DeFi – Decentralized Finance

Cryptocurrency-related insurance is a vast untapped market, with less than 1% of crypto investments covered amid hacks and losses in the industry running into the billions of dollars, Cointelegraph reported, citing an executive from decentralized insurance protocol InsurAce. See related article: DeFi insurance: Why buy coverage for your digital assets? Fast facts Dan Thomson, the […]

The collapse of Celsius and Anchor wasn’t a failure of DeFi, writes Kaaran Kalantari of WingRiders. They failed to assess risk, and crypto Darwinism took shape.

BABL, the native cryptocurrency of Babylon Finance, has lost 92% of its value after the decentralized finance (DeFi) asset management protocol’s founder Ramon Recuero on Wednesday announced plans to shut down its services. See related article: Chainalysis says $2 bln stolen in cross-chain bridge hacks this year, more expected Fast facts The token was trading […]

We take a look at how the Ethereum PoW fork has gained crypto exchange backings in this episode of The Daily Forkast.

Despite the Indian government’s hostility towards cryptocurrencies, the CoinDCX exchange says more traditional financial products will shift to DeFi platforms.

Non-fungible token (NFT) platform SudoRare has allegedly run off with US$815,000 in user funds and deleted its social media accounts, raising alarms over investor protection.  See related article: Klaytn chief says reducing ‘human elements’ can prevent hacks Fast facts According to PeckShield Inc., a blockchain security and data analytics company, SudoRare took off with 519 […]

Real estate as an investment is not very liquid, composable or accessible, writes Joel Lin of CitaDAO. Can tokenization and DeFi transform this market?

The decentralized finance sector is now a fraction of its former self. What will help companies survive this bear market and emerge stronger?

Pantera Capital-backed Injective Labs has raised US$40 million to be used to create blockchain optimized for financial applications, it said in a statement.  See related article: Singapore DeFi derivatives exchange SynFutures closes US$14M fund raise Fast facts The funding round was led by Jump Crypto and BH Digital, the crypto arm of hedge fund manager […]

After high-profile cyberattacks on decentralized apps, the blockchain industry is in a hurry to ramp up security. Sam Sangmin Seo, head of Klaytn, tells Forkast that minimizing human error may be the key.

As wages stagnate and prices spiral, crypto offers investment and growth opportunities unmatched by the traditional financial system, writes Tarik Moon, CEO of Alpine.

Layer 1 blockchain Waves, which has been mired in a liquidity crisis, will go ahead with a revival plan recently approved by the community behind its decentralized finance (DeFi) lending protocol Vires.Finance, to allow certain account holders to withdraw funds or keep their positions for later repayment. See related article: Waves’ Neutrino USD loses peg […]

The new product will help over 20 million KuCoin users to access blue chip non-fungible tokens (NFTs) through direct purchases with USDT, instead of ETH, the cryptocurrency exchange said.  See related article: KuCoin dismisses rumors, eyes India for growth: report Fast facts KuCoin is partnering with Fracton Protocol and will initially list five NFT exchange-traded […]

Despite the bleak macro outlook, more institutions are looking to gain exposure to the DeFi sector, writes Robert Alcorn of Clearpool. Here’s why.

The crypto world is consumed by a spiritual battle between its believers and haters, and it is in need of a rebirth and new identity, writes Prof. Yanto Chandra of Hong Kong Polytechnic University.

Silvergate issues warnings about the crypto winter. Meanwhile, Zipmex considers a buyout by FTX and Alameda Research.

The total value locked (TVL) in decentralized finance (DeFi) plunged 66.9% in the second quarter of this year amid market turmoil, according to data from DefiLlama. See related article: Sinking TRON takes DeFi TVL to US$63B, lowest since April 2021 Fast facts The DeFi space recorded US$220 billion in TVL at the beginning of the […]

Top blockchain and crypto news: Celsius plunges into Chapter 11. Otherside’s promised land. Mixed picture for Chinese NFTs.

The decentralized finance (DeFi) lending protocol will use Pocket’s distributed network to increase access for decentralized app (dApp) developers across 50 blockchain networks.  See related article: DeFi lending platform Aave to ‘build Twitter on Ethereum’ Fast facts Pocket, which on Tuesday tweeted a Cointelegraph report on the partnership, offers Aave a distributed network of over […]

As a world leader, the US now offers a regulatory template for crypto that others are sure to follow, writes Michael Shing of XREX. Here are the key provisions.

Digital assets are powering new industries, and DeFi will be the financial system of the future internet economy, writes Alex Tapscott in his new book, ‘Digital Asset Revolution.’

Celsius Network has paid back US$142.8 million of its debt to Maker since July 1, data from DeFi Explore shows, as the embattled cryptocurrency lender looks to avoid a complete collapse.  See related article: Goldman Sachs said to raise US$2B for Celsius assets: report Fast facts With the repayment, Celsius’ liquidation price for its Wrapped […]

Investment firm VanEck has filed an application for a spot Bitcoin exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC), despite Grayscale’s application getting rejected on Tuesday.  See related article: Next step for spot Bitcoin ETF in the US may be a courtroom battle Fast facts VanEck had filed for a spot Bitcoin […]

Grayscale Investments filed a lawsuit against the U.S. Securities and Exchange Commission (SEC) within an hour of the markets regulator rejecting an application that would have allowed its spot Bitcoin exchange-traded fund (ETF) to trade on the New York Stock Exchange (NYSE). See related article: Bitcoin ETF rejection could trigger Greyscale to sue the SEC […]

Harmony’s Horizon cross-chain bridge is now the third of its kind to suffer a major hack this year. What are the alternatives that may be more secure?

Deeper structural flaws in crypto make it unsuitable as the basis of a monetary system that serves society, the Bank for International Settlements said in its annual report.

As traditional finance sector firms continue to seek upside crypto exposure, bringing DeFi yields to TradFi has a bright future, says B2C2’s Phillip Gillespie.

In a decentralized society envisaged under crypto, everybody is reportedly equal. But as the market strains under considerable stress, it’s showing some are more equal than others.

Top blockchain and crypto news: Investors snowed in as liquidity crunch hits. Solend harpoons anti-whale maneuver. Chinese NFTs prove a tricky target.

Hong Kong-based Babel Finance announced on Monday it has reached “preliminary agreements” on debt repayments to counterparties following a redemption and withdrawal freeze instituted last Friday. See related article: Contagion risk from Three Arrows Capital weighs on Bitcoin, crypto Fast facts A preliminary restructuring of the debt repayment period has “eased” the company’s short-term liquidity […]

ProShares will launch a short Bitcoin-backed exchange-traded fund (ETF) on the New York Stock Exchange (NYSE), the U.S.-based ETF issuer announced on Monday. See related article: Bitcoin price hits all-time high after ProShares ETF debut Fast facts ProShares Short Bitcoin Strategy ETF is scheduled to begin trading on the NYSE on Tuesday under the ticker […]

The crypto hedge fund got called out on social media Thursday for allegedly misappropriating US$1 million to cover risks of insolvency.

Top blockchain and crypto news: Cryptos sink as inflation rises. Celsius freeze sends CEL token tumbling. Are Inner Mongolia’s miners catching a break?

MicroStrategy CEO Michael Saylor says the company will not have a margin call on their US$205 million Bitcoin-backed loan after their crypto holdings dropped by over US$1 billion over the past week, according to data from CoinGecko.  See related article: MicroStrategy, crypto firm shares plunge with Bitcoin’s freefall Fast facts When MicroStrategy adopted a Bitcoin […]

The total value locked (TVL) in decentralized finance (DeFi) fell to US$63.12 billion as prices across the broad crypto market fell. The declines were highlighted by the TRON algorithmic stablecoin USDD losing parity with the U.S. dollar on Monday, along with a 17% drop in the TRON native token TRX over the past 24 hours.  […]

As the internet fractures into silos degraded by censorship and disinformation, DAOs and public blockchains may offer ways to restore trust.

An open and interoperable metaverse economy will drive consumer activity — and it’s on a similar track for growth as e-commerce, writes Ben Caselin of AAX.

JPMorgan Chase & Co. blockchain business unit Onyx aims to bring trillions of dollars in tokenized assets to decentralized finance (DeFi), Onyx head of digital assets Tyrone Lobban said at CoinDesk’s Consensus 2022 conference.  See related article: JPMorgan sees upside for Bitcoin, crypto amid market downturn Fast facts “Over time, we think tokenizing U.S. Treasurys […]

It’s been a ‘Waiting for Godot’ experience for the crypto industry regarding US approval of a spot Bitcoin ETF. A decision next month by the SEC could bring a lift to crypto markets or be a boon to lawyers.

India’s chief economic adviser V. Anantha Nageswaran compared cryptocurrencies to the “world of Caribbean pirates” in the absence of regulation where “winners take it all” from somebody else, local media reported.  Fast facts See related article: Coinbase blames India’s central bank for exit Cryptocurrencies fail to satisfy basic requirements such as having store value, widespread […]

Layer 1 blockchain Fantom has unveiled upgrades to boost settlement speed and platform efficiency, the Fantom Foundation announced on Thursday.  See related article: Fantom overtakes Binance Smart Chain in DeFi TVL Fast facts Fantom’s upgrades include the implementation of all London EIP-1559 changes and a new variation of the consensus mechanism called Lachesis Light Repeater, […]

Following Australia’s recent approvals of crypto-based exchange-traded funds (ETFs), Canada’s 3iQ Digital Asset Management launched two crypto feeder ETFs on the Cboe Australia Exchange on Tuesday. See related article: Canada’s 3iQ could be first to launch Australian crypto ETF Fast facts The two feeder funds, one in Bitcoin and another in Ether, track the asset’s […]

The Fed’s new No. 2 is ahead of the curve in her thinking — which bodes well for crypto’s future around the world, writes a former colleague of Brainard.

BNB Chain’s roadmap for the year will prioritize faster transactions and enhanced support for decentralized applications (dApps), the world’s largest cryptocurrency exchange by volume said. See related article: Binance rebrands blockchains for metaverse, DeFi expansions Fast facts In its 2022 technical roadmap released Tuesday, BNB Chain said it is working to offer end users more […]

The Monetary Authority of Singapore (MAS) has announced Project Guardian, a collaborative initiative with the financial industry to explore the economic potential and value-adding use cases of asset tokenization, according to a statement from Deputy Prime Minister Heng Swee Keat on Tuesday. See related article: Singapore wants to bring some adult supervision to crypto Fast […]

South Korea’s smart contract auditing firm Sooho.io is partnering with Lambda256, the blockchain subsidiary of Upbit operator Dunamu, to develop a bridge layer connecting the country’s fragmented decentralized finance (DeFi) and Web 3.0 ecosystem. See related article: Two crypto exchanges reach unicorn status in South Korea Fast facts The new bridge will work as a […]

Whether the fixing of a pricing error by Mirror Protocol, the decentralized finance (DeFi) application built on Terra Classic, will help prevent a drainage of the pool similar to last year will only be known by the end of U.S. trading hours on Tuesday. See related article: Winning back the trust of the Terra community […]

Financial literacy is a life skill that is often neither taught at school nor home, writes Grace ‘Ori’ Kwan of Orca. How can we close this knowledge gap?

Fueled by seismic shifts in societal values, decentralized autonomous organizations are now poised to go mainstream, writes Hannes Graah of Gro.

Veteran investor Cathie Wood’s ARK Investment Management and Swiss investment product issuer 21Shares are trying their luck again at getting a spot Bitcoin exchange-traded fund (ETF) approved. See related article: SEC comes around on Bitcoin ETFs Fast facts Cboe BZX Exchange, Inc. is seeking the Securities and Exchange Commission’s (SEC) approval to a proposed rule […]

Terra’s LUNA and UST implosion is dragging down an already ailing market. What do other developments suggest about crypto’s long-term future?

Solana’s $325M Wormhole breach and Axie Infinity’s $600M Ronin hack laid bare the security risks of cross-chain bridges. What are the solutions?

Blockchain was once associated overwhelmingly with cryptocurrencies — and specifically its poster children, Bitcoin and Ethereum. The latter, in particular, has thrust the industry forwards into the realm of smart contracts integration.  Ethereum started to bear fruit arguably most prominently last year amid a boom in non-fungible tokens (NFTs), while decentralized finance (DeFi) offered a […]

Forkast sat down with Singapore’s biggest bank for insights into crypto regulations in the city-state. Singapore has a reputation for planning far ahead, so what’s in store for cryptocurrencies?

After the launch of three cryptocurrency exchange-traded funds on Thursday, Forkast spoke with company officials behind two of the funds, along with others in the industry, to see what the new investment platforms offer to investors.

Terra’s sacrifice of LUNA pushes the UST up to US$0.84. Meanwhile, South Korea plans the institutionalization of crypto.

Australia’s first three cryptocurrency exchange-traded funds (ETF) launched on the Cboe exchange on Thursday, bringing Bitcoin and Ethereum products to the stock market. See related article: Launch of three crypto ETFs in Australia delayed Fast facts One of the funds, the Cosmos Purpose Bitcoin Access ETF (CBTC) from Cosmos Asset Management, tracks the Purpose Bitcoin […]

Australia’s first cryptocurrency exchange-traded funds (ETFs) are set to go live on Thursday May 12 on the country’s Cboe exchange after delays kept the financial products off the market for two weeks. See related article: Launch of three crypto ETFs in Australia delayed Fast facts Three funds were initially announced for listing in late April […]

Gen Z is already keen on metaverse real estate. Will using DeFi to finance property deals — in the real or virtual world — be the next frontier?

The total value locked (TVL) in decentralized finance (DeFi) protocols has dropped from US$217.82 billion to US$179.5 billion in the past 30 days, reaching its lowest point since October 2021, according to DefiLlama data. See related article: DeFi wizard Cronje’s departure sends TVL sinking Fast facts Terra’s Anchor Protocol played a significant role by dropping […]

As decentralized finance redefines the way money moves, a do-or-die moment is approaching for traditional finance sector businesses, says Anthony Scaramucci.

Non-fungible token financing is still at a nascent stage and comes with significant risks for lenders and borrowers.

Blockchain can save time, money and reams of paperwork, writes Tim Bailey of Red Date Technology. But its future in global trade remains uncertain.

Decentralized finance (DeFi) lending protocol Clearpool announced Tuesday the launch of a permissioned liquidity pool in partnership with quantitative trading firm Jane Street and crypto and blockchain investment firm BlockTower Capital. See related article: Nexo and Fidelity Digital Assets expand institutional lending services Fast facts The liquidity pool has been funded with US$25 million worth […]

The Indian government is exploring ways to levy additional taxes on interest earned on cryptocurrencies through decentralized finance (DeFi) platforms located outside India, according to an Economic Times report. See related article: India tax breaks crypto’s back Fast facts The government wants to impose a 20% tax deducted at source (TDS) or factory-gate levy for […]

Last-minute delays to three Australian cryptocurrency exchange-traded funds (ETFs) could allow Toronto-based 3iQ Digital Asset Management to launch the first of such products in the country, the Australian Financial Review reported. See related article: Launch of three crypto ETFs in Australia delayed Fast facts The Canadian firm lodged disclosure documents with the Australian Securities and […]

Another crypto exchanges moves out of Singapore into Dubai. Meanwhile, two South Koreans have been charged for treason.

South Korean asset manager Samsung Asset Management is reportedly set to list a blockchain exchange-traded fund (ETF) on the Hong Kong stock exchange (HKEX), local media reported on Thursday. See related article: South Korea’s largest financial group mulls crypto ETFs Fast facts The ETF set to list in Hong Kong will have the identical structure […]

Dogecoin skyrockets as Elon Musk’s Twitter deal finalizes. Meanwhile, a Korean music platform registers NFTs patent.

After being on track to beat the US to the launch of a Bitcoin spot ETF, the delay is likely to undermine Australia’s desire to emerge as a top destination for digital assets in the developed world.

The cryptocurrency investment firm has stepped up its lobbying efforts with the U.S. regulator following its recent nod to a Bitcoin futures ETF. See related story: SEC comes around on Bitcoin ETFs Fast facts Grayscale’s lawyers have written to the Securities and Exchange Commission saying that its application for a Bitcoin spot exchange-traded fund (ETF) […]

While the cryptocurrency industry continues to wait with bated breath for a spot-traded Bitcoin exchange-traded fund (ETF) to be approved in the U.S., three separate crypto funds were given the green light in Australia this week.  Australia’s ETFS Management (AUS) Ltd., or ETF Securities, launched a Bitcoin and an Ethereum fund, in partnership with Switzerland-based […]