Tag: finance

Compound Founder’s New Venture Superstate To Bridge Traditional and Blockchain Finance

Compound’s Founder and CEO, Robert Leshner, has announced the launch of a new venture, Superstate (@superstatefunds). “Superstate’s mission is to create regulated financial products that bridge traditional markets & blockchain ecosystems,” said Leshner, signaling a significant shift in the financial industry. “Currently, the primary limiting factor to DeFi is that crypto-native assets are the only interoperable assets,” Leshner stated, reflecting on the challenges facing the decentralized finance (DeFi) sector. However, Leshner sees a future where “hundreds of trillions of ‘offline’ assets will find their way onto blockchains,” with Superstate spearheading…

Maple Finance announces direct lending to fill the void left by BlockFi, Celsius

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Web3 lending platform Maple Finance has announced the launch of a direct lending program, according to a June 28 fact sheet from the platform’s development team. The program is intended to replace services previously provided by Celsius, BlockFi and other now-bankrupt lenders. The first lending pool will be available sometime in July, the company stated. Introducing Maple Direct, the new lending arm of Maple Finance. With the formation of Maple Direct, Web3 now has a specialist digital native lender and launches to meet the growing institutional demand for a trusted…

Berlin: The Center for Decentralized Finance – and Techno Music

When the tech hub of Europe meets a society that prizes financial autonomy, the result is a crypto community that practices the very decentralization it preaches. Case in point: Blockchain Week Berlin, the flagship annual conference of the No. 10 spot in CoinDesk’s Crypto Hubs 2023, is a self-organized, crypto-agnostic community initiative. Source

Etherscan launches AI-powered Code Reader: 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 filled with artificial intelligence (AI)-centered developments on Etherscan, Polygon’s latest security update and on-chain sleuth ZachXBT’s ongoing lawsuit supported by multiple crypto personalities. Etherscan launched an AI-powered code reader to retrieve and interpret the source code of specific contracts, while the Polygon co-founder proposed a zero-knowledge Ethereum Virtual Machine (zkEVM) upgrade to improve the protocol’s security.…

Tron Founder Justin Sun Withdraws $30M of Staked ETH from Lido Finance, Sends Tokens to Huobi Exchange

Crypto markets, led by bitcoin (BTC), rallied through the week as investors cheered the news that a slew of traditional financial institutions took steps to get more involved with digital assets. BlackRock, the world’s largest asset manager, filed to register a much-coveted spot BTC exchange-traded fund (ETF) last Thursday. This week, banking giant Deutsche Bank applied for a crypto custody license in Germany, while new crypto exchange EDX Markets, backed by Fidelity Digital Assets, Charles Schwab and Citadel Securities, launched its trading platform. CryptoX Portal

Curve pool imbalance triggers USDT depeg concerns: 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. On June 15, an imbalance in Curve Finance’s 3pool led to a Tether (USDT) depeg scare as the stablecoin’s weightage in the pool rose above 70%, leading to heavy selling. Tether’s chief technology officer claimed these market conditions are stress tests for the stablecoin and played down the depeg “FUD.” In other news, a crypto trading bot programmed to execute arbitrage trades…

DeFi protocol Sturdy Finance offers $100K bounty to hacker if funds are returned

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Decentralized finance (DeFi) platform Sturdy Finance has offered a $100,000 bounty to the hacker that exploited the protocol. The lending platform said that its team won’t pursue the issue further if the attacker accepts the offer.  On June 12, the DeFi platform suffered a loss of almost $800,000 in digital assets when an attacker exploited vulnerabilities within the platform. Security firms pinpointed that the cause of the exploit was a faulty price oracle and the hack was carried out through a reentrancy attack. In response, the platform paused all markets…