Finance Redefined: Swindling the lender and a $100M pot, Aug. 30–Sept. 3
Hackers run wild, but DeFi marches on — all that and more in this week's Finance Redefined. Welcome to the latest iteration of Cointelegraph’s decentralized finance newsletter.Just as quickly as the summer departed from our calendars, millions of funds were hacked from the wallets of Cream Finance. This has been another jam-packed week in the DeFi space. Here are some top picks for the biggest stories in what is my debut appearance as Finance Redefined’s newsletter writer.What you’re reading is the shorter, snappier version of the newsletter. For the full roundup of DeFi developments....
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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....
DYdX volume tops Coinbase for the day, Cardano enables a new stablecoin, and a DeFi bounty hunter is highly rewarded — all coming to you this week in Finance Redefined. Welcome to the latest edition of Cointelegraph’s decentralized finance (DeFi) newsletter.DYdX surpassed Coinbase in daily trading volume for the first time this week. Read on to discover why this was a seminal moment for the project’s founder.What you’re about to read is the concise version of this newsletter. For the full breakdown of DeFi’s developments over the last week — released with more anticipation than a layer-two....
In this week's DeFi newsletter, we will look at the Andre Cronje debacle, the Polygon upgrade, the rise of ThorChain and the growing value of the DeFi ecosystem with synthetic assets. The decentralized finance (DeFi) ecosystem had quite an eventful week with several new developments and price action. The week started with DeFi “Godfather” Andre Cronje announcing his departure from most of his projects, leading to a massive drop in prices of projects that Cronje was associated with.CAKE DeFi launched a new $100 million venture fund to support Web3 initiatives, ThorChain spiked over 34%....
Eight days ago, the crypto lender Hodlnaut announced that the platform was suspending withdrawals after citing volatile market conditions. This week the company says it is seeking judicial management that aims to “provide the best chance of recovery.”
Hodlnaut Updates Customers — Crypto Lender Asks Singapore High Court for Judicial Management
The crypto lender Hodlnaut is looking for help from the courts so the platform can “avoid a forced liquidation” of the company’s assets. Last week on August 8, 2022, the crypto startup paused....
The centralized crypto lender rejected an had offer from FTX after it filed for Chapter 11 bankruptcy reorganization in July after 3AC defaulted on a loan and its debts topped $1 billion. Bankrupt centralized crypto lender Voyager Digital filed a notice Tuesday with United States Bankruptcy Court for the Southern District of New York informing the court of its intention to hold an auction of its remaining assets. The auction is proposed to take place on Sept. 13 at the Manhattan office of Digital Voyager’s investment banker Moelis & Company, with a hearing to approve the results on Sept.....