Tag: finance

Zero-knowledge proofs show potential from voting to finance – Cointelegraph Magazine

In a world increasingly anxious about privacy and exploitation of one’s personal data by governments, corporations, social media platforms and banks, zero-knowledge proofs may offer some relief.  Indeed, this emerging cryptographic protocol could partially remedy two rapidly growing global deficits: privacy and truth. ZK-proofs have already found a home within the cryptocurrency and blockchain sector — enabling scaling protocols to make Ethereum transactions faster and cheaper, for example. But this may just be the beginning.  One day, ZK-proofs could help convince your bank that your income is above a certain…

Frax Finance unveils documentation for dollar-pegged stablecoin

The community of Frax Finance, a decentralized finance protocol, has announced its unveiling of FRAX v3, a stablecoin pegged to the U.S. dollar. The stablecoin employs AMO smart contracts and permissionless, non-custodial subprotocols to maintain its stability.  Official documentation now live In a post updated 3 days ago, Frax Finance has released the official documentation for FRAX v3, a stablecoin designed to maintain its value through the use of AMO smart contracts and permissionless, non-custodial subprotocols.  Among these subprotocols, Fraxlend, a decentralized lending market, and Fraxswap, an automated market maker…

September sets 2023 exploit record, and DAOs can democratize science: Finance Redefined

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, September became the biggest month of crypto exploits in DeFi, with over $300 million in losses, and the popular DeFi lending protocol Yield announced its permanent closure by December. Polygon co-founder Jaynti Kanani has stepped down from his day-to-day roles at the firm, saying he will now monitor from the sidelines, and decentralized autonomous organizations (DAOs) can help…

Justin Sun Unstakes 20,000 Ethereum (ETH) From Lido Finance, What’s Going On?

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A crypto wallet associated with Justin Sun, the co-founder of Tron, a smart contract platform, has moved 20,000 Ethereum (ETH) worth roughly $32.4 million from Lido Finance, a liquidity staking platform. Funds were transferred to Binance, the world’s largest crypto exchange, trading volume and client count. Justin Sun’s ETH transfer from Lido Finance| Source: The Data Nerd on X The transaction, executed in a single batch, was captured by The Data Nerd, an analysis platform, and shared on X on October 5. As it is, Ethereum (ETH) is under pressure, looking…

Blockchain finance to reach $79 billion market by 2032

According to a report by Allied Market Research, blockchain financial market participants are now exploring collaborations and acquisitions as a core strategy. The traditional finance industry’s challenges caused by the COVID-19 pandemic, coupled with the promise of lower operating costs, increase the chances of greater global adoption of the digital ecosystem. “Blockchain technology has the potential to revolutionize the blockchain finance market by significantly improving settlement processes and expediting payment transactions.” Allied Market Research The main advantages of blockchain finance industry include the use of significant computing power, which makes blockchains…

Blockchain finance to grow into $79.3B market by 2032

The global blockchain finance market — encompassing public and private blockchains, trading, payments, settlements and asset management — is well-positioned to grow into a $79.3B market by 2032. A report by Allied Market Research revealed that the blockchain finance market players are heavily exploring collaborations and acquisitions as a top strategy. COVID-19 pandemic-induced disruptions in traditional finance, coupled with the promise to reduce operational costs set the stage for the mainstreaming of the digital ecosystem. The public blockchain sub-segment accounts for dominant market share. Source: Allied Market Research In 2023, the…

Chainlink quietly changes multisig rules, Mixin offers $20M bounty: 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 was dominated by developments in some of the OG DeFi protocols, with Uniswap Foundation announcing plans to raise $62 million in new funding and decentralized oracle service provider Chainlink brushing aside concerns about changes it made to multisignature wallets. Mixin Network, which was hacked for nearly $200 million in crypto assets on Sept. 23, has now offered…

Curve Finance Founder Clears Aave Loan, Reduces Total Debt To $42.7 Million

Michael Egorov, founder of Curve Finance, has settled his loan on the Aave Protocol and cut his total debt to $42.7 million.  Egorov’s DeFi debt profile was revealed on August 1 following a Curve Finance hack that extracted $73.5 million worth of assets across various liquidity pools.  As expected, the exploit caused a significant decline in the price of CRV, with the Curve governance token losing over 24% of its value in a single day, based on data from CoinMarketCap. This fall in CRV’s market price brought much attention to…

DeFi activity on the decline, but investment rolls in: 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. A new analysis by investment management fund VanEck revealed that economic activity in the DeFi sector dropped 15.5% in August. Blockchain Capital, on the other hand, announced two new crypto-focused funds totaling $580 million. Balancer protocol blamed its recent exploit on its DNS service provider, claiming that a vulnerability in the code allowed the exploiters to hijack the front end, and Chainlink…

Fuji Finance is sunsetting operations due to dwindling funds

Decentralized finance cross-chain money market aggregator Fuji Finance said the protocol was unable to find the market for its product, while also experiencing limited finance. In a recent Medium blog post, the company said that it failed to find “product-market fit,” a situation which was made more difficult amid the current crypto bear market. Fuji Finance’s attempts to raise additional funds for further development proved futile, and its team has been trying to attract more investors since last February, according to the blog post, but the effort seemed unsuccessful, causing…