Crypto Lender Celsius Files for Bankruptcy Protection
Celsius, the crypto lender that last month halted withdrawals, has filed for Chapter 11 bankruptcy protection, the company said in a press release. User withdrawals will remain halted.
Ethereum Founder Vitalik Buterin Defends Algo-Stables
Ethereum inventor Vitalik Buterin said that algorithmic stablecoins should be scrutinized according to how they fare under extreme market conditions, and whether they can safely wind down when hype falls away. Despite the recent collapse of UST and LUNA, which knocked UST from its $1 peg and wiped billions from the market, Buterin argued in …
Seth Green Could Air TV Show Without Stolen Ape, Lawyer Says
A hacker stole Seth Green’s Bored Ape just weeks before the NFT was set to star in a TV show the Family Guy actor had written about the JPEG. But the show could air even if Green can’t get it back, Jordan Teague, co-founder of web3 law firm The Antifirm, told The Defiant. Green said …
Terra Founder Faces Government Investigations, Lawsuits, and $78M Fine for Tax Evasion
South Korean authorities have formed an emergency financial crimes unit to investigate the collapse of stablecoin protocol Terra, and fined the protocol’s founder, Do Kwon, $78M for tax evasion, local media reported. The government agencies want to understand why UST, Terra’s US dollar stablecoin, lost its peg on May 9. The crash wiped $18 billion …
Yearn Creator Andre Cronje Slams Crypto Culture, Pivots To ‘Regulated Crypto’
DeFi developer Andre Cronje now seeks to embrace regulation of the industry.
Terra and Fantom Are Pumping Even as DeFi TVL and Ethereum Burn Rate Drag
Terra and Fantom have rebounded in the last seven days but overall DeFi TVL’s uptick is modest.
Ukraine Cancels Historic Airdrop to Aid Embattled Citizens and Opts for NFTs
Ukraine has announced an airdrop for crypto users who donate funds towards its defense efforts.
Solidex Rockets to $2.18B in TVL Within Days Of Launch
Solidex, a new yield optimizer on Fantom, has crossed $2.1B in Total Value Locked.
What the History of Democracy Can Teach Us About Blockchain Governance
Prof. Andrew Hall writes that democracy provides a fitting template for solving some of thornier governance problems in DAOs.
How Friends With Benefits Uses Utopia to Manage Contributor Payroll
DAOs have cash – a recent Consensys report used data from Open-Orgs to estimate that DAOs have more than $14B in their collective treasuries – but they don’t have great methods for paying people in crypto-native ways. Enter Utopia.
The Defiant Terminal is Coming: Join the Waitlist
We’re excited. We’re getting ready to launch The Defiant Terminal, a platform for investors and analysts to track all DeFi data in one place. Join the waitlist today to be notified as soon as it’s live. You’ll want to be the first to get your eyes on that alpha. The Defiant is devoted to being …
SocGen Wants To Borrow 20M Dai on MakerDAO Using Tokenized Bonds as Collateral
There’s a meme on crypto Twitter that calls DeFi the “future of France” as a play on the phrase the future of finance. Well, there may be more truth to the meme than many expected. Société Générale, the third-largest bank in France, has proposed to borrow Dai in MakerDAO using bonds it issued on the …
Startup Uses Facebook Approach to Build Social Network for NFT Collectors
In Facebook’s early days, it famously limited membership to students in colleges and universities, opening a few at a time. Hyype, a new social network for NFT collectors, plans a similar approach but Discord server by Discord server rather than school by school. To that end, Hyype today announced a $1.5M seed round from Electric …
DeFi is Getting Into Everything
Crypto isn’t just about simple financial tools anymore. Any project can be a DeFi project. Here’s how. The current crypto bear run is finally seeing a few flecks of green, but some still believe that plunging through multiple death crosses puts us firmly in bear territory. Others believe we have already hit rock bottom and …