Lending Financial News

10.07 / 21:07

Ethereum defi Hackers hacks lending Exploit Arcadia Finance hacker used reentrancy exploit, team demands return of funds

The Arcadia Finance attacker used a reentrancy exploit to drain $455,000 from the decentralized finance (DeFi) protocol, according to a July 10 post-mortem report issued by the app’s development team. A “reentrancy exploit” is a bug that allows an attacker to “re-enter” a contract or interrupt it during a multi-step process, preventing the process from being completed correctly.

04.07 / 12:13

regulation lending Bankruptcy creditors Creditors for bankrupt Voyager Digital billed $5.1M in legal fees

New York-based law firm McDermott Will & Emery filed for compensation of $5.1 million from the creditors of bankrupt crypto brokerage firm Voyager Digital. The bill is for legal services offered between March 1 and May 13, 2023.

04.07 / 11:21

regulation Trading Investing security Exchange lending Singapore's Monetary Authority Enforces Crypto Lending and Staking Ban for Retail Investors

Singapore's chief financial watchdog has decided to enforce a ban on lending and staking for retail customers.

04.07 / 06:27

business defi regulation Gemini lending FTX Bankruptcy NOT Winklevoss slams DCG's Silbert — Not even SBF was 'capable of such delusion'

Crypto exchange Gemini founder and CEO Cameron Winklevoss is again threatening to sue Digital Currency Group and its CEO Barry Silbert over delays in the resolution of Genesis for its Earn customers while slamming the CEOfor allegedly trying to play the victim card.

03.07 / 12:35

regulation security lending Bitcoin end Singapore to require crypto firms to put user assets into trusts by year-end

Singapore’s central bank is introducing new measures to improve investor protection and market integrity in the cryptocurrency industry.

03.07 / 10:57

regulation SEC lending Bitcoin Regulation Customer Thai SEC bans the use of customer crypto assets for lending and investment

Thailand’s Securities and Exchange Commission (SEC) has issued new rules for digital asset service providers focused on investor protection.

30.06 / 20:43

Blockchain NFT defi Hackers hacks lending Lost Over $204M lost to DeFi hacks and scams in Q2: Finance Redefined

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.

28.06 / 22:55

business Blockchain Ethereum defi lending Startups tech startups Maple Finance announces direct lending to fill the void left by BlockFi, Celsius

Web3 lending platform Maple Finance has announced the launch of a direct lending program, according to a June 28 fact sheet from the platform’s development team. The program is intended to replace services previously provided by Celsius, BlockFi and other now-bankrupt lenders.

23.06 / 16:43

business Government SEC lending FTX creditors Fine SEC waives BlockFi's $30M fine until creditors are paid

The United States Securities and Exchange Commission (SEC) has agreed to postpone the payment of a $30 million fine from bankrupt crypto lender BlockFi until creditors are paid back. The amount represents the balance of a $50 million settlement with the regulator from February 2022.

19.06 / 19:59

business Blockchain lending Withdrawals Delio Crypto lender Delio to resume withdrawals after counterparty contagion

According to a recent report by local news outlet Decenter, South Korean crypto lending platform Delio will resume withdrawals, albeit with no fixed schedule, after pausing them on June 14. In a meeting with investors on June 17, CEO Jung Sang-ho explained, "[Delio] will secure as much capital as possible to compensate” and that "users’ withdrawals would come in phases." No details regarding the specific repayment period, method and amount of damage were disclosed, however.

08.06 / 12:39

Blockchain defi lending Decentralization Cosmos Cosmos-based DeFi lending protocol Nolus joins Cointelegraph Accelerator

Crypto lending has become an essential part of decentralized finance (DeFi), allowing people to lend and borrow digital assets via specifically designed protocols. With crypto lending, users can lock their crypto assets as collateral and then borrow a fiat or stablecoin loan. Instead of traditional intermediaries, like banks and credit unions, DeFi lending protocols operate directly on a blockchain. Smart contracts facilitate each loan or borrowing, and on-chain supply and demand decide the interest rates.

26.05 / 15:29

markets Ethereum defi DEX lending DEX token Synthetix (SNX) trading volume overtakes GMX, but is the DEX token rally sustainable?

Synthetix weekly trading volumes surpassed $1 billion, overtaking decentralized derivatives exchange GMX to become the second-most active platform.

16.05 / 10:03

Law regulation lending Court Bitcoin creditors Customer BlockFi used customer money to buy $30M insurance, creditors claim

Disgruntled creditors of the bankrupt cryptocurrency lending firm BlockFi have submitted a new court filing in response to the company’s latest restructuring plan.

16.05 / 09:55

business regulation lending Celsius Whale Withdrawals Crypto bank runs in 2022 catalyzed by institutional withdrawals: Research

The 2022 crypto bank runs — caused by the failure of multiple ecosystem giants — have had a lasting impact on the crypto industry. A new research report from the Federal Reserve Bank of Chicago (FRBC) has identified several key factors and catalysts that accelerated last year’s crypto crisis.

05.05 / 21:19

business lending Court Bankruptcy Celsius court approval Eligible Celsius users can withdraw all 'Distributable Custody Assets' following court approval

Crypto lending platform Celsius has reported that certain users will be able to take out 100% of their original funds more than 300 days after the platform froze withdrawals.

03.05 / 19:39

NFT lending Marketplace Auction Sotheby’s launches on-chain secondary NFT marketplace: Nifty Newsletter, April 26–May 2

In this week’s newsletter, read about Sotheby’s auction house launching a secondary nonfungible token (NFT) marketplace. Find out about the popular marketplace Blur introducing an NFT lending protocol, and learn how a neobank has introduced soulbound NFTs for Know Your Customer (KYC) information. In other news, sellers are dominating the NFT market, and Meta is offsetting losses in its metaverse unit with artificial intelligence efforts.

03.05 / 17:57

business lending Celsius Mashinsky files motion to dismiss NY AG suits, says it ‘parrots misinformation’

Alex Mashinsky, co-founder and former CEO of bankrupt crypto lending platform Celsius Network, has filed a response to New York Attorney General Letitia James’ suit against him. According to the document, the suit has shortcomings in presenting the facts in the case and its legal argument and should be dismissed.

03.05 / 04:27

regulation lending Court Bankruptcy Celsius creditors Celsius eyes merge of entities as creditors claim distinctions were a ‘sham’

Defunct crypto lender Celsius Network is looking to combine its United Kingdom and United States entities as new court filings allege that any supposed distinction between the two companies was a “sham.”

02.05 / 18:35

Blockchain NFT lending Blur NFT lending surpasses $16M in loans, led by Matchi Big Brother

According to data sourced from user @beetle from Dune Dashboard, nonfungible tokens (NFT) marketplace Blur has facilitated 8,820 Ether (ETH), or roughly $16.37 million, in loans through its perpetual NFT lending protocol Blend one day after launch. On May 1, Blur introduced Blend as a novel protocol for pledging NFTs for loans, which was developed in conjunction with venture capital firm Paradigm.

02.05 / 10:59

business defi Investments lending Loans services ByBit joins crypto exchanges offering crypto lending services

Cryptocurrency exchange ByBit is the latest major platform to roll out an in-house cryptocurrency lending service for users.

30.04 / 02:19

Law regulation lending Circle Banks banking FDIC alleges Cross River engaged in 'unsafe' lending practices

The Federal Deposit Insurance Corporation (FDIC) has requested Cross River Bank – known for its services to fintech and crypto firms like Visa and Coinbase – to "self-correct" and appropriately address weaknesses in its lending activities.

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