Defi Financial News

It appears that embattled crypto lender Celsius is wasting no time in shifting its Ethereum staking tokens from liquid staking platform Lido which has just enabled withdrawals.

The Lido liquid staking protocol has enabled Ether withdrawals for the first time, according to May 15 data from Parsec Finance. Over 260 Lido Staked Ether (stETH) was redeemed for its underlying Ether (ETH) in the first three hours, worth about $500,000.

The United States Justice Department’s crypto enforcement team is cracking down on Decentralized Finance (DeFi) hackers and exploiters, amid a four-year rise in illicit crypto activity.

MakerDAO, the organization behind the DAI stablecoin and its related MKR governance token, recently announced a slew of planned updates to its ecosystem, including a heavy focus on artificial intelligence (AI) technologies and the planned development of a new blockchain. 

Web3 has become one of the hottest buzzwords in the music industry, with everyone from independent musicians to major label artists dropping nonfungible token (NFT) collections and throwing concerts in the metaverse. But for many, the actual use cases and potential of these technologies remain shrouded in mystery and confusion.

Death threats, viral rap videos and a stream of frog-themed insults. That’s the state of my social media profiles after hosting a Twitter Space on May 8 about PEPE, the new token based on the “Pepe” meme.

A United States judge has granted permission to bankrupt crypto lender BlockFi to return $297 million to customers with deposits held in its Wallet program, Reuters reported on May 11. 

A team of researchers at the Singapore University of Social Sciences recently conducted an appraisal of existing decentralized autonomous organization (DAO) voting schemes to determine which was most efficient. 

Investing in cryptocurrencies is widely known to be associated with risk, given the crypto market’s volatility, regulatory dilemmas and high-profile incidents of hacks, scams and fraudulent activities. According to Chainalysis’ midyear report on cryptocurrency-related crimes in 2022, approximately $1.9 billion worth of cryptocurrency was stolen in various hacking incidents and fraudulent activities compared to under $1.2 billion at the same point in 2021. 

A new era has begun for the Bitcoin blockchain.

An Ethereum bot run by pseudonymous crypto user Jaredfromsubway.eth has made $40 million in just three months by using a technique known as "sandwiching" on decentralized exchanges (DEXs).

The market cap of new memecoin Pepe (PEPE) has fallen $1.1 billion from its May 6 peak, though on-chain data shows it's still being bought by some crypto whales. 

BDO Italia's latest attestation report for Tether revealed that Bitcoin (BTC) made up approximately $1.5 billion of the stablecoin issuer's reserves, or roughly 2% of the total, at the end of the first quarter. The accounting firm did not list Bitcoin as a line item in previous reports.

Moderators on Reddit began to take action on crypto-related Pepe the Frog hype flooding into the meme’s original subreddits after the explosion of the $PEPE memecoin.

Aragon, an open-source framework designed to launch decentralized autonomous organizations (DAOs), has pulled plans for its native Aragon (ANT) token holders to be given voting rights over the future direction of the organization.

Cardano (ADA), the cryptocurrency that powers the smart-contract-enabled Cardano blockchain, continues to suffer amid elevated crypto market selling pressure on Tuesday.

On May 9, the total market capitalization of BRC-20 Bitcoin tokens surpassed $1 billion, with a total trading volume of $207.7 million in the past 24 hours. Some of the most notable deployed tokens include ordi, nals, VMPX, pepe, and meme, with price variance of between +11% and -55% within the past day.

To send and receive payments on the Lightning Network, users must first set up a Lightning wallet and fund it with Bitcoin. From there, they can create payment channels and start transacting. This article will guide users through the process, from setting up their Lightning wallet to making their first Lightning payment.

It’s 2023, and decentralized finance (DeFi) has emerged as a major trend in the blockchain and cryptocurrency space, with the emergence of protocols and the promise of building a financial system “free” from the control of central authorities. However, despite its potential benefits, DeFi has faced its fair share of criticism for its lack of true decentralization.

MiCA, the Markets in Crypto-Assets Regulation, is a significant step towards establishing a comprehensive regulatory framework for crypto-assets in the European Union (EU). This regulatory framework is seen as a politically acceptable and workable compromise that builds on existing regulatory frameworks while offering certainty to entrepreneurs and preventing knee-jerk reactions from policymakers. One of the key aspects of MiCA is the introduction of a tailored license for crypto-asset services and stablecoin issuers that can be passported across all 27 EU member states, covering a market of 450 million people. This is expected to streamline regulatory processes and foster cross-border activities in the crypto industry. MiCA distinguishes between different types of cryptoassets and provides regulatory requirements specific to each category. This approach recognizes the diversity of cryptoassets and their different use cases, and tailors regulatory requirements accordingly. By taking a nuanced approach to different types of cryptoassets, MiCA aims to provide effective regulation that is appropriate for each category. MiCA includes rules for stablecoin issuers that aim to ensure consumer confidence by requiring proper reserves and the redeemability of tokens. This is expected to enhance the reputation and acceptance of stablecoins as a form of digital currency.

Just hours after the initial DEX offering (IDO) for Cetus began on May 8, its hard cap target of 800,000 Sui (SUI) tokens has already been surpassed, with over 6 million SUI committed worth approximately $6.85 million at the time of publication. Developers claimed that the IDO reached its initial goal in less than 30 seconds after the sale went live.