Is Vitalik Buterin about to jump from Ethereum to Bitcoin?

Ethereum co-founder Vitalik Buterin posted a tweetstorm this week revealing contradictions in his thoughts and values. Buterin listed ten distinct contradictions, including reducing reliance on people versus building lasting systems and his love of decentralization and democracy versus a tendency to agree with intellectual elites over “the people.” Thread: some still open contradictions in my…

Top German regulator executive wants DeFi regulated

Birgit Rodolphe, a senior executive at German financial services regulator BaFIN, has called for the regulation of decentralized finance. She cited the risks of fraud and hacks as enough reason to regulate the sector. According to Rodolphe, DeFi might seem like a magic word, but it’s not that simple.  “The scene is rich in technical…

GameFi Slides on Macro Trends but Individual Projects Shine | April Monthly Report

In April, GameFi game projects grew from 1,406 to 1,479, a monthly increase of 5.2%, with growth concentrated in the BSC and Polygon chains. Monthly active users were 9.22 million, and transaction volume was $34.37 million. But compared to March, active users and transaction volume fell by 24.9% and 73.4%, respectively. However, despite declining users…

Scream protocol losses millions to stablecoin depeg

Scream, a decentralized lending protocol on the Fantom network, incurred a $35 million debt after failing to adjust the prices of two stablecoins that lost their peg on its platform.  The DeFi protocol had hardcoded the value of these affected stablecoins, Fantom USD (fUSD) and DEI, to $1, meaning their decline did not reflect on…

Insurance protocols are paying out millions to UST holders

InsurAce, a DeFi insurance platform that offered cover against a UST de-peg event, has confirmed that they will be paying out $12 million in USDT to users who hold a valid policy. The CMO of InsurAce, Dan Thomson, confirmed to us directly that “we’ll payout and recover fast.” Thomson went on to say, “This shows…

Record amounts of crypto were stolen in DeFi hacks last quarter

After the record-breaking DeFi summer of 2020, the crypto industry has gone parabolic when adopting decentralized technologies. The industry has been racing to reinstate traditional financial services in the decentralized world throughout the last year, drastically expanding the DeFi market. To read the rest of this article, sign in or join CryptoSlate Edge. Get an…

Is the crypto bear market here?

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DeFi TVL drops below $200 billion as major protocols falter

The total value of assets locked in decentralized finance protocols has dropped below $200 billion, continuing the poor performance which has seen the space lose over 20% of its value since the year began, according to data from DeFiLlama. Major protocols shed TVLs Between the end of April and the beginning of this month, DeFi’s…

India eyes 20% taxation on DeFi gains

According to a report from The Economic Times, India is looking to extend its crypto taxations to include gains made from decentralized finance (DeFi) activities. 20% tax on DeFi The report, citing people familiar with the matter, said that the country’s tax department was looking at how it could impose a 20% tax on the…

Hashstack Finance releases Open protocol for DeFi lending

HashStack has just released the public testnet of its Open protocol, the world’s first-ever DeFi lending protocol to offer under-collateralized loans. The testnet is fully functional with over $5 million in TVL. Hashstack gives users a glimpse into the future of DeFi lending with under-collateralized loans. The DeFi lending landscape has been heating up in…