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

DeFi Lender Sky Ratifies Plan to Offboard Wrapped Bitcoin, Due to Sun Concerns

The matter has been closely followed in crypto markets, since the Sky platform has $200 million of loans collateralized by the token, and since WBTC is one of the biggest cryptocurrencies, with nearly $10 billion outstanding.

By Margaux NijkerkSep 19, 2024

Finance

Solana-Based Drift Raises $25M to Build 'SuperApp' for DeFi Trading

The DeFi platform plans to build an array of financial services tools, including spot and derivatives trading and a predictions market.

By Jamie CrawleySep 19, 2024

Finance

Three Ways DeFi Will Revolutionize Financial Services

DeFi is poised to create a future where financial services are digital, open, always-on, and borderless, says Bill Barhydt, CEO, Abra.

By Bill BarhydtSep 18, 2024

Finance

DYdX to Debut Perpetual Futures on Prediction Markets as DEX Seeks to Raise Profile

Decentralized finance needs to develop a unique offering relative to centralized venues, dYdX Foundation CEO Charles d'Haussy said.

By Omkar GodboleSep 17, 2024

Charles d'Haussy. (https://charlesdhaussy.com/)

Markets

Crypto Broker DeltaPrime Drained of Over $6M Amid Apparent Private Key Leak

The project is offered on both Arbitrum and Avalanche blockchains. Monday’s exploit impacted only the version on Arbitrum as of European morning hours.

By Shaurya MalwaSep 16, 2024

Finance

Latin American Crypto Exchange Ripio Unveils DeFi Credit Card With Visa

The card will allow users to access up to 30% of blocked assets in a liquidity pool.

By Andrés EnglerSep 13, 2024

Finance

World Liberty, Crypto Project Helmed by Donald Trump's Family, Will Release on Sept. 16

World Liberty Finance is helmed by Trump’s sons, Eric Trump and Donald Trump Jr, and the 18-year-old Barron Trump is the project's "DeFi visionary.”

By Shaurya MalwaSep 13, 2024

Donald J. Trump at a rally (Gerd Altmann, modified by CoinDesk)

Finance

DeFi Lending Giant Sky Sets Vote to Offload Wrapped Bitcoin as Justin Sun Concerns Linger

The action could impact $200 million of DeFi loans in the Sky ecosystem should the proposal pass.

By Krisztian SandorSep 12, 2024

A cardboard cutout of Tron founder Justin Sun (Danny Nelson/CoinDesk)

Markets

Bitcoin Yields as High as 45% on Offer in Pendle's New Pools

The floating yields on the bitcoin-based LBTC token are from pools that went live on Wednesday. There's also a fixed-yield option of an annualized 10%.

By Shaurya MalwaSep 12, 2024