Celsius Network– a leading cryptocurrency lending platform – recently received a $400M investment from equity firm WestCap and investment group Caisse de dépôt et placement du Québec (CDPQ). With this, Celsius is now valued at over $3 billion USD. New Funds For Celsius As stated in a press release, the company’s new proceeds will go...Read More
The future of cryptocurrency lies in the expansion of DeFi applications. There is a phenomenal shift undergoing in the crypto space empowering Decentralised finance. It’s revolutionizing the way of facilitating transparency, permission, risks, and control. Hence, the top cryptocurrencies Ethereum, Solana, and Cardano battling it out to dominate the space. Let’s dive and discover who...Read More
MetaMask – the rapidly growing and highly popular Ethereum software wallet – plans to bring DeFi to large crypto-related institutions. They have partnered with three crypto custodians to respond to different organizational needs. Namely, those are BitGo, Qredo, and Cactus. MetaMask Brings Defi to Major Crypto Companies ConsenSys – the Ethereum software company that created...Read More
As part of its ecosystem expansion, a leading DeFi and CeFi aggregator OpenOcean announced the integration of Fantom, an open-source smart contract platform for decentralized applications (dApps), to offer users better trading opportunities. OpenOcean Integrates Fantom Per the announcement, the initiative will also see OpenOcean connect with other Fantom-based decentralized exchanges, including SushiSwap, SpiritSwap, SpookySwap,...Read More
Roughly a month after getting exploited for the second time this year, Cream Finance has reported that it has recovered more than $16 million of the funds. CryptoPotato reported on August 31st this year when the decentralized finance protocol Cream Finance suffered another security breach – this time, roughly $25 million in ETH and AMP...Read More
Central, Northern, and Western Europe (CNWE) has grown into the world’s largest cryptocurrency economy since July 2020. The region experienced a massive increase in trading activity since then– particularly in the DeFi space. The European DeFi Boom Data from Chainalysis shows that CNWE received over $1 trillion in cryptocurrency over the last year alone. This...Read More
Emurgo, the commercial branch of the Cardano ecosystem, has released a new product focusing on investing in startup protocols that want to build on the Cardano blockchain. This comes after several notable announcements from Charles Hoskinson’s team in the past few days. The official press release reads that the new investment vehicle, which will be...Read More
The popular decentralized cryptocurrency exchange aggregator, 1inch Network, will be expanding to Arbitrum. In a press release shared with CryptoPotato, the team revealed that the move is aimed at lowering transaction costs and improving throughput and withdrawal speeds. Arbitrum is an Ethereum scaling solution built using Optimistic Rollups, and it allows developers to cross-compile contracts for running...Read More
A contract address belonging to the DeFi lending platform Vee finance has been exploited with the perpetrator swiping 8,800 ETH and 214 BTC. The attacker has not moved the funds yet, as Vee’s team claiming they have initiated contact to resolve the incident. The protocol announced hours ago that it had halted all services as...Read More
The cross-chain DeFi protocol, pNetwork, has informed that it has become the latest victim of a security breach. By leveraging a codebase bug, the unknown perpetrator has stolen 277 bitcoins. As announced by the team behind the project, the hacker “was able to leverage a bug in our codebase and attack pBTC” on the Binance...Read More
Jump Capital – a Chigaco-based venture capital firm – decided to expand its cryptocurrency engagement by closing its latest fund at $350 million. The company has made 30 investments in the digital asset space in 2021 alone. Jump Capital’s Seventh Fundraise The American venture capital firm – Jump Capital – closed its largest fundraising round...Read More
WSBDApp, the blockchain-based trading platform related to the WallStreetBets movement, has partnered with Balancer to launch exchange-traded portfolios (ETPs) on the latter’s V2 platform. These products will aim to enhance decentralization for retail investors seeking alternative investment opportunities. WSBDApp Partners With Balancer The statement shared with CryptoPotato reads that Balancer – the automated portfolio manager...Read More
Recent reports revealed that Holdex Finance had become one of the most attractive projects in the DeFi space. According to the news published from Holdex Finance, The Team is negotiating with big projects such as AVAX, SOLANA, POLKADOT, FUSHION, and POLYGON. In addition, they will announce new collaborations and partnerships very soon. Holdex is compatible...Read More
Brian Armstrong took to Twitter on Sept. 8 to defend his company’s position against the latest onslaught from Uncle Sam’s heavy-handed financial regulator, the SEC. In a blog post titled “The SEC has told us it wants to sue us over Lend. We don’t know why.” Coinbase’s Chief Legal Officer, Paul Grewal, explained the situation...Read More
Following the announcement by core contributor “DeFi Ted,” COVER price plummeted 16% as trading volumes soared. Cover Protocol, a DeFi insurance cryptocurrency minted on Ethereum, will no longer receive support and development after engineers in the core team left suddenly. The insurance coin’s core contributor, “DeFi Ted” announced the project would be shutting down early...Read More
Popular cryptocurrency exchange OKEx has announced the launch of a new service called Decentralized Finance (DeFi) Hub. OKEx Launches DeFi Hub The newly launched service will focus on two of the hottest niches in the cryptocurrency space – DeFi and non-fungible tokens (NFTs), OKEx said in a press release shared with CryptoPotato today. Commenting on...Read More
Metamask wallet recently broke another personal record for growth and now has over ten million monthly active users of their wallet. In celebration, they will be hosting a party on Decentraland, coupled with a live stream of the event for those who can’t join. Another Milestone for Metamask After announcing their achievement on Tuesday, the...Read More
The popular DeFi protocol Cream Finance, which became the latest hack victim earlier this week, will allocate 20% of all the fees it charges to repay the affected customers. Additionally, the project has offered a bug bounty to the still unknown perpetrators and up to 50% for third parties who can assist with recovering the...Read More
Leading decentralized exchange (DEX) aggregator, 1inch Network has announced its partnership with the world’s largest bitcoin and cryptocurrency payment services provider, BitPay. BitPay Integrates With 1inch The integration with 1inch will enable BitPay wallet users to gain access to all of 1inch’s DEX aggregation functionalities for the best deals from multiple liquidity sources, the partners...Read More
Blockchain interoperability solution, Wanchain, has partnered with Moonbeam to deploy its non-custodial cross-chain infrastructure on Moonriver as part of its efforts to strengthen the decentralized finance (DeFi) ecosystem of Polkadot’s Canary network, Kusama. According to an official press release, both Wanchain and Moonbeam are poised to develop a multi-chain structure for the blockchain sector with...Read More
Leading automated market maker (AMM) Balancer Protocol has announced that it has launched support on the Layer 2 scaling solution, Arbitrum. Balancer Launches on Arbitrum In a press release shared with CryptoPotato on Tuesday, Balancer noted that the move is an effort to “significantly reduce gas costs and scale liquidity.” Arbitrum is a leading scaling...Read More
A slew of leading Ethereum based DeFi protocols– including Aave, Sushi, Curve, and PoolTogether– recently announced a $100M DeFi adoption initiative with Celo, a mobile platform for financial dApps. Adoption Initiative: “DeFi for the People” Announced today, the recent “DeFi for the People” initiative’s numerous founders include Aave, Curve, Sushi, PoolTogether, 0x, UMA, Valora, Ubeswap,...Read More
Leading DeFi and CeFi aggregator OpenOcean has continued to expand its ecosystem and has just recently integrated Avalanche, a high-scalable and open-source platform for launching decentralized finance apps. In a Monday press release shared with CryptoPotato, OpenOcean noted that its integration with Avalanche will allow its users to swap different digital assets utilizing the best...Read More
Six months after getting hacked, Cream Finance – a permissionless, open-source, blockchain agnostic protocol – suffered another breach. The team reported losses of up to $25 million in ETH and AMP. PeckShield Inc., a blockchain security company, highlighted the hack a few hours ago, providing the transaction in what appeared to be a flash loan...Read More
A spokesperson for AnChain.AI, a blockchain analytics firm, recently revealed a $600 000+ contract with the Securities and Exchange Commission to help the agency regulate and monitor the DeFi space. AnChain’s Contract with the SEC The contract – which began in May of 2021 – has an initial value of $125 000, which may escalate...Read More
After launching on August 19th, the algorithmic liquidity protocol BENQI has already reached $1B in TVL. Meanwhile, the price of Avalanche’s native cryptocurrency has been soaring. Big Support for BENQI BENQI is collaborating with AVAX in a joint liquidity mining program, in which $3M worth of AVAX will be provided as incentives to users of...Read More
The Poly Network drama seems to be officially over as the hacker has returned the remaining $141 million, according to a blog post from the DeFi project. ‘Full Asset Restoration’ Begins As per the announcement, at 8:39 AM UTC, Mr. White Hat gave his private key to the 3/4 multi-signature wallet in an embedded message,...Read More
In an announcement on August 16, Poly Network stated that it will soon be going live again. Additionally, Poly has teamed up with bug bounty platform Immunefi to offer $500,000 for white hats that discover smart contact flaws and code bugs. The bug bounty went live a couple of hours ago, according to Immunefi, which...Read More
In the decentralised finance (DeFi) arena, a well-known crypto trader known as Smart Contractor is anticipating massive rallies for two altcoins. Aave, a decentralised lending and borrowing system, is one of the cryptocurrencies that might potentially soar in the next months, according to the pseudonymous trader’s 158,500 Twitter followers. Aave linked with Ethereum (AAVE/ETH) is...Read More
After swiping more than $600 million in various cryptocurrencies, the anonymous PolyNetwork hacker has successfully transferred back most of the funds. He also rejected a $500,000 bounty offer and outlined plans to return all funds. CryptoPotato reported the record-setting hack earlier this week when PolyNetwork’s blockchain experienced a massive security breach. The anonymous perpetrator swiped...Read More
