The decentralized finance (defi) entity, Prisma Finance, has fallen prey to a security breach, with onchain detectives revealing that $11.6 million has been pilfered from its liquid staking protocol. Prisma Finance in Turmoil: $11.6M Lost to Hackers, Emergency Measures Activated On a recent Thursday, blockchain surveillance and safety squads from Peckshield and Cyvers reported the […] Source CryptoX Portal
BlackRock, one of the largest asset managers globally, has witnessed notable success with its newly launched tokenized money-market fund, BUIDL. The fund, which records shared ownership on the Ethereum (ETH) blockchain, has attracted over $160 million in just one week since its debut. BlackRock’s BUIDL Fund According to a Bloomberg report, the BlackRock USD Institutional Digital Liquidity Fund (BUIDL) primarily invests in cash, US Treasury bills, and repurchase agreements. The fund rewards its holders with a cryptocurrency, BUIDL, valued at $1 per token. Shareholders can transfer these tokens to other…
Ondo’s action marks the first example of a crypto protocol leveraging asset management giant BlackRock’s tokenized fund offering, which debuted last week. The fund, represented by the Ethereum-based BUIDL token backed by U.S. Treasury bills and repo agreements, is targeted for white-listed, institutional clients and requires at least $5 million minimum allocation. While the strict requirements prohibits smaller investors to invest in BlackRock’s BUIDL, it allows other platforms such as Ondo to leverage the fund for its own retail-facing offerings. Source
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Ondo Finance (ONDO), a decentralized finance (DeFi) protocol focused on tokenizing US treasuries, has witnessed a meteoric rise in its native token’s price over the past week. According to CoinMarketCap, although ONDO was only able to muster a meager 1.3% increase in the last day – yet pushing its value to a record-breaking $0.94 – the impressive feat comes on the heels of a 138% weekly gain, marking an impressive performance for the token. ONDO Marks Banner Week With Big Numbers ONDO doing things right on the weekly chart. Source:…
Frax Finance, a decentralized finance (DeFi) protocol, recently unveiled its Singularity Roadmap. It aims to propel the total value locked (TVL) of its layer 2 blockchain, Fraxtal, to $100 billion by the end of 2026. This notable surge would represent a 760,000% increase from the current TVL levels, which stand at $13 million. Frax Finance Singularity Roadmap According to the protocol’s announcement, Fraxtal, the substrate that powers the Frax ecosystem, serves as Frax Finance’s operating system. With the launch of Fraxtal and achieving an effective 100% Collateralization Ratio (CR), Frax…
The road map proposed launching 23 layer 3s within a year and new assets like frxNEAR, frxTIA and frxMETIS. The existing assets, FRAX, sFRAX, frxETH, and the new ones will be issued on Fraxtal going forward, the proposal floated by founder Sam Kazemian and other contributors added. Source
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. In recent forecasts, analysts tout Borroe Finance ($ROE) as a top contender for substantial gains, while Celestia (TIA) and SATS face challenges amid market fluctuations. In a recent forecast, analysts recommended Borroe Finance as one of the best cryptocurrencies to consider investing in, highlighting its potential to moon. Meanwhile, Celestia (TIA) and SATS (SATS) struggle amid the ongoing market reversal. Analysts say Borroe Finance could moon Several analysts have…
On Tuesday, the bitcoin liquidity protocol Velar unveiled Dharma, an automated market maker (AMM) designed to enhance decentralized finance liquidity within the Bitcoin realm. The inaugural version of Velar’s Dharma is set to function on the Bitcoin layer two (L2) Stacks, featuring an initial pairing of two tokens. Velar’s Strategy to Elevate Bitcoin Within the […] Original
Indian Finance Minister Nirmala Sitharaman has stated that it is the position of the Indian government that crypto assets cannot be currencies, which are issued by central banks. She clarified that crypto assets can be used for trading, speculation, profit-making, and various other purposes. Moreover, she noted that India has raised the issue of crypto […] Source CryptoX Portal