Tag: finance

European regulators assess DeFi risks, Uniswap launches Android wallet: 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, European securities regulators have published a report on the DeFi ecosystem that lists the risks it poses to the European Union’s financial system — but also highlights the benefits of DeFi. Uniswap has launched Android wallet beta on Google Play, with the app gaining popularity among desktop and Apple iOS users. DeFi platform Star Arena recovered 90% of…

G20 Finance Ministers Unveil Joint Communique to Regulate Crypto Assets

The initiative follows the introduction of a roadmap proposed in a synthesis paper by the IMF and FSB, aimed at fostering international policies and regulations for crypto assets With the growing participation of investors in the crypto market, the group of G20 Finance Ministers and Central Bank Governors (FMCBG) have agreed to work on a common roadmap in handling the challenges associated with the crypto market. The roadmap was introduced through a collaborative synthesis paper by the International Monetary Fund (IMF) and the Financial Stability Board (FSB). This synthesis paper…

Galaxy Digital Leads $4M Strategic Funding for Parsec Finance to Revolutionize DeFi Transparency

With crucial funding secured, Parsec Finance also launched its cutting-edge institutional-focused product that aims to help provide unparalleled data to easily discover DeFi opportunities. Parsec Finance, an analytics platform focused on providing deep transparency in the nascent DeFi and NFT markets, announced a successful closure of a strategic funding round with about $4 million. According to the announcement, the Parsec Finance strategic funding was led by Galaxy Digital with key participation from Uniswap, Robot Ventures, CMT Digital, Will Price, Rice Maximalist, and Freddie Farmer, among many others. The funds are…

Decentralized finance yet to pose ‘meaningful risk’ to stability — EU regulator

boss

Decentralized finance (DeFi) is yet to pose a meaningful risk to overall financial stability but does require monitoring, according to the European Union’s financial markets and securities regulator. On Oct. 11, the European Securities and Markets Authority (ESMA) released a report titled Decentralized Finance in the EU: Developments and Risks. Aside from discussing the nascent ecosystem’s benefits and risks, the regulator concluded it is yet to pose a sizeable risk to financial stability. “Crypto-assets markets, including DeFi, do not represent meaningful risks to financial stability at this point, mainly because of…

Lido Finance discloses 20 slashing events due to validator config issues

boss

Ethereum staking protocol Lido Finance has disclosed its protocol saw 20 slashing events due to a series of infrastructure and signer configuration issues from validators operated by Launchnodes. The incident occurred on Oct. 11 at about 3:30 pm UTC, according to Launchnodes. In an Oct. 11 post on X, Lido said Launchnodes’ validators nodes are now offline, and slashings have ceased while the root cause was being investigated. The slashing took place on the Ethereum blockchain and Lido projected the impact to be around 20 Ether (ETH), worth $31,000, as…

How Blockchain-Based Digital Wallets Transform Finance and More

Today, individuals, many small and medium enterprises as well as institutions operate across a fragmented set of financial accounts that each require separate types of paper-based documentation (often stored in electronic form). For individuals, this includes checking and savings accounts that deal with the entity’s cash; brokerage and investment accounts that deal with retirement, education, healthcare and more; liability accounts that deal with mortgages, loans, lines of credit or credit cards; and a significant number of accounts that relate to the individual’s assets, valuables and collectibles including special documents such…

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?

boss

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…