Defi Financial News

03.02 / 08:59

Ethereum Hack defi Altcoins The 4th Largest Crypto Theft Shows DeFi Weakness as Hacker Nets USD 325M in a Wormhole

The DeFi bridge between Solana (SOL) and other blockchains Wormhole lost wETH 120,000 (USD 325m) in a hack, once again stressing the weaknesses of this nascent sector. The team offered the hacker a USD 10m bounty if they return the funds.

03.02 / 05:05

defi regulation lending UK government Agency Tax Agency UK tax agency cracks down on rules around DeFi lending and staking

Her Majesty’s Revenue and Customs (HMRC), the U.K.’s tax agency, on Wednesday, has released a controversial set of guidance that could affect innovation in Decentralized Finance (DeFi).

03.02 / 04:35

Blockchain Ethereum defi Hackers Wormhole token bridge loses $321M in largest hack so far in 2022

The Wormhole token bridge experienced a security exploit today, resulting in the loss of 120,000 wETH tokens ($321 million) from the platform.

03.02 / 00:35

Blockchain defi Scams Fraud Rug Pull youtuber Youtuber and alleged thief publicly refuses to return investors' funds after $750k rug pull

On Wednesday, American Youtuber and "internet detective" Coffeezillaa published a recorded interview of himself and disgraced Youtuber Paul "Ice Poseidon" Denino. During the session, Denino allegedly confirmed that he made off with $750k worth of his investors' money through rug pulling a crypto project dubbed "Cxcoin."

02.02 / 18:08

Blockchain Ethereum defi Polygon Ethereum-based AR metaverse ecosystem adopts Polygon to address scaling

Ethereum (ETH) started the nonfungible token (NFT) craze, but it turns out minting and trading NFTs while adopting the concept for larger projects or integrating it into metaverse and other ecosystems might not be feasible given the high gas fees, especially when there are several viable alternatives.

02.02 / 02:27

markets Adoption defi Polygon 3 reasons why QuickSwap (QUICK) price spiked by 50%

Decentralized finance (DeFi) and the control it gives users over their assets is one of the most applicable sectors of the cryptocurrency ecosystem, but the general public is still hesitant to interact with most DeFi products due to the steep learning curve and the possibility of losing funds.

01.02 / 22:57

Ethereum defi wallet ConsenSys acquires ConsenSys acquires MyCrypto to 'improve the security' of its products

ConsenSys announced Tuesday that it had acquired MyCrypto, the Ethereum wallet interface provider, adding it to the software company's product suite. Its intent is to merge MyCrypto with the ConsenSys-owned MetaMask wallet, to "improve the security of all the products and create a cohesive user experience across desktop, mobile, extension and browser wallets."

01.02 / 20:09

markets Ethereum defi Bitcoin play Which play-to-earn games are better than Axie Infinity? | Find out now on The Market Report

“The Market Report” with Cointelegraph is live right now!

01.02 / 15:07

Ethereum defi Bitcoin How a game engine for DeFi could facilitate accelerated development

The beating heart of any ecosystem of decentralized applications, DApps, is its underlying technology stack. For Ethereum (ETH), this is its “Nakamoto” consensus, Ethereum Virtual Machine (EVM) execution environment, and Solidity programming language. Together, these technologies have allowed smart contract developers to propel decentralized finance (DeFi) from concept to reality.

01.02 / 13:10

cryptocurrency NFT defi Budget 2022 What are ‘virtual digital assets’ that will be taxed at 30% now?

virtual digital assets at a flat rate of 30 per cent, with no deduction and no provision to set off against any other income. Gift of virtual digital assets is also proposed to be taxed in the hands of the recipient. The government has also proposed a 1 per cent tax deducted at source (TDS) in order to track the transactions. Many see this as a masterstroke that will help the government track every transaction as market players will be liable to deduct taxes and report the transaction to the government. The clarification on the taxation of cryptocurrency was a long pending demand from the industry.

31.01 / 18:37

Blockchain Technology Ethereum defi Blockchain enthusiast allegedly losses $500k by sending WETH to contract address

In a now-deleted deleted profile, an anonymous Reddit user allegedly lost close to $500k on Sunday after sending wrapped Ether (wETH) directly into a wETH wrapping smart contract. wETH came into existence as a way for Ether (ETH) to conform to the ERC-20 token standard so that it can be traded directly with altcoins minted on the Ethereum blockchain.

31.01 / 17:25

Blockchain Provident defi Platform Unizen Secures Funding to Kickstart CeDeFi Alliance

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.

31.01 / 14:35

NFT defi Trading Non-fungible tokens Removing LooksRare's USD 8.3B in Wash-Trades, OpenSea is Still the Dominant NFT Marketplace

Non-fungible tokens (NFTs) data aggregator CryptoSlam has identified more than USD 8.3bn worth of wash trading on LooksRare, a new NFT marketplace. Subtracting this volume, it turns out that major NFT marketplace OpenSea is still the dominant player in the field.

31.01 / 09:45

defi Quadrigacx Terra Wonderland co-founder throws in the towel on beleaguered DeFi project

The co-founder of the embattled Wonderland decentralized finance project is preparing to pull the plug following a deeply divided community vote.

31.01 / 03:35

markets Ethereum defi Moon Cross-Chain Altcoin Roundup: Cross-chain bridge tokens moon as crypto shifts toward interoperability

Interoperability is shaping up to be one of the main themes for the cryptocurrency market in 2022 as projects across the ecosystem unveil integrations that make their networks Ethereum (ETH) Virtual Machine (EVM) compatible.

30.01 / 07:25

cryptocurrency defi Hackers steal $80 mn in crypto, platform begs them to return funds

cryptocurrency worth $80 million from Qubit Finance, a decentralised finance (DeFi) platform, and the company is now begging hackers to return the stolen cryptocurrency. The value of cryptocurrency stolen makes this the largest hack of 2022 to date. Qubit Finance acknowledged the hack, and said in a tweet on Friday that the hackers minted unlimited Xplosive Ethereum (xETH) to borrow on Binance Smart Chain (BSC).

30.01 / 05:09

defi regulation DEX Is the rise of derivatives trading a risk to retail crypto investors?

BTCWith an increase in the number of retail investors dabbling in derivatives trading and investors hopping into decentralized exchanges (DEXs) due to regulations in the United States and China, there has been a rise in users utilizing derivatives DEXs, with Bitcoin (BTC) whales moving into derivatives and an increase in buying interest in derivative contracts.

29.01 / 01:03

business Blockchain Technology defi Rug Pull CertiK's identification of Crypto Cars as 'rug pull' was a false alarm

In a period of market downturns, rumors of crypto bans, and decentralized finance, or DeFi scams, blockchain enthusiasts can be sensitive to the smallest abnormalities within projects they follow and sometimes erroneously fear for the worse. The day prior, CertiK, a leading cybersecurity ranking platform in the blockchain space, issued a warning via Twitter regarding CryptoCars, alleging that it was a "rug pull." However, the staff quickly deleted the post as it was a false alarm.

29.01 / 00:11

Blockchain Technology defi Quadrigacx Future Daniele Sestagalli discusses Wonderland’s future after QuadrigaCX co-founder dox

On Friday, Daniele Sestagalli, co-founder of decentralized finance, or DeFi, protocol Wonderland and stablecoin protocol Abracadabra, issued a statement on the path forward after the doxing of his colleague Michael Patryn:

28.01 / 23:07

Blockchain Technology defi DEX Terra Luna Users flock to Curve amid lack of stablecoin liquidity on major DEXs

In a Tweet posted by user @cryptotutor Friday, a screenshot appears to show a 27% spread between stablecoin Magic Internet Money (MIM) and USD Coin (USDC) trading pair on decentralized exchange, or DEX, Uniswap (UNI). Both have a theoretical peg of 1:1 against the U.S. Dollar.

28.01 / 22:33

markets defi Federal Reserve Bitcoin Price Drop Terra (LUNA) at risk of 50% drop if bearish head and shoulders pattern plays out

Terra (LUNA) may fall to nearly $25 per token in the coming weeks as a head-and-shoulders (H&S) setup develops, indicating a 50% price drop, according to technical analysis shared by CRYPTOPIKK.

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