Tag: Fantom

Fantom’s TVL dropped from over $364 million in early May to about $70 million on July 14. At its peak in 2022, Fantom’s TVL topped $7.5 billion. Fantom’s co-founder Andre Cronje classified Multichain’s debacle as a “big blow” to the smart contract platform, which saw a sharp decline in activity in the past weeks as a result…

Multichain has suspended its operations after an unexplained transfer of crypto assets worth millions of dollars took place on July 6. Stablecoin issuers Circle and Tether have frozen over $65 million in assets tied to the suspected exploit of cross-chain router protocol Multichain. The move follows unexplained large outflows from the Multichain MPC bridge on…

Prominent developer Andre Cronje has quit the DeFi sector, according to an announcement today by his colleague Anton Nell, a senior solutions architect at the Fantom Foundation, who’s joining him in that decision without citing a reason. The price of YFI and other tokens where Cronje was involved plunged after reports of him leaving the…

Fantom (FTM) surpassed Binance Smart Chain (BSC) over the weekend to become the third-largest decentralized finance (DeFi) ecosystem by total value locked (TVL), as the value locked on DeFi-focused projects built on Fantom surged 52% in the past week. Ethereum remains the top DeFi protocol by value locked. On Monday, more than $12.2 billion worth…