DeFi

The real reason why the FTX failure hits so hard is not that the crypto industry was duped but because it proved that the industry was vulnerable to being duped – Sam Kessler explains on CoinDesk. Depending upon whom you ask, last week’s FTX blowup feels bigger than when Mt. Gox, the original Bitcoin exchange,…

Cardano developer Emurgo announced plans to issue a US dollar-pegged stablecoin, USDA, on the Cardano network in early 2023. Emurgo plans to introduce USDA by the end of Q1 2023. Emurgo, Cardano’s official commercial arm, said in a statement that USDA will be the first regulated stablecoin on the blockchain backed by a fiat currency….

Solana developers are forking Serum, the FTX-developed liquidity hub widely used on Solana, after it may have been compromised in the FTX hack. Meantime, some Serum-related Solana apps have begun limiting their exposure, citing security concerns. On Nov. 11, an unknown attacker made unauthorized withdrawals of more than $400 million from FTX. The situation has…

As blockchain technology and cryptocurrencies become more popular, they can help overcome financial bias, strengthen financial markets and enhance law enforcement, Bas Lemmens, SVP & GM International, Chainalysis, explains in an interview with ZAWYA. In the popular mind, the blockchain and cryptocurrencies are often linked with ransomware and money laundering. But according to Bas Lemmens,…

The crypto industry can provide novel opportunities to generate value, but some of those avenues can’t all be found in traditional finance, writes Tongtong Gong on CoinDesk. Crypto is a $900 billion global market that institutional investors are sizing up. Despite the inherent risks involved in participating in any nascent sphere, institutional financial players are…

Crypto-staking platform Freeway, which touted up to 43% annual rewards, halted withdrawals and deposits on its platform on Oct. 23, citing market volatility. The platform also deleted its team details, which allegedly hints at a rug pull, according to FatManTerra. As a result, the platform’s native token FWT was down more than 70% over the…