DeFi

On Tuesday, the Poly Network suffered a $612-million hack that did the hacker steal assets from Ethereum, Binance Chain, and the Polygon Network. It’s the biggest heist in DeFi history. However, the suspected hacker already returned over half of the stolen funds, saying he did it “for fun.” On Aug. 10, a hacker exploited a…

Ethereum began as a spark in the eye of co-founder Vitalik Buterin’s back in 2013. That’s when he released the whitepaper for the project, though the Ethereum network wouldn’t see the light of day until 2015. In between, there was the Ether sale in 2014, which is when early buyers could scoop up some of…

Ethereum is surging steeply last few days. Many investors are betting on the world’s second-largest cryptocurrency by market cap after its new upgrade with the codename “London” took place. This update should change the fee structure of each transaction, making those fees less volatile while reducing the amount of ETH in circulation. Another major transformation…

The US Securities and Exchange Commission (SEC) charged Cayman Islands-registered DeFi Money Market (DMM) and its two top executives for unregistered sales of more than $30 million of securities using smart contracts and decentralized finance. This is the SEC’s first securities case involving DeFi technology. Florida residents Gregory Keough and Derek Acree, along with Cayman…

Could DeFi revolutionize finance? And can regulators do something about it? Chris Matthews reflects in his MarketWatch column, while Washington is paying close attention to this $100 billion movement. More than a decade after its creation, Bitcoin and other cryptocurrencies have failed to achieve the dream of a new, widely-used global currency free from the…

Led by former professional poker players, the Ascensive Assets investment firm has raised a $130 million fund to focus on the decentralized finance (DeFi). That substantially exceeds Ascensive’s first fundraising of $24 million in 2019, backed by Polkaswap, Benqi, Yield Guild Games, and JennyDAO. By the words of Ascensive Assets partner Oliver Blakey, Investors in…