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Is DeFI unravelling, or are these just growing pains? The rapidly expanding DeFi space is becoming riddled with scams as another suspicious project has headed for the exits carrying speculators' money. "A new liquidity mining pool DeFi project, Yfdexf.Finance has exited the market after defrauding investors of $20 million in total funds locked in its protocol," media outlet ZyCrypto wrote...
The New York Attorney Generalâs office (NYAG) wants Tether and Bitfinex to immediately turn over documents detailing a $900 million line of credit the first entity extended to the second, according to a new filing with a public court system. The NYAGâs office began a formal inquiry into Bitfinex and Tether last April, when it alleged Bitfinex had lost access...
Cryptocurrency is the buzzword flying around the trading community for the last decade. Bitcoin was the first to show the real power of unregulated digital currency that allowed quite a number of people to acquire wealth through sheer patience. Some have bought it back in 2008 and kept their wallet to themselves, even forget about them for a bit, just...
SushiSwap investors were handed a raw deal over the weekend after the pseudonymous founder of the $1.27 billion, 1.5-week-old decentralized finance (DeFi) protocol cashed out. A fork of DeFi darling Uniswap, SushiSwap is the brainchild of a pseudonymous founder, Chef Nomi, who took the former project an extra yard by adding rewards for providing liquidity to the exchange through a...
The governor of the Bank of England (BoE) has said stablecoins need global regulation, warning private issuers that an international regulatory framework could soon be in the cards. Governor Andrew Bailey said regulators have to come together for a "global response" so they can effectively regulate stablecoins. Speaking Thursday, he said the international nature of stablecoins, which can be based...
Youâre reading First Mover, CoinDeskâs daily markets newsletter. Assembled by the CoinDesk Markets Team and edited by Bradley Keoun, First Mover starts your day with the most up-to-date sentiment around crypto markets, which of course never close, putting in context every wild swing in bitcoin and more. We follow the money so you donât have to. You can subscribe here....
The U.S. Office of the Comptroller of the Currency (OCC) is forging ahead with a long-in-the-works plan to offer national banking charters to payment firms that donât take deposits, but not everybody is happy. According to a Tuesday report by Politico, Acting Comptroller of Currency Brian Brooks is spearheading the move that would empower payment firms to operate across state...
Cryptocurrency exchange Huobi is taking aim at competitor OKEx in China, specifically the business of trading bitcoin futures and other derivatives contracts. The fight opens a new front in a longstanding rivalry. OKEx, which is led by Chinese executives and based in Malta, is the worldâs biggest crypto derivatives exchange, with outstanding contracts valued at $1.26 billion, according to the...
Great news! We have added a new DeFi section. The most popular format of blockchain projects is now available on our platform.
Federal Reserve Chairman Jerome Powell explains the U.S. central bankâs economic approach, including how it will address its previous 2% inflation goal over the next decade ND (10:00): Powellâs done for the day. The symposium will continue through tomorrow, with Bank of England Governor Andrew Bailey giving a speech Friday morning. BK (10:00): Based on the muted market reaction after...
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