (TVL), which measures the amount of capital that is held across all DeFi protocols, slumped from $45.3 billion to $42.9 billion in July as the sector failed to turn the tide against falling asset prices. During this period, ether (ETH) traded down from $1,920 to $1,850 whilst bitcoin (BTC) failed to break through resistance at $31,500. Source 7MonthDailyDeFiDwindlesHacksLowsSectorSuffersVolume CryptoX Portal

Defi platform Era Lend exploited on zkSync, losses $3.4m in assets

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied CertiK, a leading blockchain security firm, has issued an urgent Skynet Alert after receiving multiple reports of the defi platform Era Lend falling victim to an exploitation on zkSync.  Losses are currently estimated to be around $3.4 million. Another hacking CertiK, a blockchain security technology company that frequently tweets about vulnerabilities, hacks and exploits in the space, identifies the attack as a “read-only reentrancy attack,” strategically targeting the platform’s multi-step processes, allowing the malicious actor to drain the…

Decentralized Finance (DeFi) Headed Toward a ‘Major Resurgence,’ Tribe Capital’s Boris Revsin Says

In late 2018, the crowdfunding platform Republic acquired the team behind Game Theory Group and Revsin was brought on to head its new Republic Capital arm, which was distinct from the more consulting and builder-oriented Republic Crypto group. By the time Revsin left in April 2022, Republic Capital had raised more than $600 million, held about $1 billion in assets under management and had invested in more than 80 startups, including Avalanche, Polygon, Blockdaemon and Kraken. Source

SEC reviews Ripple ruling, US bill seeks control over DeFi, and…

Top Stories This Week Chair Gensler says SEC reaction to Ripple decision is mixed, still under consideration U.S. Securities and Exchange Commission Chair Gary Gensler has commented publicly about the recent ruling on the agency’s suit against Ripple, saying the SEC is “still looking at it and assessing that opinion.” Gensler declined to comment further on the case, but said the commission is pleased with the court’s decision stating that XRP was a security when sold to institutional investors, but disappointed with the non-security ruling for retail investors and other…

Centralized exchanges will become gateways for DeFi: 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 past week in DeFi saw new advancements in zero-knowledge proofs (ZK-proofs) as a scaling solution as more DeFi protocols embraced the technology. A new United States Senate DeFi bill attracted a lot of scrutiny — though not necessarily of the positive kind — as many stakeholders came out to slam the “unworkable” legislation. The CEO of the dydx Foundation made a…

How do DeFi projects generate profit?

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This week’s episode of Cointelegraph’s Market Talks welcomes Alvin Xu, the co-founder and CEO of Maverick Protocol, a platform that is taking a new approach to building decentralized finance (DeFi) infrastructure. Xu has been in the crypto space since 2018, and before co-founding Maverick, he led products and ecosystems across MetaMask, Abra Wallet, BitTorrent and the Tron Foundation. The show kicks off with a discussion about the Ethereum Community Conference in Paris, where Xu was a guest. He gives the inside scoop on all the latest updates and developments from the conference. Capital…