Tag: finance

DeFi Protocol Yearn Finance Impacted in Nearly $11M Exploit That Occurred Via Aave Version 1

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Euler Finance opens redemptions after hacker returns funds

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On April 12, Ethereum-based noncustodial lending protocol Euler Finance announced that it would open redemptions after hackers returned the vast majority of assets stolen in a $197 million flash loan exploit last month.  Euler says it will repay all sub-account liabilities at the block the protocol was disabled on March 13. The on-chain price oracle, provided by either Uniswap or Chainlink, will determine the Ether (ETH) value of assets and liabilities. The company explained: “Markets that have bad debt in excess of reserves (a few long-tail markets that suffered oracle…

RenQ Finance Raises Nearly $1 Million in 24 Hours as Stage 4 Completes – Press release Bitcoin News

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press release PRESS RELEASE. After RenQ Finance achieved remarkable success by completing stage 4, they generated immense excitement among investors after embarking on stage 5. In just the last 24 hours of stage 5, RenQ has secured over $1 million in funding, bringing the total raised for this stage to an impressive over $7,7 million out of the $9,3 million target. This achievement is a testament to the confidence and support of RenQ’s investors based on its poise to outshine all other DeFi platforms, propelling the company towards its funding…

Euler Finance Lets Users Redeem Recovered Funds Following $200M Theft

Users are able to redeem their share of recovered funds, which stand at 95,556 ether (ETH) and $43 million of the DAI stablecoin, collectively worth about $223 million based on current prices. The price of EUL, the native governance token of the Euler Protocol, has increased 2.5% in the past 24 hours, but has slid 9.4% in the past week, per CoinGecko Source

Dollar to Play Lesser Role Due to Its Weaponization, Digital Currencies, Economist Jeffrey Sachs Says – Finance Bitcoin News

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Within the next decade, the U.S. dollar will play a much less dominant role than it is today, according to Jeffrey Sachs. The renowned economist listed a few factors for the diminishing status of the greenback such as its use as a political weapon by Washington, the introduction of currencies like the digital yuan, and America’s shrinking share of the global economy. United States’ Smaller Share in World Economy to Affect the Dollar The role of the U.S. dollar will naturally decrease as the share of the United States in…

Hong Kong finance secretary says time is ripe to invest in web3

Paul Chan Mo-po, the Hong Kong finance secretary, thinks this is the right time for the city to invest in web3 technology. Web3 is maturing According to reports on April 9, Mo-po is confident that despite the recent volatility witnessed in the cryptocurrency markets, marked by the collapse of major centralized exchanges and platforms, the time is right to promote development in web3. Specifically, in a blog, Mo-po said the technology space is quickly evolving, and investment in the sphere could be timely. He added that an in-depth exploration of the technology…

RenQ Finance Presale Smashes Expectations, Raising in Total Over $5M and $200K in the Last 24 Hours – Press release Bitcoin News

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press release PRESS RELEASE. RenQ Finance has recently announced the launch of the fourth stage of its fundraising plan on its official website, following the successful completion of stage 3. The project has already raised a total of $5 million in a short period of time since its launch. The latest update reveals that the Stage 4 fundraising has reached an impressive milestone, with $5M raised in total, of which already $200K in the last 24 hours. This presale event is part of an 8-stage fundraising plan to raise close…

Ethereum projects launch MEV Blocker to protect users from high prices: Finance Redefined

Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week. A total of 27 Ethereum projects joined hands to minimize the cost incurred by users in the form of maximal extractable value (MEV). The launch partners include Balancer, Gnosis DAO, Shapeshift and StakeDAO, to name a few. Rugpulls in the DeFi ecosystem are nothing new, but in the first quarter of 2023, 73.3% of all rug pulls happened on Binance’s BNB Chain. The DeFi…

Core Inflation on Upward Trend, Further Rate Hikes Expected, ECB Execs Say – Finance Bitcoin News

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Amid underlying inflationary pressures, further interest rate increases may still be needed, members of the European Central Bank’s Governing Council have admitted. At the same time, the cycle with the highest hikes may soon be over, the officials indicated. End of Most Aggressive Rate Hikes in Sight Despite Inflation, but More to Come Before It’s Over Two members of the Governing Council of the European Central Bank (ECB) have shared their assessments of the inflation outlook in the eurozone and expectations regarding the monetary authority’s next moves in that respect,…