A subset of the bitcoin and blockchain industry called “decentralized finance,” or “DeFi,” is devoted to offering a distributed version of traditional financial opportunities. In the modern world, financial institutions give their clients access to opportunities like loans and cash storage. These services are, however, controlled by centralized organizations.
DeFi systems, which utilize distributed ledger technology, or DLT, provide many of the same benefits, but they are managed by numerous players who comply with regulations imposed by smart contracts. DeFi solutions frequently allow customers more freedom regarding how they can store and manage their assets. In addition, DEXs, as opposed to trading on centralized digital asset platforms, further decentralize the trading of digital assets.
The action was taken a month after Vauld halted withdrawals in July. The Enforcement Department (ED) has frozen bank deposits worth Rs 64.67 crore belonging to WazirX. The ED is taking this most recent action as part of its continuing investigation into possible instances of money laundering involving at least ten cryptocurrency exchanges. In a … Read more
A ruling was made in favor of Voyager Digital earlier on Thursday by Judge Michael Wiles of the United States Bankruptcy Court in New York. This allowed Voyager Digital to receive access to the cash in its custodial wallets, which will allow it to return $270 million to the customers who were negatively impacted. As … Read more
An in-depth exploration of the decentralized money market enterprise, including an explanation of why it is important and how it operates. A dynamic economy is characterized by the fluid movement of capital between capital providers and recipients in both directions. Anyone with a spare asset can lend it to someone else to put their unused … Read more
The past two weeks have been a rough ride for crypto hackers. The repercussions from the most recent hack of Solana have once again brought to people’s attention the significance of using, for example, hardware wallets. We now know that around 15,000 cryptocurrency wallets were affected and that approximately $4.6 million was stolen. Bridges have … Read more
On Thursday, blockchain data startup Coherent announced that it had successfully raised $4.5 million in a seed round of funding. A former platform engineer at Coinbase owns coherent. The funding round was collaboratively led by three venture capital (VC) firms that are known for their expertise in investing in seed and early-stage funds. Matchstick Ventures, … Read more
A cybersecurity company has made warnings about a new phishing campaign that is aimed at users of the popular cryptocurrency wallet MetaMask. Luis Lubeck, a technical education specialist at Halborn, explained in a piece published on Thursday that the active phishing campaign targeted users of MetaMask by sending them emails to get them to reveal … Read more
Blockchain games, as well as the Metaverse, were able to “circumvent” the “Lehman brothers-like” collapse of Terra in May, according to a report; however, decentralized finance (DeFi) or nonfungible tokens (NFTs) were not as fortunate. According to a report published by decentralized application (DApp) data aggregator DappRadar, the breakdown of Terra in May was comparable … Read more
According to new research, despite the prolonged bear market, the cryptocurrency industry has already raised $30.3 billion in funding, which is more than what would be raised in a full year of fundraising in 2021. According to a report published on August 2 by the crypto analytics firm Messari and Dove Metrics, the data reveals … Read more
On Friday, Alex Smirnov, co-founder and project lead of DeBridge Finance, took to Twitter to disclose that his company was the target of an attempted hack by the notorious North Korean Lazarus Group. Smirnov said that the attack came from North Korea. For the purpose of transferring data and assets from one blockchain to another, … Read more
Coinbase, the world’s largest cryptocurrency exchange, and BlackRock, the world’s largest asset management, have formed a partnership to deliver new cryptocurrency entry points to institutional investors. BlackRock’s Aladdin will be connected to Coinbase Prime as a result of the strategic alliance in order to enable institutional investors with direct and hassle-free access to cryptocurrency, beginning … Read more