DeFi

DeFi, short for decentralized finance, represents a shift in the financial sector by leveraging blockchain technology, primarily Ethereum, to eliminate traditional financial intermediaries. It enables various financial applications, from simple transactions to complex contracts, through smart contracts that execute automatically under specific conditions. Key DeFi applications include decentralized exchanges (DEXs), stablecoins, lending platforms, and prediction markets. DeFi offers financial services like loans and interest-earning opportunities without traditional identity verification, relying instead on collateral, usually in cryptocurrency. This innovative sector promises increased accessibility and efficiency but comes with risks, such as market volatility and unregulated projects.

Markets

Celsius Pays Off Aave Loan, Moves $418M 'stETH' Stack to Unknown Wallet

The liquidity-stricken crypto lender fully paid off its debt to the decentralized finance protocol, freeing $26 million in tokens as part of its latest debt restructuring maneuver.

By Krisztian SandorJul 12, 2022

Consensus 2019 Alex Mashinsky Founder and CEO Celsius Network (CoinDesk)

Finance

A16z, Variant Lead $18M Round for Lending Protocol Morpho Labs

The protocol enhances existing lending protocols such as Compound and Aave with peer-to-peer liquidity.

By Brandy BetzJul 12, 2022

A16z partner Chris Dixon (Steve Jennings/Getty Images for TechCrunch)

Markets

Celsius Reclaims $410M of 'stETH' Tokens After Paying Down $81M Debt to Aave

The embattled crypto lender Celsius is inching closer to fully paying off its loans from decentralized finance protocols, reducing its outstanding debt to $59 million.

By Krisztian SandorJul 12, 2022

Alex Mashinsky, founder and CEO of Celsius Network, at Consensus 2019 (CoinDesk)

Policy

El regulador internacional IOSCO se enfocará en reglas cripto y DeFi globales

En sus primeros dos años, el nuevo grupo de trabajo fintech del emisor de estándares globales se concentrará en establecer recomendaciones de políticas para activos digitales.

By Sandali HandagamaJul 11, 2022

El emisor de estándares internacionales para la regulación de valores IOSCO planea publicar recomendaciones de políticas para cripto y DeFi para fines de 2023. (simoncarter/ Getty)

Markets

Celsius Reclaims $172M Collateral From Aave, Compound

The liquidity-strapped crypto lender has paid down $95 million in debt from the two DeFi platforms since Friday.

By Krisztian SandorJul 11, 2022

Alex Mashinsky, founder and CEO of Celsius Network, at Consensus 2019 in New York (CoinDesk)

Policy

International Securities Regulator IOSCO to Focus on Global DeFi, Crypto Rules

In its first two years, the global standard-setter's new fintech task force will concentrate on setting up policy recommendations for digital assets.

By Sandali HandagamaJul 11, 2022

Markets

Celsius Pivots Toward Paying Off Aave, Compound Debt, With $950M Collateral as Prize

The troubled crypto lender Celsius started to make good on the $258 million debt on the decentralized lending protocols Aave and Compound – possibly in an attempt to reclaim collateral it had posted as guarantees. The transactions come just a day after Celsius used a debt-paydown to reclaim collateral on Maker.

By Krisztian SandorJul 8, 2022

Celsius CEO Alex Mashinsky (CoinDesk archives)

Opinion

Celsius Looks Sloppy in New Lawsuit, but So Does the DeFi Legend Suing It

While underscoring Celsius’s disregard for risk and weak controls, KeyFi’s lawsuit also casts new, unflattering light on the crypto whale known as @0x_b1.

By David Z. MorrisJul 8, 2022