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“# Case examiner says Cred platform hired escaped prisoner as CFO ” Bankrupt cryptocurrency lending platform Cred Inc is believed to have unwittingly appointed a prison escapee as its Chief Financial Officer. A report filed by examiner Robert Stark of Brown Rudnick LLP on March 8 asserts that former Cred CFO James Alexander has been…
“# BlockFi users targeted in ‘racist and vulgar’ email attack ” This week’s temporary closure of registrations for crypto lending and borrowing app BlockFi was due to an attack by a “malicious actor” according to Forbes. According to employees of the company, a single attacker began the registration process for more 1,000 fake accounts on…
“# Celsius Network valued at $3.1B following independent review ” Using 2020 financials obtained from Celsius, Alpha Sigma Capital has determined that the crypto company has an implied value of $3.13 billion, which is approximately three times greater than its current market capitalization of $1.1 billion. It appears that “Celsius is currently undervalued,” Alpha Sigma…
“# Aave and Balancer announce hybrid AMM liquidity pool & lending product ” In the latest feat of decentralized finance money Lego magic, lending platform Aave and automated market maker Balancer have teamed up on a hybrid liquidity-and-lending feature that may significantly fatten depositor yields. In a blog post on Tuesday, Balancer CEO Fernando Martinelli…
“# Mainframe-rebrand HiFi launches fixed-rate lending protocol ” HiFi — the DeFi-focused recent-rebrand of onetime dApp platform Mainframe — is announcing today the launch of a fixed-rate DeFi lending platform. “Fixed-rate lending is an important milestone for DeFi,” said HiFi CEO Doug Leonard in a press release. “Investors and traders need less-volatile options so that…
“# Crypto lender Celsius has paid out $250M in rewards ” Celsius, a centralized cryptocurrency lending platform, claims to have paid out over $250 million in rewards to its 415,000 users, underscoring the rapid growth of blockchain lending protocols. Celsius announced the milestone in a Monday press release, which highlighted the company’s significant growth over…
“# Finance giant SBI expands cryptocurrency lending service to XRP ” Japanese financial services firm SBI Group has enabled XRP lending through its cryptocurrency-related subsidiary, SBI VC Trade. According to a Feb. 4 announcement, SBI VC Trade Lending users can now earn interest by depositing their XRP holdings between 1,000 and 100,000 XRP, with the…
“# Winklevoss’ Gemini crypto exchange launches ‘Earn’ offering ” Gemini cryptocurrency exchange has launched an interest-earning program for customers in the United States. Dubbed Gemini Earn, the program lets customers earn up to 7.4% annual interest on all cryptocurrencies supported by Gemini, the firm announced Tuesday. The platform supports 26 cryptos like Bitcoin (BTC), Ether…
“# Projects weigh security risks, benefits of liquidity pool token collateral ” Multiple decentralized finance (DeFi) projects are moving forward with plans to allow liquidity provider tokens as collateral for stablecoin and lending services — though experts caution that the security considerations associated with using LP tokens in this manner can be complex. LP tokens…
“# Cream Finance leaps into DeFi ‘corporate debt’ with Iron Bank launch ” The Cream Finance project, a lending protocol that recently merged into the Yearn ecosystem, announced the upcoming launch of its Iron Bank feature, a name inspired by the once-popular TV show Game Of Thrones. Cream’s Iron Bank is an attempt to create…