Cryptocurrency Analysis and News Portal
According to a new post by Acala Network co-founder Bette Chen, the community has voted to burn 2.97 billion worth of Acala USD (aUSD) stablecoin.Acala is a decentralized finance platform built on the Polkadot (DOT) ecosystem. The week prior, the price of aUSD fell to less than $0.01 from its
Read More
The crypto market has now been put under another challenge. In the past day, bitcoin prices have dropped about $2,000, which has seen the crypto market lose a significant amount of value. As it now stands, the crypto market cap is down more than $100 billion and is now dangerously
Read More
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.This past week, Celsius’s financial troubles mounted further as a new coin report showed the company had a balance gap of $2.85 billion, more than
Read More
The total value locked (TVL) in decentralized finance (defi) has slid 8.53% over the last five days since August 14, 2022. At the time, the TVL was $67.87 billion but today, the value locked in defi is approximately $62.08 billion. Moreover, the top smart contract platform tokens by market valuation
Read More
After incurring a number of impairment losses brought on by the decline in cryptocurrency prices, the three biggest US publicly traded Bitcoin mining companies lost more than US$1 billion in the second quarter. Bitcoin Miners In Deep Red In the three months that ended June 30, Core Scientific Inc., Marathon Digital Holdings
Read More
The market capitalization of Tether (USDT) tokens has increased by nearly $2 billion since the U.S. Treasury Department imposed sanctions on cryptocurrency mixer Tornado Cash.The Office of Foreign Asset Control essentially barred Americans from using Tornado Cash on Aug. 8, blacklisting 44 USD Coin (USDC) and Ether (ETH) addresses connected
Read More
Galaxy Digital Holdings and the company’s CEO and founder Mike Novogratz announced the company has “exercised its right to terminate” a previously announced acquisition of Bitgo. According to Galaxy the termination of the deal was due to Bitgo’s “failure to deliver” audited financial statements for 2021. Galaxy Ends Deal With the
Read More
A new bankruptcy coin report filed on Sunday shows that troubled crypto lender Celsius’ actual debt stands at $2.85 billion against their bankruptcy filing claims of a $1.2 billion deficit.The latest report shows that the company has net liabilities worth $6.6 billion and total assets under management at $3.8 billion.
Read More
A bug in the protocol’s newly-deployed iBTC-aUSD liquidity pool left the door wide open for hackers to exploit. Source
Read More
After recording more than $4 billion in all-time sales, Axie Infinity announced the game’s classic mode will no longer allow users to obtain smooth love potion (SLP), as SLP rewards have been added to the new Origin ranked gameplay mode. The team also introduced non-fungible token (NFT) runes and charms
Read More