Frax Finance has launched the Frax Name Service (FNS), a decentralized identity service that allows users to register unique names on the Frax blockchain. Frax Finance Expands Ecosystem With Launch of Frax Name Service Frax Finance has introduced the Frax Name Service (FNS), a decentralized identity service designed specifically for the Frax ecosystem. FNS is […] Source CryptoX Portal
For now, DeFi products will continue to compete with traditional products, but it is likely that the two will blend at some point. By leveraging DeFi’s technical components and CeFi’s KYC and AML requirements, we are looking at “CeDeFi”-based models becoming the most appropriate form that will be the underlying infrastructure of future finance. Source
Still, interest rates are not the only driver behind a comeback in DeFi. There are also crypto-native factors at work. The growth in stablecoin supply, which has expanded by about $40 billion since January, is crucial because “stablecoins are the backbone of DeFi protocols,” Steno said. Source
Canza Finance has partnered with stablecoin issuer WSPN to provide secure and efficient financial solutions to users in Africa and other emerging markets. With the integration of WUSD into Canza Finance’s ecosystem, African users will be able to smoothly convert fiat currencies to the WUSD stablecoin. Boosting RWA and Defi Adoption Africa-focused fintech firm Canza […] Source CryptoX Portal
Senator Tim Scott highlighted bitcoin’s potential to democratize finance and improve financial inclusion at the Bitcoin 2024 Conference. He criticized the Biden administration’s approach to digital assets and endorsed efforts to overturn restrictive SEC guidelines. Scott advocated for balanced regulation that encourages innovation without stifling growth or pushing it overseas. Senator Tim Scott Advocates for […] Original
The primary demand from India’s crypto industry was to reduce the controversial tax-deducted-at-source (TDS) policy on crypto transactions from 1% to 0.01% Source
The U.S. House of Representatives has approved another piece of cryptocurrency legislation with a routine voice vote, though the bill to set up a government working group to assess how to keep bad actors from using digital assets isn’t likely to become a law as-is. Source
Between June 19 and July 19, within a 30-day period, the total value locked (TVL) in decentralized finance (defi) dropped below the $100 billion mark, hitting a low of $86.3 billion on July 7, 2024. Over the past three days, however, the TVL has managed to stay above the $100 billion threshold. Lido Leads Defi […] Source CryptoX Portal
Dylan Meissner, 31, of Westport, has pleaded guilty to fraud in Hartford federal court, the U.S. Department of Justice (DOJ) announced. Meissner, a former Vice President of Finance at a cryptocurrency research firm, admitted to stealing over $4 million from his employer. Starting in January 2022, Meissner secured a $170,000 loan in ethereum from his […] Source CryptoX Portal
K9 Finance DAO, a pioneering decentralized autonomous organization dedicated to advancing decentralized finance (DeFi) solutions, proudly announces the successful launch of its validator on the Shiba Inu Layer 2 (L2) mainnet. Concurrently, the DAO introduces its KNINE token on the Shibarium blockchain, leveraging the official ShibaSwap platform for liquidity and trading. Integrating K9 Finance DAO’s […] Source CryptoX Portal