“Fundamentally, it’s due to U.S. Treasury yields being up and DeFi yields, which are higher risk, giving lower rewards,” Doo, co-founder of StableLab and Asia Lead at MakerDAO, told CoinDesk. “When yields were increased to 8%, we saw DSR [Dai Savings Rate] deposits increase by four times.” Source
“This funding round marks a pivotal moment in our evolution as we embark on a strategic expansion into the APAC (Asia-Pacific) region as part of a comprehensive growth plan for Maple,” CEO Sidney Powell said in a statement. “The network is poised to further scale its technology and forge partnerships that enable compliant and seamless lending and borrowing adoption across the APAC region, specifically in Singapore, Japan, Hong Kong and Korea,” Powell added. Source
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. Over two weeks after Curve Finance’s multiple pool exploits, the DeFi protocol has assured the hack victims that it is assessing each impacted user for reimbursement. This comes after the exploiter returned 73% of the stolen funds. The DeFi ecosystem moved beyond the Curve dilemma only to face another set of exploits this past week, with Zunami Protocol seeing its stablecoins pools…
Yoni Assia, co-founder and CEO of eToro, entered the finance industry early. After receiving stock as a bar mitzvah gift, he became a successful trader while still in high school. Those profits largely disappeared as the dot-com bubble burst just as he was beginning his military service. That would turn out to be the first of a number of dramatic highs and lows Assia has seen in his career. In this episode of Cointelegraph’s Crypto Stories, Assia recounts the early days of eToro and the launch of crypto trading on…
Bitcoin’s creator, Satoshi Nakamoto, created Bitcoin in response to the 2008 financial crisis as an alternative to government-controlled money. Since then, Bitcoin has gone to spearhead the crypto industry, with many investors calling it digital gold. Now, renowned finance author Robert Kiyosaki has argued that Bitcoin price could reach $100,000 soon and go as high as $1 million. Bold Prediction On Bitcoin Robert Kiyosaki, best known for his bestselling book ‘Rich Dad Poor Dad,’ is known to make very bullish predictions on the price of Bitcoin. In a recent post…
Curve Finance, a decentralized finance (DeFi) platform for lending stablecoins, has officially stated its intention to reimburse users who were impacted by the recent breach resulting in a $62 million loss from the system. According to a post by Curve Finance, ongoing investigations are yielding progress, with approximately 79% of the funds successfully recuperated. The platform further emphasizes its current priority, which revolves around assessing the proportional portions of each impacted user. This evaluation aims to ensure an equitable distribution of resources. The incident, which occurred on July 30, involved…
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 DeFi ecosystem is yet to recover from the crisis brought on by the Curve Finance hack, and even though the issue seems contained, another set of exploits hit the DeFi ecosystem this past week. DeFi protocol Steadefi is the latest victim of an ongoing exploit as the ecosystem was still recovering from the Curve crisis. Binance came forward to invest $5…
Obviously I’ve written about this before, and so I’m not going to get too deep into it now, but here are the highlights: Bankman-Fried is accused of violating his bond conditions in trying to tamper with multiple witnesses as well as allegedly other shady behavior. The Justice Department says that he has abused his privilege in being allowed to spend his pretrial time at his parents’ home, and therefore, it wants to put him back into custody. Source
US authorities are preparing to charge FTX founder Sam Bankman-Fried with an illegal campaign finance scheme, per court documents filed on Aug. 8. In a twist to the legal case, the prosecutors plan to file a superseding indictment for the week of Aug. 14 to incorporate Bankman-Fried’s alleged illegal campaign finance scheme into seven other existing charges. Prosecutors allege that Bankman-Fried used stolen customer funds to finance an unlawful “political influence campaign” and attempted to conceal this money through “political straw donations.” In a statement, the prosecutors explained, “The evidence…
Until now, most of crypto’s big innovations have been for crypto-natives. PayPal’s stablecoin is different, says Austin Campbell, the former head of Portfolio Management at Paxos. Source