Blockchain Financial News

Decentralized Finance (DeFi) platform Zunami Protocol has confirmed a price manipulation attack on its “zStables” stablecoin pools on Curve Finance, causing potential losses of over $2.1 million.

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On August 7, 2023, PayPal (NASDAQ: PYPL) announced the launch of a U.S. dollar-denominated stablecoin, PayPal USD (PYUSD), aimed at transforming payments in web3 and digitally native environments. The announcement was made in San Jose, California, and marks a significant step in bridging the gap between fiat and digital currencies.

Russian experts say they think that the government will use the digital ruble to pay state benefits – and think the CBDC could be used to evade sanctions.

DeFi is the frontier of financial innovation. Like any disruptive and innovative technology that takes over the world, the gains will fall into the pockets of those fastest to adopt the new paradigm. DeFi’s value proposition is simple, remove intermediaries from the supply chain and deliver a more direct transfer of value between economic participants. And for this simple reason, its dominance is inevitable. The recent Curve (CRV) exploit served as a reminder of how early investors are in this space, but Web3 values prevailed. Shorts piled in at the news, but after plenty of OTC deals, Curve short-squeezed. It was a blunt reminder never to underestimate the ethos that thrives in decentralized finance, and this article explores one of the space’s new DeFi projects with the strongest and fastest-growing community. DigiToads (TOADS) has come onto the radar following astronomical success in its presale, and TOADS is a DeFi marvel that investors cannot ignore. 

Half of all proceeds from fraud and financial scams in Australia are being washed through cryptocurrency platforms, according to data from the Australian Financial Crimes Exchange.

Every year, in August, staff at DMG Partners, a modest accounting firm in Gippsland, Victoria, bake cupcakes and cookies for their colleagues.

Bankrupt cryptocurrency lender Voyager Digital transferred 1,500 Ether (ETH), worth around $2.77 million and an additional 250 billion Shiba Inu (SHIB), worth roughly $2.7 million, to crypto exchange Coinbase on Aug.11, according to Etherscan.

A group of six legal scholars specializing in securities law and related domains have submitted an amicus brief in favor of crypto exchange Coinbase in its legal battle against the U.S. Securities and Exchange Commission (SEC).

Legal proceedings have been initiated by the Commodity Futures Trading Commission (CFTC) against individuals and their organization, Fundsz, citing their involvement in a deceptive scheme concerning cryptocurrencies and precious metals trading.

Curve Finance, a decentralized finance (DeFi) platform for lending stablecoins, has officially stated its intention to reimburse users who were impacted by the recent breach resulting in a $62 million loss from the system. 

False reports about the death of internet-famous 14-year-old rapper Lil Tay have triggered the emergence of an unofficial crypto token named "LilTay" on the BNB Chain. 

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.

Central Bank Digital Currencies (CBDCs).Understanding CBDCs CBDCs are digital representations of a nation's fiat currency and are issued and regulated by the central bank. Unlike decentralized crypto assets like Bitcoin, CBDCs are under the direct control of the issuing authority. This allows them to maintain their role in monetary policy, currency stability, and financial regulation. Governments have various motivations for exploring CBDCs. One significant reason is the modernization of payment systems. Traditional cash transactions are giving way to digital alternatives, and CBDCs offer a secure and efficient means for central banks to oversee these transactions, thereby reducing reliance on physical cash.

With the help of police and cyber authorities, a victim of a hack worth 90 Ether (ETH) has gotten the attacker’s Tether (USDT) address blacklisted. As a result, they may be able to get most of their funds back.

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Base, a new Ethereum layer 2 blockchain that has been developed by crypto exchange Coinbase, saw inflows worth just over $10 million on its first day after launch.

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Crypto exchange Binance’s investment arm, Binance Labs, has announced a $5 million investment in Curve DAO Token (CRV) in a display of support for Curve and decentralized finance (DeFi) at large. 

Spanish soccer club FC Barcelona has secured a 120 million euro ($132 million) investment from Libero Football Finance AG and Nipa Capital B.V. for its Web3 initiative, Barça Vision.