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2021-10-26 14:51:37 CFTC Investigates Polymarket

The Commodity Futures Trading Commission (CFTC) is investigating Polymarket to see if the market forecasting platform allows customers to mistakenly trade swaps or binary options and whether it should be registered with the agency, Bloomberg reported, citing people familiar with the matter.

The company, which has facilitated about 4 billion shares since it began operations last year, is negotiating a new round of financing that could value the platform at nearly $1 billion, Bloomberg said, citing two people with knowledge of the matter.

New York-based Polymarket has hired a former head of the CFTC's law enforcement division to handle the investigation. At this point, the CFTC declined to comment on anything.

DeFi entrepreneurs have long argued that smart contract interfaces should not be controlled like centralized exchanges. Open / Comment

2021-10-15 20:06:07 Cryptocurrency lending company Celsius Network raised $400 million

Cryptocurrency lending platform Celsius Network has raised $400 million in a new round of equity financing amid increasingly tough measures by U.S. regulators on cryptocurrency lending.

"It's not $400 million. It's the trust of the people who wrote those checks," Celsius' CEO said.

In announcing the news Tuesday, Celsius noted that the latest funding came from Canada's second-largest pension fund, the Caisse de dépôt et Placement du Québec (CDPQ), and WestCap, an equity firm founded by former Airbnb executive Lawrence Tosi.

Celsius also plans to double its team from 486 employees to nearly 1,000 and to expand globally through strategic acquisitions.

Celsius Network (CEL) allows users to earn interest from owning digital assets such as bitcoins (BTC). Open / Comment

2021-10-02 09:32:10 Robinhood may add support for DeFi and NFT

Robinhood executives said that the launch of the cryptocurrency wallet is just the first step, and soon users will have more options to interact with the industry, including DeFi and NFT.

Robinhood's platform began testing the cryptocurrency wallet last week and said full functionality rollout is planned for the first half of 2022. Robinhood Chief Operating Officer Christine Brown hinted during a speech at the Messari Mainnet conference that she wanted to let Robinhood customers explore DeFi.

"We would like to give our customers more options that would make cryptocurrency a useful tool in their daily lives, not just an investment asset," Brown said.

Brown hinted that Robinhood could add NFT trading if customers wanted it, and Robinhood CTO Johann Kerbrath confirmed this. Open / Comment

2021-09-25 08:25:57 DAOventures launches the world's first index fund with returns

DAOventures' meta-universe index fund, also known as MVF, gives investors access to the fast-growing meta-universe.

You don't have to go through complicated KYC procedures or accreditation to invest in the fund: all assets are held independently. This makes it easy for people to invest in the index with minimal disclosure.

Metaverse Farmer is a DeFi-strategy based on Ethereum and designed to make money from the growing NFT gaming ecosystem. The DeFi-industry has grown 88 times in the past year, and NFT sales have grown from $13 million in 2020 to $2.5 billion in the first half of 2021 alone.

The bulk of Metaverse Farmer's assets are in ETH, with the rest distributed among NFT game leaders AXS, SLP, ILV, GHST, REVV and MVI.

The fund not only capitalizes on the growing metaverse industry, but also takes advantage of income farming by providing liquidity and earning interest. Open / Comment

2021-09-23 14:03:47 Cosmos is in the top 20 cryptocurrencies

Cryptocurrency Cosmos (ATOM) made new all-time highs in the morning, despite the overall market decline. ATOM's altcoin rose 450% in two months, thanks to the successful development of Tendermit, a network that manages the consensus layers of various blockchains.

In 2021, Cosmos developers managed to launch a hub that connects different blockchains into a single ecosystem, interacting with each other and external networks, such as Ethereum and Bitcoin.

The robustness of the IBC interconnect protocol, creates another alternative technology for scaling transactions. As a result, Cosmos became a competitor to Polkadot and Ethereum, which led to ATOM's altcoin's return to the top 20 cryptocurrency rankings.

Today's rise is driven by corporate news. The Mainnet 2021 Crypto Conference opens this evening, where Cosmos' founders will be keynote speakers. Open / Comment

2021-09-16 10:17:28 Sifchain Releases Latest Peggy 2.0 Update

Sifchain, the DEX omnichain platform connected to the Cosmos network, recently released an update 2.0 for its proprietary Peggy product. Peggy is a two-way bridge that connects Sifchain to the Ethereum network and provides a seamless flow of assets between the chains. Now that Sifchain is connected to the Cosmos network, Peggy also facilitates the transfer of assets from Ethereum to any of the chains connected to Cosmos.

This innovative project has received significant support in the marketplace, and taking advantage of this success, Peggy has released a new and improved version of Peggy 2.0. In this update, Peggy will become an omni-EVM chain bridge, meaning that in addition to Ethereum, Peggy will facilitate the flow of assets to and from all EVM (Ethereum Virtual Machine) compatible blockchains. Open / Comment

2021-09-11 18:21:06 DeFi Cover and Ruler projects shut down

Decentralized finance insurance provider (DeFi) Cover, along with its smaller lender sibling Ruler, are shutting down after the development team that served them both abandoned the projects.

The token price of both protocols fell on the news, with COVER falling from $268 to $228, while RULER fell from $10.68 to $1.37, according to CoinMarketCap.

While the announcement from the community manager known as DeFi Ted doesn't say why the development team left, the protocols suffered from problems, especially Cover. Last December, the protocol fell victim to a so-called White Hat attack, and then Yearn Finance dropped its plans to merge with Cover in March.

DeFi Ted warned users to withdraw any funds from the protocols as soon as possible.

History will be updated. Open / Comment

2021-09-03 17:35:20 TVL in DeFi is breaking records: the United States, Vietnam and Thailand lead the sector

The United States, Vietnam, Thailand, China and the United Kingdom lead the world in decentralized finance (DeFi) adoption, according to Chainalysis' global DeFi adoption index released this month.

"While mass adoption of cryptocurrency tends to be highest in emerging markets, DeFi adoption is strongest in high-income countries that already widely use cryptocurrency, especially among traders and institutional investors," Chainalysis said in its report.

Chainalysis' DeFi Adoption Index rates 154 countries on their DeFi activity, weighted by purchasing power parity (PPP) per capita, transaction value and total number of Internet users. Open / Comment

2021-09-02 14:58:25 NWC Platform 3.0 Update

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2021-09-02 10:58:37 Hackers steal $4.5 million from xToken's DeFi protocol

The decentralized finance (DeFi) protocol xToken has once again become a victim of cybercriminal attacks. This was reported by the developers of the project in their blog. According to preliminary estimates, the protocol lost $4.5 million in another flash credit attack.

According to the transaction, the attackers issued a flash loan of 25,000 ETH ($79.2 million). Later, they used the loan to borrow ~1 million SNX tokens through the decentralized platforms Aave V1 and V2. Another 6.8 thousand ETH were converted to 519 thousand SNX via the Bancor service, bringing the total amount of the attackers' reserves to 1.5 million SNX. Subsequently, the unknown persons converted SNX to USDC to the amount of 6.5 million USDC, which significantly lowered the price of SNX.

The developers promised to compensate for the loss, but the details of the reimbursement remain unknown. Open / Comment