Vee Finance Loses $35 Million in an Exploit on Avalanche

Vee Finance, a decentralized finance platform, has officially confirmed its hack on Avalanche. On September 20, the hacker managed to transfer funds worth $35 million. In terms of assets, it was 8804.7 ETH (around $26 million) and 213.93 BTC (around $9 million). According to the report, the hack didn't affect the stablecoin. As for the hacker, the report confirms that they have not yet transferred or processed the funds. The team is working to provide more details of the incident.…

All There is to Know About Rug Pull in Crypto

There is nothing as frightening to any investor as a financial scam, especially one that wipes out one's entire investments in a project. Such occurrences aren't just an enclave of cryptos either. The 2008 stock market crash caused by the too big to fall Lehman Brothers caused a devastating wipe-out of people's savings globally. The rug pull scam is one such frightening scam, though it's not quite to the scale of the massive mainstream financial crisis that sends entire economies…

The Future of Democracy and Financial Freedom with Cryptocurrencies

The current financial system experiences a myriad of issues that, in most cases, denies individuals access to financial services. Poverty rates continue to increase when users are financially excluded as statistics register the unbanked population to about 2 billion worldwide.  The launch of Bitcoin in 2009 by Satoshi Nakamoto aimed at substituting the traditional financial model with a fast and more advanced architecture. The outcome is evident since the number of digital currencies continues to increase, accumulating an overall market…

A Guide to Swivel Finance – The Protocol For Interest-Rate Derivatives

The derivatives market is one of the least popular cousins of the decentralized finance family. However, all of that is about to change. New DeFi protocols aiming to make lending derivatives easy and accessible are on the rise. And, they may be enough to give the ugly cousin a makeover. One of these promising protocols is Swivel Finance. Operating on the development of DeFiHedge finance, this decentralized protocol enables secure fixed-rate lending and interest-rate derivatives. Furthermore, it does so without…

Grayscale Ethereum Trust Returns to Accredited Investors and Traders 

Major crypto asset management firm, Grayscale has announced that its Grayscale Ethereum Trust is now open again. It resumed its shares' private placement after shutting down in December and five other trusts amid a historic Ethereum bull run. Users can buy and sell shares of Grayscale's publicly traded Ethereum Trust. This avenue provides exposure to the largest decentralized smart contract platform without worrying about storage, security, or regulatory concerns. A Grayscale spokesperson said that the Trust's private placement is offered…

5 Cryptocurrency Trends To Watch Out In 2021

The year 2020 is coming to an end, and it has been quite beneficial for the cryptocurrency industry. Despite ever-stricter regulations, Bitcoin (BTC) and altcoins have shown their strength in times of crisis, and new blockchain sectors have emerged. We take stock of upcoming trends for 2021. DeFi will consolidate to offer viable financial alternatives Decentralized finance (DeFi) has been the major story for the crypto industry in 2020. The explosion of the sector in the summer raised fears of…

Hackers Stealing $10 Million Monthly From Defi Protocols In 2020

According to the latest reports, hackers are stealing an average of $10 million monthly from Decentralized Finance (DeFi) protocols. CipherTrace, a blockchain analytics platform, revealed this information today in a comprehensive report on the crypto space. DeFi Protocols A Major Target For Hackers According to the report, 40% of all crypto hacks in the first half of 2020 was targeted at DeFi protocols and exchanges. This resulted in a total loss of $51.5 million from January to June from these…

Why Decentralized Banking Will Rule the World

Decentralized Finance (DeFi) is the latest rage for 2020. You may call it the flavor of the year on the crypto market and in financial investment in general, if you will. DeFi projects are skyrocketing in value from zero to hundreds of millions in just a few weeks. New tokens become prized assets soon after the launch. Everyone wants a piece of the pie, and if you’re late for dinner, there might not even be any crumbs left to settle…

What is COMP and Why Is Everyone Racing to Buy It?

The year 2020 will certainly be remembered for numerous events, with the world going “viral,” being just one of them. However, this year will go down in history for the cryptocurrency sector when Decentralized Finance (DeFi) protocols exploded. One of the most impressive things about DeFi is that reliable projects spur overnight. In just a few months, they become global ecosystems backed by large communities that pour in millions of dollars. One such success story (at least so far) is…

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