DeFi News

Nomad-just-got-drained-over-$150M
DeFi Protocol Nomad Just Got Drained Over $150M

Nomad bridge released an alert about an ongoing hack. Multiple transactions of money were observed leaving the bridge. This attack will have far-reaching implications for the Ethereum network. On August 2, at around 3:00 a.m., Nomad bridge released an alert about an ongoing hack. The protocol’s coffers of over $190 million were emptied during the following hours. White hat ‘samczsun,’ a crypto community developer, broke down the chain of events in a blog post, describing them. He referred to it as “one of the most chaotic hacks that Web3 has ever seen.” Multiple transactions of money were observed leaving the

2 mins read
Bitcoin and DeFi Gears To Have Great Future Ahead, Analyst Says
Bitcoin and DeFi Gears To Have Great Future Ahead, Analyst Says

Dan Held, a former ‘Bitcoin maximalist,’ sees a place for DeFi in the future of cryptocurrencies. Dan Held will be the brand ambassador in a part-time role where he can elevate both Kraken and Bitcoin. Bitcoin maximalist believes that bitcoin is the only decentralized digital currency in the crypto market. According to recent reports, Dan Held, the long-time Bitcoin(BTC) backer, has stepped down from the role of the director of growth at crypto exchange Kraken to join the DeFi space. Dan Held will be taking part in the DeFi space as the brand ambassador in a part-time role. Held will

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EU Crypto Firms Make Efforts to Alter EU Policies
EU Crypto Firms Make Efforts to Alter EU Policies

EU crypto firms and organizations urged policymakers to make sure the regulations don’t exceed the guidelines. They seek that the EU will not require DeFi to register as legal entities. In addition, stablecoins must not be affected by the MICA regulatory framework. According to a report from Reuters, a total of forty-six European crypto businesses and organizations have sent a letter to twenty-seven EU finance ministers. The letter, as Reuters mentioned that they’ve seen it, is in regards to the disclosure requirements for crypto transactions. Inside the letter, dated April 13, the businesses and organizations urged EU policymakers to make

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Community Consensus Rules: How Governance Tokens Are Redefining Protocol Evolution
How to Make $10,000 a Month From DeFi Staking

DeFi staking is a popular way to make significant crypto returns. Investors can make up to $10,000 per month from DeFi staking. Also, Anchor Protocol is one of the most profitable staking platforms. Cryptocurrency is a fast-evolving industry with many lucrative opportunities to earn significant investment returns. Popular money-making crypto initiatives include Non-Fungible Tokens (NFTs) which rose to fame in 2021. One of the things that fueled interest in NFTs was Beeples selling an NFT for $69 million through a Christies auction in March 2021. While most of us might not have the artistic skills to create million-dollar NFTs, there

7 mins read
iTrustCapital Expands DeFi Stack With Fireblocks Integration
iTrustCapital Expands DeFi Stack With Fireblocks Integration

America’s iTrustCapital announces integration with Fireblocks. Together they will bring enhanced security to customers.  Customers can now enjoy a broader DeFi stack of products and services. America’s top software platform for buying and selling crypto via IRA retirement accounts — iTrustCapital, announces its integration with Fireblocks. The latter is a highly recognized infrastructure provider for digital asset businesses.  In detail, this development will allow iTrustCapital to further expand the custody of its client assets. More so, it will also bring competitive new services and products across the DeFi stack. In turn, this will provide a stronger level of security to

2 mins read
My DeFi Pet token
BSC-Based Crypto Game MyDeFiPet Token Reaches New ATH

My DeFi Pet (DPET) token reached an all-time high price of $2.40. MyDeFiPet is a blockchain-based game that uses Binance Smart Chain and KardiaChain. The crypto gaming space is on a roll, as My DeFi Pet (DPET) token reached its all-time high (ATH) at $2.40, according to CoinGecko. DPET price recently surged on July 11, although the price increase was not entirely sudden. On July 4, we already saw the charts move from a flat period. It gradually built until July 6, where there was a test at the $1.25 mark before the market fell again. Come July 11, the

2 mins read
My-DeFi-Pet
NFT Game My DeFi Pet Now Ready: Play and Earn DPET Tokens

My DeFi Pet, a blockchain NFT game, is now available to play worldwide. The platform has its own native token named DPET token. My DeFi Pet, the newest blockchain-based NFT game, is now available for all people worldwide to play. Interestingly, My DeFi Pet is a gameplay that enables gamers to collect, breed, evolve, battle, and do trading/socializing. Of course, all this is made possible with the help of blockchain technology. The team behind My DeFi Pet explained further: My DeFi Pet is the initiative for our vision of a mass-adoption blockchain game. The name encompasses the three characteristics of

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SushiSwap-SUSHI-to-25
Sushi Gears Up to Skyrocket Price to $25, Speculations Tighten

Sushi forecasted to surge its price to almost $25 based on its bullish trend performance SushiSwap initiated a process where a portion of its trading fees across the platform are paid out to token holders Sushi, one of the most active DeFi tokens, is forecasted to surge its price to almost $25 based on its bullish trend performance. This exclusive article will discuss the circulating rumors about the Sushi network hitting the bullish price of over $20.  Interestingly, Sushi is one of the most successful DeFi protocols that generated a $100 million cumulative revenue since its launch. In fact, Sushi’s

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BSC-Close-to-Overtaking-ETH
DeFi BSC Close to Overtaking ETH Total Value Locked

Binance Smart Chain (BSC) is already one step closer in overtaking Ethereum TVL. BSC achieved over $47 billion TVL while ETH surged to over $72 billion TVL. Binance Smart Chain (BSC) is already one step closer to overtaking Ethereum in terms of total value locked (TVL). Specifically, BSC has already achieved over $47 billion TVL, which is inching closer to the TVL of Ethereum amounting to over $72 billion. Indeed, BSC is one of the active and aggressive ecosystems inside the decentralized finance (DeFi) space. This event in the DeFi space made analyst Mati Greenspan react: Both are competing for

2 mins read
Uranium-Finance-Hacked.
Uranium Finance Suffers Over $50 Million from Crypto Hackers

Uranium Finance announced today that it has suffered a major cyberattack The DeFi project lost over $50 million worth of different cryptocurrencies Uranium Finance, the DeFi project under the Binance Smart Chain (BSC), announced today that it had suffered a major cyber attack. Specifically, the hacking incident happened during the network migration to its V2 platform upgrade. As a result, Uranium Finance lost various kinds of cryptocurrency amounting to over $50 million. Yes, this is a shocking incident that mostly affects the investors of the platform. Furthermore, the hackers successfully integrated a bug in the V2 upgrade of the Uranium

1 min read