Finance Redefined: Three Arrow Capital and Celsius fall brings a tsunami of ...
DeFi market saw a sharp decline in its TVL, falling over $25 billion from the last week due to sell-off pressure created by the bear market. This past week, the decentralized finance (DeFi) ecosystem faced the brunt of the bears fueled by liquidation rumors of Three Arrow Capital (3AC) and Celsius liquidations. MakerDAO decided to cut off Aave (AAVE) from its direct deposit module as a safeguard in light of the possibility that Celsius folds and crashes the price of staked Ether (stETH).Trading firm 8 Blocks Capital called out to platforms holding funds owned by 3AC to freeze the assets as....
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Lending firm Celsius raised $400 million, Rari Capital exceeded $1 billion in TVL, and North America witnessed surging crypto volume — all included in this week’s Finance Redefined. Welcome to the latest edition of Cointelegraph’s decentralized finance (DeFi) newsletter.In a week where Rari Capital achieved the $1billion TVL milestone, read on to discover why OlympusDAO is yielding four-figure sums on its most popular protocol. What you’re about to read is a shorter, more succinct version of the newsletter. For a comprehensive summary of DeFi’s developments over the last week, subscribe....
Yearn.Finance (YFI) is one of the most talked-about cryptocurrencies of 2020, both due to its scarce 30,000 token supply and its miraculous price increase to more than 1 BTC in value. However, the DeFi token could fall to $15,000 or deeper if Bitcoin brings down the rest of the crypto market. Yearn.Finance, Other DeFi Tokens […]
The CEO of Swan Bitcoin, Cory Klippsten, criticizes Celsius Network and other centralized crypto lending platforms, warning of possible market contagion. Swan Bitcoin CEO Cory Klippsten believes that the liquidity crisis involving Celsius Network may be just the beginning of a broader collapse in the crypto lending space. "It doesn't matter if you're an amazing CeFi lending platform, taking these retail deposits and lending them out the back end and giving them yield, or a terrible one, they're all going to get kind of dragged down," Klippsten said in an exclusive interview with....
In March, research from Alpha Sigma Capital suggested that the platform would reach $30 billion in assets under management by the end of 2025. Crypto lending platform Celsius Network has reported it holds more than $20 billion in digital assets, making the company one of the largest in decentralized finance.In a Tuesday announcement, Celsius said its holdings had grown more than 1,900% in less than a year, from $1 billion in June 2020 to $20.3 billion as of Aug. 13. The company conducted an internal audit using technology provided by analytics firm Chainalysis, also determining it was....
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....