Sid Powell News

08.09 / 04:33

business Adoption defi Futures Derivatives Synthetix DEX launch to join efforts reducing the 'serious friction' in DeFi

Decentralized derivatives protocol Synthetix is the latest project aiming to close the usability gap between centralized and decentralized exchanges — with a Q4 slated launch of the Synthetix V3 protocol and its decentralized exchange front-end, called Infinex.

10.11 / 01:31

business defi lending Orthogonal Credit alleged key weaknesses in Alameda’s due diligence early in 2022

Orthogonal Credit, an arm of the digital asset hedge fund Orthogonal Trading, disclosed on Nov. 9 that it pushed to close Alameda Research’s dedicated borrower pool on Maple Finance in the second quarter of 2022 after identifying “key weaknesses” in its due diligence.

29.09 / 04:05

business defi Liquidity Loans Maple Finance CEO: Separating risk from lending saved DeFi from market crash

Maple Finance co-founder and CEO Sid Powell says that transparency has been the saving grace of decentralized finance (DeFi) amid the prolonged crypto market slump.

12.04 / 13:45

cryptocurrency economy Money Bitcoin Reserve Cryptoverse: Is Bitcoin about to become a reserve currency?

A crypto platform's pledge to amass $10 billion (€9.2 billion) worth of Bitcoin to back its own "stablecoin" is firing up the market. It's part of a wider movement to crown Bitcoin as the reserve currency of a new age.

12.04 / 13:33

cryptocurrency Tesla Terraform Bitcoin Reserve Cryptoverse: 10 billion reasons bitcoin could become a reserve currency

bitcoin to back its own «stablecoin» is firing up the market. It's part of a wider movement to crown bitcoin as the reserve currency of a new age. Seoul-based Terraform Labs has so far built up nearly 40,000 bitcoin worth $1.7 billion in a series of purchases via a non-profit affiliate, Luna Foundation Guard, according to publicly available blockchain data. The spree follows Terraform co-founder Do Kwon's announcement on Twitter last month that the project would buy the $10 billion worth of bitcoin reserves to underpin TerraUSD, breaking ranks with other large stablecoins — a ballooning class of cryptocurrencies that aim to minimise wild price swings and are typically backed by U.S. dollar reserves.

12.04 / 12:07

UPS cryptocurrency Bitcoin Reserve Can Bitcoin Become A Reserve Currency? Top Reasons

Seoul-based Terraform Labs has so far built up nearly 40,000 bitcoin worth $1.7 billion.

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