Cryptocurrency Analysis and News Portal
On March 11, 2023, the decentralized finance project Makerdao issued an emergency proposal following the USDC depegging incident that saw the stablecoin dip down to $0.877 per unit. At the time of writing, Makerdao commands $3.1 billion in USDC collateral that backs a portion of the project’s stablecoin, DAI. Makerdao Proposes
Read More
Leading exchange Binance claims that the Forbes collateral report relates to its internal wallet management and is thus unfounded. Binance has hit back at the Forbes report that claims it quietly transferred $1.8 billion in client-backing collateral. According to the Forbes report, the prominent crypto exchange moved the stablecoin-backing funds without informing its customers.
Read More
According to the report, Binance transferred the collateral to hedge funds including Alameda and Cumberland/DRW and did so without informing its customers. According to blockchain data from Aug. 17 to early December examined by Forbes, a period which encompassed the collapse of fellow crypto exchange FTX, holders of more than
Read More
Lending protocol Venus has a total locked value of $800 billion as of Friday. The move is expected to benefit FLOKI holders, developers say, as they continue to build and seek out strategic partnerships that ultimately benefit the token’s value. Source
Read More
Major cryptocurrency exchange Binance reportedly admitted that it mistakenly stores some customer funds in the same wallet with its collateral for some in-house tokens. After the revelation, Binance started the process of transferring the assets in question to dedicated collateral wallets.Binance mistakenly put collateral for some of the Binance-minted tokens,
Read More
Binance, the world’s largest crypto exchange by trading volume, mistakenly kept collateral for some of the crypto assets it issues in the same wallet as funds belonging to its customers, Bloomberg reported, citing an unidentified Binance spokesperson. Source
Read More
The feature will be a major blessing for crypto investors trading in the leveraged markets as most crypto traders have to keep their collateral on the exchange for trading, however by using cold storage wallets users can continue to trade crypto during volatile sessions without massive outflows on an exchange. Source
Read More
Maple Finance, the largest unsecured crypto lending platform, is grappling with a debt crisis while gearing up for a major system upgrade. The project's MPL token has plunged, and depositors are likely to stomach big losses. Here's how it happened, and what comes next. Original Source
Read More
According to the CEO of Crypto.com, Kris Marszalek, his firm had recovered much of the $1 billion that had been sent to FTX when the crypto exchange collapsed. However, he acknowledged that at the time of FTX’s collapse, Crypto.com’s exposure to the crypto platform was below $10 million. Marszalek also
Read More
"Defaults are ordinary course in this asset class and critically important to refining risk parameters and pricing over time," Roshan Dharia, head of lending at Archblock, a core TrueFi contributor which oversees borrower relationships on the protocol, told CryptoX. "We have historically been heavily focused on borrower counterparty risk, asset
Read More