Binance To Compensate Cover Hack Victims With $10 Million SAFU Fund

Leading cryptocurrency exchange, Binance has announced a compensation plan for the COVER hack victims on its platform. This is a remarkable gesture from the exchange towards its customers that lost their tokens in the hack. $10 million to be distributed from Binance SAFU Fund Binance revealed more about the compensation plan in an extensive blog post on its website. According to the exchange, the decision to compensate affected customers was taken after a COVER team meeting. The embattled Defi platform informed…

Yearn Finance (YFI) Platform Partners With DeFi Protocol Cover

Less than 24 hours after news broke, that decentralized finance (DeFi) platform Yearn Finance (YFI) had partnered with Cream Finance protocol. It has announced a new merger with DeFi protocol Cover. In a blog post published on Nov 28. Yearn founder Andre Cronje revealed the merger between the two DeFi protocols. He further stated that the merger was a natural one since Yearn developers worked with Cover protocol developers since its inception. Cover will provide backstop coverage for Yearn DeFi…