Decentralized finance is a form of blockchain-based finance that does not rely on central financial intermediaries such as brokerages, exchanges, or banks to provide traditional financial instruments, instead of relying on smart contracts on blockchains, the most common of which being Ethereum.
Bedrock has introduced brBTC, a new Bitcoin derivative, to enhance Bitcoin's role in decentralized finance (DeFi). Integrated into Bedrock's Liquid Restaking Token (LRT), brBTC addresses key challenges in the DeFi space, including fragmented liquidity and limited yield opportunities. By enabling Bitcoin holders to deposit various derivatives, such as WBTC and ...
Read moreDetailsBabylon Labs, a major player in Bitcoin staking with over $2 billion in Total Value Locked (TVL), has partnered with SatLayer. This collaboration aims to improve Bitcoin's staking and restaking capabilities, enhancing liquidity, security, and capital efficiency for Bitcoin holders across various blockchain applications. SatLayer will become the primary restaking ...
Read moreDetailsAnalysts at Matrixport have suggested that Donald Trump's potential picks for key roles at the U.S. Treasury, Commerce Department, and possibly the Securities and Exchange Commission could usher in a crypto-friendly era. The crypto-based financial services platform released a report suggesting that the narrative in the country around Bitcoin as ...
Read moreDetailsDeFi lending protocol DeltaPrime has issued an ultimatum to the perpetrators of its recent $4.8 million hack. In a November 13 X post, the protocol’s co-founder, Gavin Hasselbaink, warned that legal action will be taken if the attacker fails to engage in dialogue, and efforts to track down the individual ...
Read moreDetailsA security breach on Base, a Layer 2 blockchain, has led to the theft of approximately $1 million. The exploit, which involved manipulated Wrapped Ether (WETH) contracts, was first reported on October 25 by blockchain security firm Cyvers Alerts. According to Cyvers Alerts, the attacker exploited a weakness in the ...
Read moreDetailsAccording to Anthony Agoshkov, Co-Founder of Marvel Capital and Founder of Alchemy Family, the convergence of traditional finance (TradFi) and digital assets is reshaping markets at an unprecedented pace. In a recent interview with Finance Magnates, Agoshkov expressed optimism about the transformative role of cryptocurrency, asserting that despite being in ...
Read moreDetailsBrazil is integrating DeFi principles into the creation of its own "synthetic" central bank digital currency (CBDC), Drex, formerly known as the Brazilian digital real. According to Roberto Campos Neto, president of Banco Central do Brasil (BCB), the South American country aims to design a CBDC that tackles the "trilemma" ...
Read moreDetailsRDX Works, the team behind the Radix DeFi platform, has reduced its workforce by 15%. CEO Piers Ridyard shared the news on Thursday via Telegram, stating that the decision is part of a broader cost-cutting strategy. He emphasized that these layoffs are vital to a larger strategy that includes significant ...
Read moreDetailsDeFi platform Zoth has reportedly raised $4 million to fund its efforts to launch digital versions of traditional fixed-income instruments on the blockchain. According to a new report, this new capital will fuel the launch of Zoth's Tokenized Liquid Note, a product designed to include secure, low-risk assets such as ...
Read moreDetailsA security vulnerability affecting Squarespace domains has exposed numerous DeFi protocols to phishing attacks, prompting industry experts to issue warnings and advice to users. On July 11, blockchain investigator ZachXBT alerted the community via Telegram about Compound Finance's website being redirected to a phishing site due to this vulnerability. The ...
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