Blockchain Financial News

Peer-to-peer (P2P) lending, which links borrowers and investors directly, has become a well-liked substitute for traditional banking. P2P lending networks enable decentralized lending, in which people can borrow money from other people or institutions directly without the use of intermediaries, such as banks.

Multichain, a crypto project that connects different blockchains, said it's shutting down after learning that its founder was taken away by Chinese police. In a Twitter post on Friday, Multichain provided details around the sudden disappearance of its founder and chief executive, identified only by the name Zhaojun, in late May. Multichain is a so-called crypto bridge, which allows users to swap digital tokens across the various blockchains they run on. Speculation around Zhaojun's whereabouts has been swirling since his disappearance, fueled by Multichain's announcement on July 7 that it had seen an unexpected outflow of assets of more than $120 million. After that, Zhaojun's sister transferred remaining user assets to wallets she controlled before she was taken into custody as well, Multichain said on Friday.

A pair of researchers from the University of Texas at Austin and Princeton University conducted a study to determine how tokenization affects decentralization in decentralized autonomous organizations (DAOs). Their findings indicate that many of the challenges to autonomy are related to the reasons individual users have for participating. 

According to the July 13 report by Messari, Filecoin currently averages 954.2 pebibytes (1.07 billion gigabytes) worth of storage deals on its network, compared to 12.2 exbibytes (14.1 billion gigabytes) worth of raw storage capacity. Until recently, uptake had been sluggish due to high storage costs compared to centralized alternatives such as Amazon Web Services.

Lending protocol Geist Finance is shutting down permanently due to losses from the Multichain exploit, according to a July 14 social media post from the app’s development team. Geist contracts were paused on July 6, then resumed in “withdraw and repay only” mode on July 9. The latest post confirms the team does not plan to reopen lending and borrowing on Geist.

The BNB Beacon Chain, the Binance blockchain ecosystem, is expected to undergo a scheduled hard fork upgrade on 19th July at 6:00 UTC, with enhanced security features for users.

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OPNX, an exchange dedicated to the trading of bankruptcy claims against fallen crypto firms, has listed FTX and Celsius claims.

The crypto exchange Bitget has announced that its reserves have reached a massive $1.44 billion, and that it is officially debt-free.

Decentralized wireless network operator World Mobile has secured licensed spectrum in four US states. 

startup funding this week. Early-stage deals dominated, in volume terms, with a significant chunk of them in vertical technology categories or niche-focussed ventures. Startups managed to raise only $55 million across 16 funding rounds during the week of July 8 to 14, a decline of 89% over the same period last year, when they raised $516 million across 65 rounds, according to data provided by market research firm Tracxn.

Cross-chain protocol Multichain has announced that it is “forced to cease operations” due to a lack of operational funds. The announcement follows a report from blockchain analytics firm Chainalysis saying that withdrawals appear to be a “rug pull” by insiders. 

Web3 is poised to revolutionize digital interactions, but this innovation is moving faster than the conventional legal system can manage it. Unlike traditional infrastructures that rely on intermediaries, Web3 is powered by blockchain, and most rules are enforced by code. How should people build trust in decentralized, trustless systems without an on-chain legal system?

Blockchain technology has recently penetrated a number of sectors, altering the way we do business, store data and interact with digital assets. The decentralized and transparent nature of blockchain also benefits content creators, including authors, musicians, artists and photographers.

Golteum to bring back some excitement into the sector. Golteum (GLTM) is a multi-asset DeFi platform that can potentially transform the landscape. What's more? Its ongoing presale could be an easy entry point for some massive gains.  The Golteum network is one like market participants haven't seen before.

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On July 13, 2023, Ripple Labs, a cryptocurrency-based software company, secured victory in its legal battle against United States (US) Securities and Exchange Commission (SEC). Experts believe that this development can help create the long-awaited regulatory landscape around the cryptocurrency industry. 

Fetch.AI (FET), Bitcoin Cash (BCH), and TMS Network (TMSN) are three cryptocurrency assets that show great potential for thriving in the next bull market run. These three tokens have emerged as top picks as investors look for assets that can deliver significant returns. In this article, we will explore the strengths and opportunities of each asset and discuss why they are primed for success in the upcoming bullish market.

Two-factor authentication (2FA) is a tried and tested online security measure, and the technology is now being used as an additional transaction signing measure on MultiversX’s blockchain protocol.

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A newly released tool called “BIP39 Colors” is turning Bitcoin (BTC) and other crypto wallet seed phrases into colors — giving users a potentially new way to hold their funds in cold storage.