Coinbase launches crypto lending platform for US institutions
Cryptocurrency exchange Coinbase has rolled out a crypto lending service for institutional investors in the United States, reportedly aiming to capitalize on massive failures in the crypto lending market.Coinbase has quietly launched an institutional-grade crypto lending platform, Coinbase ...
Legal Battle Ensues as BlockFi Counters FTX and Three Arrows Capital’s Claims
Bankrupt cryptocurrency lender BlockFi is trying to block attempts by the similarly bankrupt FTX and Three Arrows Capital (3AC) that aim to retrieve hundreds of millions of dollars to pay back their creditors. BlockFi claimed in an Aug. 21 filing to a New Jersey bankruptcy court that its own cred ...
CRV exposure risk throws a curveball at the DeFi ecosystem: Finance Redefined
Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week.The $47 million Curve Finance exploit on July 30 had a domino effect on the DeFi ecosystem, mainly due ...
Curve founder looks to unexpected counterparties to rescue sinking DeFi loans
Curve Finance founder Michael Egorov is attempting to offload some of his DeFi positions to alleviate his mountain of debt, but some have highlighted his liquidity sources.On Aug. 1, Nansen research analyst Sandra Leow posted a list of liquidity sources for Egorov’s Curve DAO (CRV) p ...
Curve liquidation risk poses systemic threat to DeFi even as founder scurries to repay loans
On July 30, Curve Finance, a decentralized exchange on Ethereum, suffered a hack due to a vulnerability in certain pools built using the Vyper programming language.The price of Curve DAO (CRV) dropped 20.91% on the day of the hack, falling to a two-month low of $0.58. The next day, ...
Redditor up 25% after boldly taking out $59K worth of personal loans to buy BTC
A Redditor and member of the r/CryptoCurrency community is claiming to be up 25% or $19,500, after taking out three personal loans worth a combined $59,000 to buy Bitcoin (BTC) over the past 18 months. According to the Redditor, whose account is crudely named “Vaginosis-Psychosis,” they no ...
Curve’s (CRV) price hits a 1-year low amid looming liquidation threat
Curve DAO’s governance token CRV dropped 12% on June15 after reports surfaced of risky loans taken by its founder, Michael Egorov, on Aave. The token recorded its lowest trading level against ether (ETH) at 0.00035010 ETH on June 15.According to on-chain analytics outlet LookOnChain, Egoro ...
Circle’s Euro Coin Stablecoin (EUROC) Joins Avalanche Ecosystem for Seamless Transactions
Circle announced that its Euro Coin Stablecoin (EUROC), pegged to the euro, is supported by the Avalanche ecosystem. This will allow any transactions with EUROC between the Avalanche and Etherium networks. EUROC Stablecoin appeared ...
Coinbase Suspends Borrow Service Allowing U.S. Residents to Obtain Loans Against Cryptocurrencies
U.S. cryptocurrency exchange Coinbase decided to suspend the service Borrow, which allowed U.S. residents to obtain loans in fiat currencies on the security of cryptocurrencies. The reason for this decision was not reported. Access to new loans exchange will close as earl ...
Novokuznetsk Resident Falls Victim to Cryptocurrency Scam and Loses 6.7 Million Rubles
In the Kemerovo Region of Russia, a woman residing in Novokuznetsk has fallen prey to a fraudulent scheme involving cryptocurrency. Despite being an economist herself, the 54-year-old victim took out loans and mortgaged her apartment to invest 6.7 million rubles in what she thought was a reliable ...
Founders and key employees of FTX received $3.2 billion in payments and loans
It seems that FTX, a cryptocurrency exchange, has been involved in a scandal in which its founders and key employees received large sums of money, mostly from a subsidiary of Alameda Research. The total amount received was $3.2 billion, with $2.2 billion going to FTX creator Sam Bankman-Fried. ...