Defi Financial News

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crypto currencies are yet to pass the test to become fiat currency and the lack of regulation it is akin to a world of Caribbean pirates underlining necessary caution in regard to some of these fintech based disruption. «The more decentralised they become and the absence of a watchdog or a centralised regulatory authority also means that there is a world of Caribbean pirates or a world of 'winner takes it all' in terms of being able to really take it all from somebody else. Also, the recent developments with respect to Luna, Terra are definitely very important cautionary tales that we need to keep in mind,» he said. «I would be somewhat guarded in my welcome of some of these fintech-based disruptions like DeFI or decentralised finance and crypto etc,» Nageswaran said at an Assocham event.

Blockchain oracle platform Chainlink (LINK) launched two of its services, Chainlink Keepers and Chainlink Verifiable Random Function (VRF) and integrated them into the Avalanche Primary Network, a special subnet within the Avalanche platform.

Terraform Labs, the parent company behind the collapsed Terra ecosystem, is currently under multiple investigations from the South Korean authorities.

Osmosis, a decentralized exchange built on the Cosmos network was halted just before 3am ET on June 8 after attackers exploited a liquidity provider (LP) bug to the tune of roughly $5 million.

The honeymoon period for the Optimism layer-2 scaling solution has been cut short as an exploit in its market maker’s smart contract led to the loss of 20 million OP tokens.

Blockchain games is the category within crypto that has resisted the industry downturn the most, with activity still being up 197% year-over-year, DappRadar’s Industry Report for May shows.

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Osmosis, a proof-of-stake (PoS) blockchain with a decentralized exchange (DEX) application within the Cosmos (ATOM) ecosystem, has been exploited to the tune of some USD 5m.

Solana Ventures and the Solana Foundation have formed a $100 million fund to help support the growth of nonfungible token (NFT), blockchain gaming and decentralized finance (DeFi) projects in South Korea.

Metaverse tokens are vastly outperforming every other crypto category in the current bearish condition, up by nearly 400% year-on-year.

Open-world blockchain game Illuvium managed to keep the average transaction fee for its nonfungible token (NFT) Land at about $20 by holding the Dutch auction on the Illuvium X Layer-2 scaling solution.

Passive income opportunities are one of the biggest draws in the cryptocurrency ecosystem because it gives investors an easy opportunity to grow their portfolio size regardless of the day-to-day price action.

On Tuesday, Ethereum (ETH) bridging and scaling solution Aurora announced it had paid out a $6 million bounty to ethical security hacker pwning.eth, who discovered a critical vulnerability in the Aurora Engine. The exploit allegedly placed over $200 million worth of capital at risk. The sum was paid in collaboration with Immunefi, a leading platform for Web 3.0 bug bounties, with $145+ million bounties available and $45+ million bounties paid out.

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While Kazakhstan’s government is catching up with the tremendous volume of crypto mining in the country by introducing new taxes and regulations, the local central bank intends to explore the possibilities that crypto offers. 

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Disclaimer: The text below is an advertorial article that was not written by Cryptonews.com journalists.

A leaked copy of a United States draft bill concerning cryptocurrency started doing the rounds on Twitter earlier on Tuesday. The 600-page copy of the leaked bill highlights some of the key areas of concern for regulators including decentralized finance (DeFi), stablecoins, decentralized autonomous organizations (DAOs) and crypto exchanges.

Minutes before 12 a.m. UTC on June 6, the CEO and co-founder of the Elrond Network, Beniamin Mincu, tweeted that he and his team were “investigating a set of suspicious activities” on the Maiar decentralized crypto exchange (DEX).

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