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Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. The defi space has been relatively tranquil in recent times. At the beginning of 2023, the stablecoin trading project Platypus encountered a flash loan attack on AAVE, resulting in a loss of $9 million worth of assets. Since then, things have seemed to calm down in the defi space. You might also like: Embracing institutions today will keep defi’s tomorrow on track | Opinion Unfortunately, the lack of any earthshaking security breaches in the past few months should not be misinterpreted as a sign of great improvement in terms of safety. I think the defi space remains highly vulnerable to critical security lapses that could spell disaster for protocols. It is essential to be aware of these overlooked but significant risk factors that can cause major pitfalls in the protocol if not appropriately addressed. Let’s examine s...

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Flare, a blockchain optimized for data, is partnering with Kinetic, a lending and borrowing platform, to bolster the development of decentralized finance (defi) applications on the Flare network. According to an exclusive press release shared with crypto.news, this collaboration aims to introduce lending and borrowing capabilities , deepen liquidity, and help build a robust defi ecosystem on Flare. Under the partnership, Kinetic, backed by Rome Blockchain Labs, will provide a seamless platform for Flare users to participate in defi activities and earn block rewards using their supplied digital assets.  The platform will also utilize Flare’s native price oracle, the Flare Time Series Oracle (FTSO), to ensure accurate and decentralized price feeds for lending and borrowing activities.  You might also like: ...

The modular blockchain Celestia has launched its mainnet beta and distributed its native TIA token to 580,000 users , aiming to address scalability and stability issues prevalent in monolithic blockchains. Celestia, a modular blockchain, has launched its mainnet beta, signaling a shift towards scalable and stable blockchain solutions. This follows the distribution of its TIA token to 580,000 users , showcasing significant user adoption and interest. Monolithic blockchains like Ethereum (ETH) and Solana (SOL) have struggled with scalability and stability issues, leading to the rise of modular blockchain solutions like Celestia. Unlike monolithic counterparts, modular blockchains use specific channels for speed and execution, achieving scalability without compromising decentralization or security. A key innovation of Celestia is its implementation of data availability sampling (DAS), a method that ensures all data on the blockchain is verifiable and accessible, resulting in faster ...

Members of the SushiSwap community want to abandon the Kanpai 2.0 model, as it has become the reason for the weak tokenomics of the crypto exchange. The decentralized crypto exchange (DEX) SushiSwap community is proposing to return to the previous model, in which all of the commissions are transferred to the stakers of the xSUSHI token. According to the authors of the discussion, since the creation of the Kanpai 2.0 model in December last year, the tokenomics of the project has weakened too much. The native token of the Sushi ecosystem (SUSHI) has lost its main purpose. It consists of receiving the generated commissions: 100 percent now goes to the project treasury. Additionally, SushiSwap’s Total Value Locked (TVL) has dropped from a peak of $8b to the current $400m. “This has seen a relative decline from a top 5 DEX to 17th by trade volume and a decline in token price to essentially a flat line since mid 2022.” SushiSwap community discussion The authors of...

The Internal Revenue Service (IRS) has announced the extension of the period for comments on crypto tax reporting requirements until January 25, 2024. The proposed rule, published on Oct. 19, aims to implement the provisions of the American Families Plan Act of 2023, signed into law by President Joe Biden in August. The rule would require crypto exchanges and other intermediaries to report information on transactions involving digital assets worth more than $10,000 to the IRS and the taxpayers. The rule would also require crypto businesses to verify the identity of their customers and maintain records of their transactions. The rule is intended to enhance tax compliance and transparency in the crypto sector and prevent money laundering and other illicit activities. You might also like: Coinbase’s tax chief urges IRS to reevaluate crypto tax regulations However, the rule has also sparked criticism and concerns from the crypto industry and advocates, who argue that it is o...

Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. In today’s evolving crypto landscape, there’s a vast range of opportunities intertwined with complex challenges. Navigating the turbulent waters of the still-nascent crypto and defi market demands that even the most seasoned traders be hypervigilant. But when given the right tools, traders of all experience levels can survive this bear cycle and be well-positioned for a market rebound.  You might also like: Bitcoin dominance surges. Will the BTC price go up? Understanding common scams to stay clear of The crypto realm is a double-edged sword, offering both lucrative opportunities and risky pitfalls. Among the most common scams is phishing on Telegram, where fraudsters use malicious links that may drain wallets or upload malware onto the user’s device. Traders often frequent Telegram and Discord groups to beat the mark...

Base Bootcamp will offer students weekly meetings with a mentor, a dedicated Discord server, and access to Coinbase and Base engineers, the team stated. On October 20, the team behind Ethereum layer-2 Base network announced that it's launching an eight -week training course to turn traditional software developers into blockchain developers . Called “Base Bootcamp,” the new program doesn't cost anything to attend. However, it's designed for “mid to senior level Software Engineering individual contributors” and students must fill out an application and be accepted to enroll. Less than 20 students will be accepted into each “cohort” or class, and the team will stop accepting applications on October 27, the announcement stated. Introducing Base Bootcamp, an eight-week program designed to turn experienced developers into smart contract developers Base Bootcamp will make learning interactive and collaborative, with support from experienced engineers and dedicated mentorshtt...

Real-estate-backed stablecoin USDR fell to $0.53 per coin on Oct. 11, but the team said it was merely a liquidity issue and that real estate holdings and digital assets will be used to support redemptions. Real estate-backed stablecoin USDR lost its peg to the U.S. dollar after a rush of redemptions caused a draining of liquid assets such as Dai (DAI) from its treasury, its project team has revealed.  USDR — backed by a mixture of cryptocurrencies and real-estate holdings — is issued by Tangible protocol, a decentralized finance project that seeks to tokenize housing and other real-world assets. USDR is mostly traded on the Pearl decentralized exchange (DEX), which runs on Polygon. An update on $USDR Over a short period of time, all of the liquid $DAI from the $USDR treasury was redeemed. This lead to an accelerated drawdown in the market cap. Combined with the lack of DAI for redemptions, panic selling ensued, causing a depeg . We’re working on… — Tangible (@tangibleDAO) October 11...

Post.Tech is a SocialFi/DeFi platform that offers a mix of social media and financial opportunities for users. The platform allows users to tokenize their profiles and posts, buy and sell shares of social profiles, and engage in rewarding activities through an airdrop campaign. It is the latest adversary to DeFi platform Friend.tech. Here’s everything you need to know about the new and rapidly growing SocialFi/DeFi platform Post.Tech, explaining what it is and how it works. Post.Tech Explained: What is it? Post.Tech is a new platform and competitor to Friend.Tech in the SocialFi space. It blends elements of social networking with decentralized finance (DeFi). In doing this, it offers users social and financial opportunities with solid rewards. The platform is on the Arbitrum network. It Features an array of innovative functions such as allowing users to buy and sell shares of social profiles, engage in private channel discussions, and even tease the concept of m...

Taiwan is moving forward with plans to regulate the crypto industry by proposing a draft special law for first reading by the end of November, according to a lawmaker. Yung-Chang Chiang, a member of Taiwan’s parliament, said in an interview with The Block published on October 6 that a dedicated crypto asset act is necessary to oversee crypto firms, arguing that crypto diverges from traditional finance and requires tailored oversight. Chiang held a public hearing to discuss a draft proposal for the law. It would require all crypto platforms operating in Taiwan to obtain a permit from regulators. Without a permit, regulators could order them to cease operations. You might also like: Taiwan tightens crypto rules with new guidelines and industry group Currently, Taiwan only requires virtual asset service providers to comply with anti-money laundering laws. The rest of the crypto industry remains largely unregulated. Chiang said many crypto platforms are still not d...

The platform notified its community on Sept. 19 at 11:49 pm UTC, urging users to not interact with Balancer's protocol until further notice. Balancer, an Ethereum-based decentralized finance protocol has confirmed its user interface is currently "under an attack ." The platform notified its community on Sept. 19 at 11:49 pm UTC, urging users to not interact with Balancer's protocol until further notice. The balancer frontend is under an attack . The issue is currently under investigation. Please do NOT interact with the balancer UI until further notice! — Balancer (@Balancer) September 19, 2023 Balancer said the details of the attack are under investigation. The firm hasn't confirmed whether user funds are safe at this point in time. However, one blockchain analyst, ZachXBT claims $238,000 was stolen within the first 30 minutes of Balancer breaking the news. Stolen funds are being directed to this address 0x645710Af050E26bB96e295bdfB75B4a878088d7E ~$238k ...

The competition among zk-Rollup-based scaling solutions is tightening while the security tokens market continues steadily. The news surrounding BlackRock’s application for a spot Bitcoin (BTC) exchange-traded fund (EFT) sent the asset’s price from its local lows in mid-June to a strong monthly close of +12%. To most observers, this was a sign that institutional investment into the cryptosphere is once again on the horizon. A future approval of a spot ETF combined with rate cuts from the United States Federal Reserve could provide the ideal catalysts for the next bull run. For those keen to gain a deeper understanding of the crypto space’s various sectors and their fundamental trends, Cointelegraph Research publishes its monthly “Investor Insights Report,” which dives into venture capital, derivatives, decentralized finance (DeFi), regulation and much more. This month, Cointelegraph Research examined how various sectors reacted to the bullish news surrounding BlackRock’s ETF filing wit...

Martin El-Khouri, a senior director at Bertelsmann Investments, spoke with Cointelegraph at the Proof of Talk conference on the state of VC investments in Web3. The crypto space has been facing waves of uncertainty in recent months between impending regulations from regulators across the world and a lingering market downturn.  Despite the state of the industry investors are still backing new ventures in the space. Data shows that in 2022 alone, European DeFi startups experienced an increase in venture capital (VC) funding by up to 120%. Cointelegraph spoke with Martin El-Khouri, a senior director at Bertelsmann Investments, during the Proof of Talk blockchain conference about why major investment firms still see Web3 as a way forward. Proof of Talk 2023 blockchain conference in Paris. Source: Cointelegraph Bertelsmann Investments is one of the world's major VC invest ment firms with around 1.7 billion euro invest ed in over 400 companies worldwide. El-Khouri told Cointelegraph th...

The Origin Ether app deposits Ether into Curve, Convex, stETH, rETH and sfrxETH. A new yield farming app called Origin Ether has accumulated over $12 million in total value locked (TVL) just 14 days after launch , according to data from blockchain analytics platform DefiLlama. TVL is a metric that measures the dollar value of assets inside an app’s smart contracts. Origin Ether total value locked, May 9-30. Source: DefiLlama The app was launch ed on May 16, according to a representative from the development team. DefiLlama data shows the app already had $793,000 locked inside its contracts before the launch , which team members or other early partners may have supplied. Once the public launch occurred on May 16, deposits to Origin Ether (OETH) rapidly accumulated, leading to a TVL of over $13 million by May 30. This is a gain of approximately $12.6 million over 14 days. According to the app’s official documentation, Origin Ether generates yield from Ether (ETH) by depositing it int...

Discover nine tech-focused YouTube channels covering topics such as programming, machine learning, cybersecurity, blockchain and Web3. Learning tech via YouTube channels can be a great way to supplement traditional learning methods, as it provides a more interactive and engaging experience. Many YouTube channels dedicated to tech provide in-depth tutorials and explanations of complex concepts in a way that is easy to understand, making it accessible to learners of all skill levels. Additionally, YouTube channels often provide access to industry experts, giving learners the opportunity to learn from individuals with real-world experience and knowledge. For instance, Cointelegraph’s YouTube channel provides news, interviews and Analysis on the latest developments in the cryptocurrency and Blockchain industries. The channel ’s content is well-produced and Features engaging visuals, making it an accessible and entertaining way to learn about these topics. Here are nine other YouTube c...

The analytics firm backed up its prediction, stating only 253 validators have signed up to fully exit their staked Ether position. An estimated 170,000 Ether (ETH) of the total 18.1 million ETH staked on the Beacon Chain will be unlocked within the first week of the Shanghai hard fork being executed on Ethereum, Glassnode has predicted. The figure comprises 100,000 Ether ($190 million) worth of staking rewards and 70,000 ETH worth of staked Ether ($133 million) the on-chain intelligence platform predicted in its April 11 report. Glassnode backed up its prediction by explaining that only 253 depositors are waiting to exit their stake and that a few mechanisms are in place to prevent a flood of Ether supply from hitting the market all at once. The highly anticipated Shanghai/Capella hard fork is scheduled to take place on 12-April-2023, enabling the withdrawal of staked #Ethereum. In this extended edition of the Week On-Chain, we shall evaluate the overall Ethereum staking landscape, de...

The BRC-20 token standard utilizes Ordinal inscriptions to deploy token contracts, mint tokens, and transfer tokens. A new daily all-time high (ATH) has been recorded for the number of Ordinals inscribed on the Bitcoin (BTC) network due to a recently launched “token standard” for the blockchain. Bitcoin Ordinals reached 58,179 inscriptions on April 2, smashing the previous all-time high (ATH) of 31,692 on March 9 by 83.5% according to Dune Analytics data. The surge is believed to be driven by the recent creation of " Bitcoin Request for Comment" (BRC-20) Tokens on the Ordinals protocol by a pseudonymous on-chain analyst named Domo in early March. Daily count of Ordinals inscriptions shown in green. Source: Dune Analytics While Ordinals are nonfungible token (NFT)-like “digital artifacts” which carry data in the form of text, JPEG images, PDFs, video and audio formats on the Bitcoin network, the BRC-20 token standard utilizes Ordinal inscriptions to deploy token contracts, m...

DeFi suffered its biggest attack this year with a flash loan attack on crypto lending platform Euler Finance and the hackers are belived to be same that exploited a BSC based protocol in February. Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week. The DeFi ecosystem was once again an exploiter’s paradise this past week as lending protocol Euler Finance fell victim to a flash loan attack resulting in a net loss of over $196 million — the biggest hack of 2023 so far. Apart from the Euler Finance saga, USD Coin (USDC) depegging was the most significant event dominating last week’s headlines. Due to the collapse of Silicon Valley Bank, investors loaded their bags with USDC, along with an exodus of funds from centralized exchanges (CEXs) and decentralized exchanges (DEXs). MakerDAO introduced an emergency proposal to increase its holdings of United States Treasur...