Tag: finance

Ceffu (Formerly Binance Custody) to be Custodian of Flynt Finance for Enhanced Asset Security and Off-Exchange Settlement – Press release Bitcoin News

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press release PRESS RELEASE. Flynt Finance, a cryptocurrency portfolio management platform, has announced a partnership with Ceffu, formerly known as Binance Custody, to provide its clients with enhanced asset storage security and access to its off-exchange settlement solution, Mirror. Ceffu is an institutional custodian that offers secure custody and liquidity solutions. With this partnership, Flynt Finance’s clients will benefit from Ceffu’s secure cold storage solutions, which are designed to protect against theft, loss, and other risks associated with the storage of digital assets. Flynt Finance’s automated strategies, including its covered…

Lido Finance activates staking rate limit after more than 150,000 ETH staked

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Liquid staking protocol Lido Finance has pushed the big red button in order to activate a protocol safety feature called “Staking Rate Limit” after more than 150,000 Ether was staked with the protocol in a single day. Lido is a liquid staking solution for digital assets, in this case allowing users to stake Ether (ETH) without them needing to have their tokens locked. When a user deposits Ether, Lido issues them a liquid variant of ETH, known as staked ETH (stETH), giving users staking rewards for each day the tokens…

Germany’s DZ Bank to Offer Crypto Custody With Swiss Firm Metaco – Finance Bitcoin News

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The second-largest bank in Germany, DZ Bank, is preparing to become a provider of custody services for crypto assets. The offering will be facilitated by a partnership with Metaco, a Swiss company that specializes in helping financial institutions to operate in the digital asset space. DZ Bank to Use Metaco’s Harmonize Platform to Launch Crypto Custody Services DZ Bank, part of Volksbanken Raiffeisenbanken which is one of the largest banking groups in Germany, is going to employ a platform built by Metaco to offer institutional clients services in the field…

Yield platform Stablegains sued for promoting UST: 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 significant developments over the last week. The backlash from the Terra implosion still haunts the crypto world, with the now-shuttered stablecoin yield platform Stablegains being sued for customer losses. The plaintiffs allege that the platform funnelled customer funds into Anchor Protocol without users’ knowledge or consent. Platypus, the DeFi protocol that was exploited for over $8 million, is working on a compensation plan to recover some of the funds. Florida’s…

Frax Finance to retire algorithmic backing amid stablecoin crackdown

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The community of decentralized finance stablecoin protocol Frax Finance has voted to fully collateralize its native stablecoin Frax (FRAX), marking an end to the algorithmic backing of the protocol. The FIP-188 governance proposal initially posted on Feb. 15 reached a quorum following a 98% vote in favor, according to a snapshot on Feb. 23 — which would change the collateralization model of FRAX. “The time has come for Frax to gradually remove the algorithmic backing of the protocol,” last week’s proposal read. Near unanimous vote to move $frax to 100% CR…

Indian Finance Minister Pushes for International Cooperation on Crypto Regulation — Discusses Awareness Campaign – Regulation Bitcoin News

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Indian Finance Minister Nirmala Sitharaman has stressed the importance of international cooperation in order to regulate the crypto sector. She also confirmed that Indian regulators’ crypto awareness campaign will continue to alert people about the risks of investing in crypto. Indian Finance Minister on Crypto Regulation, Bill, and Awareness Campaign India’s finance minister, Nirmala Sitharaman, answered some questions about crypto during a press conference on Monday. She said: In India, crypto is on the agenda of G20. This is because we think technology-driven crypto asset creation and buying and selling…

Hope Finance exploit results in $2M stolen from users’ funds

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Prospective users of an Arbitrum-based decentralized finance (DeFi) project have been left out of pocket following a $2 million exploit. Web3 security firm CertiK flagged the incident on Feb. 21, following an announcement from the Hope Finance Twitter account notifying users of the scam. #CommunityAlert @hope_fin have announced the community has been scammed for ~$2m making this the largest #exitscam on Arbitrum in 2023. $1.86m was transferred to @TornadoCash. Hope_fin have posted steps for user’s to withdraw their staked LPhttps://t.co/hJbFXiKujt — CertiK Alert (@CertiKAlert) February 21, 2023 Details of the…

Composable Finance CEO denies legal violations as CTO steps down

The CEO of Composable Finance has vigorously refuted allegations of legal improprieties at his decentralized finance (DeFi) infrastructure platform, which was being aired by the firm’s former CTO Karel Kubat.  In a Feb. 20 Twitter post, Composable Finance’s now-former CTO Karel Kubat announced he had stepped down from the firm. He also leveled a number of accusations aimed at his former company and its CEO.  In Kubat’s post, the CTO said that he is resigning because the firm has not provided financial statements to him or the community and because he…