DeFi

For the near future, financial executives can expect substantial ambiguity surrounding all things DeFi, which they can best confront with an open mind, a level head, and a willingness to roll up their sleeves and get involved, Jorge Camarate, Antoine Khadige, and Vishal Gupta, Senior Associate, from Strategy& wrote on Arabian Business. Financial service companies…

As crypto adoption continues to rise at unprecedented levels, Stephen Stonberg, CEO of cryptocurrency exchange Bittrex Global, sees the growth of the crypto sector as ‘too big to ignore’ for traditional financial institutions. Just regulatory clarity would provide added impetus to it, he suggests. Crypto adoption continues to rise at unprecedented levels, with expanding use…

Ava Labs, the lead developer of Avalanche (AVAX), is raising a new round of funding for $350 million at a market valuation of $5.25 billion, Bloomberg reported. The raise comes as the total value locked (TVL) on the Avalanche blockchain remains steady at around $14.6 billion. Bloomberg reported the new fundraising on Thursday, citing people…

The Luna Foundation Guard, a Singapore-based nonprofit building reserves for the stablecoin Terra (UST), announced that it would buy $200 million worth of AVAX tokens from the Avalanche Foundation to augment its UST reserves. This strategic move pushes forward Terra’s cross-chain development and diversification. The Luna Foundation Guard (LFG) and Terraform Labs (TFL), the two…

Polygon is one of the most popular Ethereum layer-2 scaling solutions with a booming DeFi ecosystem. Everything you need to know about it writes Jose Oramas on CryptoPotato. Polygon, formerly known as MATIC network, is a layer-2 scaling solution created in 2019 to address several limitations in the Ethereum blockchain, such as transaction speed, throughput,…

Ronin Network, an Ethereum-based sidechain created by Axie Infinity developer Sky Mavis to support its popular NFT-based game, was exploited by an unknown hacker and lost roughly $625 million worth of crypto on Tuesday. It may be the largest exploit in DeFi history. The Ronin Network published a blog post explaining how its network was…