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“# DeFi platform Vee Finance exploited for $35M on Avalanche blockchain ” Decentralized finance (DeFi) platform Vee Finance reported $35 million losses in the latest exploit, just a few days after launching the mainnet on the Avalanche network. After pausing services due to suspicious activity on Sept. 20, Vee Finance confirmed that its platform was…
“# Following SEC notice, Coinbase abandons plan for crypto lending program ” U.S.-based cryptocurrency exchange Coinbase has announced it will not be pursuing its Lend crypto lending program. In a Sept. 17 update to a blog announcing the program in June, Coinbase hinted at difficulties in regulatory clarity across the crypto industry in its decision…
“# Texas and New Jersey regulators go after Celsius Network ” The Texas State Securities Board has filed for a hearing with the potential to impose a cease and desist order against crypto lending firm Celsius Network for not offering security licensed at the state or federal level, while the New Jersey Bureau of Securities…
“# US and Singapore companies collaborating: Okcoin partners with Hodlnaut ” Singapore-based crypto lending platform Hodlnaut will partner with United States crypto exchange Okcoin in an effort to drive adoption and crypto transactions among users. In a Wednesday announcement, Hodlnaut said the partnership would allow its users and those on Okcoin to purchase cryptocurrencies and…
“# Stanford researcher-led Pledge raises $3M for decentralized lending protocol ” Decentralized lending protocol Pledge has secured $3 million in investments for its cross-chain ecosystem focused on long-term financing, highlighting the continued innovation in the DeFi sector. The investment round was led by DHVC, a Palo Alto-based venture capital firm, with additional participation from U.C….
“# SEC threatens to sue Coinbase over crypto yield program it considers a security ” The United States Securities and Exchange Commission (SEC) has reportedly threatened to sue Coinbase over a crypto yield program it deems as a security. Coinbase CEO Brian Armstrong tweeted on Sept. 8 that has been some “really sketchy behavior coming…
“# BlockFi board of directors replaces ‘Crypto Dad’ after four months ” Former Commodity Futures Trading Commission chair Christopher Giancarlo, also known as “Crypto Dad,” will be leaving crypto lending firm BlockFi’s board of directors, but continuing to advise the group on digital assets. In a Wednesday announcement, BlockFi said Ellen-Blair Chube, a managing director…
“# Thai SEC proposes new rules for digital asset custodians ” The Securities and Exchange Commission (SEC) of Thailand continues introducing new regulations for the cryptocurrency industry, citing investor protection concerns. On Wednesday, the Thai SEC proposed a set of additional regulations related to custody of investors’ cryptocurrency holdings held by digital asset business operators. The…
“# DeFi protocol BENQI hits $1B TVL days after launching ” Liquidity market protocol BENQI has reached $1 billion in total value locked, or TVL, less than a week after launching on the Avalanche (AVAX) network, a major milestone that highlights the explosive growth of decentralized finance (DeFi) lending services. Benqi Finance announced the milestone…
“# No gear, no problem! 3 ways to earn Bitcoin through cloud mining and staking ” Bitcoin’s (BTC) rapid recovery above $46,000 has renewed calls for a $100,000 BTC price by the end of 2021, while the effects of China’s crackdown on the mining industry are slowly beginning to fade as the Bitcoin network hash…