Maple’s new lending pool offers accredited investors, crypto firms and DAO treasuries a way to earn yield on their idle stablecoin holdings by investing in one-month U.S. Treasury bills. Source
Crypto lender Maple Finance has rolled out a United States Treasury pool for non-U.S. accredited investors and entities. According to an Apr. 19 post, Maple Finance has launched a new Cash Management Pool for institutional Web3 investors to access U.S. Treasury Bills directly. The offering is not available to U.S. individuals or entities. The pool will source yield from one-month U.S. Treasury bills and reverse purchase agreements, less fees, to lenders, with crypto hedge fund Room40 Capital serving as the sole borrower via a special purpose vehicle (SPV). Maple developers…
Bank of Russia is building a system of gateways with foreign payment networks and is now working with Turkey in this field. Russia’s monetary authority would also allow the experimental use of cryptocurrencies in foreign economic activities, its head was quoted as saying. Russia’s Central Bank ‘Actively Working’ With Turkey on New Payment Gateways The Central Bank of Russia (CBR) is developing payment gateways with foreign payment systems and is actively working with Turkey in this area, Governor Elvira Nabiullina said at a meeting with lawmakers in the State Duma,…
Bank of England deputy governor Sir Jon Cunliffe spoke at the Innovative Finance Global Summit in London on April 17 about the development of tokenization. The UK’s central bank is currently exploring tokenization in bank money, non-bank money and central bank money and the ways tokenized assets will interact. Stablecoins, Cunliffe said, “offer the possibility of greater efficiency and functionality in payments,” but “it is extremely unlikely that any of the current offerings would meet the standards for robustness and uniformity we currently apply both to commercial bank money and…
The hacker was able to withdraw more tokens than were initially deposited. There appears to be a rising case of DeFi exploits and multichain lending protocol Hundred Finance may be the latest victim. According to a recent announcement by the protocol, attackers found a loophole to successfully manipulate the exchange rate between ERC-20 tokens and hTOKENS. And as a result, the attacker has reportedly made away with no less than $7.4 million from the protocol. Meanwhile, it might be worth noting that this is the second time in as many…
Multichain lending protocol, Hundred Finance, was hacked on Ethereum’s layer-2 scaling solution, Optimism, resulting in a loss of approximately $7.4m. Hundred Finance hacked On April 15, the DeFi platform announced that it had contacted the hacker and collaborated with many security teams. The protocol also requested anyone with information to get in touch. Estimated current loss is ~7m USD. Once again we hope the hacker will reach out back to us and we will be able to find a joint solution to resolve this matter. 🙏 Thank you everyone for…
Multichain lending protocol Hundred Finance has experienced a significant security breach on the Ethereum layer-2 blockchain Optimism. According to the protocol on Twitter, the losses sit at $7.4 million. Hundred Finance announced the exploit on April 15, saying it had contacted the hacker and was working with various security teams on the incident. Although the protocol didn’t reveal how the attack was executed, blockchain security firm Certik noted that it was a flash loan attack: #CertiKSkynetAlert @HundredFinance’s attacker manipulated the exchange rate between ERC-20 tokens and htokens which allowed them…
The G20 finance ministers and central bank governors have agreed that crypto regulation cannot be confined to one part of the world, said India’s finance minister. “Any action on crypto assets will have to be global,” she stressed, adding that the G20 finance chiefs’ discussion on crypto was “very substantive.” G20 Finance Chiefs on Crypto Regulation Indian Finance Minister Nirmala Sitharaman spoke about the G20’s discussion on crypto regulation Thursday during a press briefing that followed the G20 finance ministers and central bank governors meeting, held on the sidelines of…
Lido Finance, a liquidity staking protocol supporting the various protocols, including Ethereum and Solana, remains the most dominant decentralized finance (DeFi) application as of April 14. Lido Finance’s TVL rising The total value locked (TVL) on Lido, a measure of all assets managed by a dapp, stood at over $12.6 billion. Notably, less than 24 hours after the activation of the Shanghai upgrade on the Ethereum blockchain, Lido Finance has added more than $1.1 billion, representing around 10% of the total TVL. Lido Finance TVL | Source: DeFiLlama With the Shanghai upgrade,…
ZA Bank, Hong Kong’s biggest virtual-only lender, intends to expand its business into the region’s growing digital assets sector. The banking platform will offer crypto-to-fiat conversions and account services as the Chinese financial center is seeking to embrace the industry. ZA Bank to Provide Services to Crypto Exchanges Licensed in Hong Kong Hong Kong’s first and largest virtual bank, co-founded by Chinese billionaire Ou Yaping, is looking to facilitate transfers of digital and fiat currencies for participants in the city’s developing crypto sector, Bloomberg reported quoting the lender’s top executive.…