DeFi Lender In Trouble: SEC Charges Perpetrators For Raising $30 Million Ille...
A DeFi lender plus two of its top executives face a lawsuit from the Securities and Exchange Commission. SEC accused the firm of raising $30 million illegally by selling securities not registered with them. The firm called Blockchain Credit Partners is operating in the Cayman Islands. Its top executives, Derek Acree and Gregory Keough are […]
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The decentralized finance (defi) marketplace, non-fungible token (NFT) financialization platform, and lending application Arcade has announced the company has closed a Series A investment round for $15 million. Just recently, Arcade facilitated an onchain loan of $800,000 against an NFT portfolio from a lender with over $10 billion. Arcade Raises $15 Million in Series A Co-Led by Pantera Capital, Castle Island Ventures, Franklin Templeton Blockchain Fund The defi marketplace Arcade has raised $15 million in capital during a Series A financing round, according to the company. The investment....
The U.S. Securities and Exchange Commission (SEC) has charged cryptocurrency lending platform Blockfi in a first-of-its-kind action. The crypto lender has agreed to pay $100 million to settle the charges and pursue necessary registrations.
SEC Charges Crypto Lending Platform Blockfi
The U.S. Securities and Exchange Commission (SEC) announced Monday that crypto lending platform Blockfi has agreed to pay $100 million in penalties.
The SEC explained that “In this first-of-its-kind action,” it “charged Blockfi Lending LLC with failing to....
The Singapore-based crypto lender has lost close to $190 million, as per reports, due to its exposure to Terra’s algorithmic stablecoin UST. The crypto lender platform had downplayed its exposure to Terra’s stablecoin UST despite the fact that it had suffered a huge loss from the recent wipe-out. This report has been found by interim […]
Analytical data reveals that DeFi’s total value locked registered a minor dip from the past week, falling to a value of $56.45 billion. Welcome to Finance Redefined, your weekly dose of key decentralized finance (DeFi) insights, a newsletter crafted to bring you some of the major developments over the last week.This past week, the DeFi ecosystem saw several new developments despite a bearish phase brought on by the lending crisis in the crypto market. Another crypto lender, Celsius, with high stakes in DeFi protocols, filed for bankruptcy. The overall DeFi market fell to new lows in the....
Pancake Bunny, BurgerSwap, Belt Finance — What do these three protocols have in common? Apart from them being DeFi-based, they all have been victims of flash loan attacks in the past month. Based on data estimates, nearly $167 million has been siphoned in May 2021 by perpetrators who have leveraged zero-collateral loans to the T. […]