Several BAYC and CryptoPunks collectors who put up their tokens as collateral backing for Ethereum loans have been unable to settle their dues. Crypto analysts believe this could mark the onset of the first major liquidation crisis in the NFT industry. BendDAO Loans and Possible Risks Rumors of a liquidation spiral began earlier this week following a post about NFT lending platform BendDAO. BendDAO is a web3 protocol that allows users to take out loans in Ethereum using their non-fungible…
Tag: Decentralized Currency
America’s Libertarian Party Shows Support for “Decentralized Currency”
America’s Libertarian party – the nation’s third-largest political party – made a statement on Sunday that possibly signals support for cryptocurrency. The tweet advocated for the “separation of money and state” as an “imperative” for individual freedom. “A decentralized, immutable currency that scales and is salable over time and space will combat the power of the regime,” it reads. The statement seems to highlight properties for which Bitcoin is often praised. The primary cryptocurrency is known for being the first…
2 months ago 315
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