Andrew Tate deposited $727,000 into Hyperliquid over the previous 12 months, took no withdrawals, and misplaced the whole stack by way of a relentless collection of leveraged liquidations that culminated on Nov. 18, when his account hit zero. Per Arkham’s on-chain ledger, even the roughly $75,000 in referral commissions Tate earned from bringing merchants onto…
For greater than a decade, the DeFi sector has operated on a fractured promise. The theoretical pitch of a fairer, extra accessible international monetary system has constantly crashed in opposition to the rocks of sensible actuality. In follow, DeFi has delivered a consumer expertise outlined by hostility of complicated interfaces, punitive gasoline charges, dangerous workflows,…
Four days after Uniswap Labs and the Uniswap Foundation proposed merging their operations and activating the long-awaited charge swap, a X spat between the protocol’s founder and Gary Gensler’s former chief of workers reopened wounds that the crypto business thought had healed. The change wasn’t nearly a governance vote, it was a proxy struggle for…
When Chainlink briefly appeared on a DTCC reference listing, the crypto business jumped to say a “LINK ETF confirmed.” In actuality, similar to with XRP and Bitcoin, this was only a routine DTCC plumbing replace, making ready for potential ETFs lengthy earlier than the SEC indicators off. LINK had made it into the settlement system,…
Ethereum co-founder Vitalik Buterin says decentralized finance (DeFi) has reached a turning level, one the place on-chain financial savings usually are not solely viable however starting to rival conventional banks. Speaking in a pre-recorded handle at a Dromos Labs occasion on Wednesday, Buterin mentioned he’s “inspired” by how far DeFi on Ethereum has come by…
Crypto has spent years constructing yield infrastructure, comparable to staking on Ethereum and Solana, yield-bearing stablecoins, DeFi lending protocols, and tokenized Treasuries. The pipes exist already, the APYs are reside, but solely 8% to 11% of the overall crypto market generates yield right now, in comparison with 55% to 65% of conventional monetary (TradFi) belongings,…
It might be labeled as crypto’s November Nightmare. DeFi protocol Balancer was exploited to the tune of $128 million. Also, Stream Finance introduced a lack of $93 million, resulting in the depegging of its xUSD stablecoin. Both occurred on November 3. Decentralized finance is inclined to dangers, which might cascade into additional systemic issues. And…
BNY Mellon simply joined Citi, Bernstein, and a refrain of Wall Street analysts calling for as much as $3.6 trillion of digital money by 2030. The wager is that stablecoins and tokenized deposits will turn out to be core market plumbing, changing correspondent banking friction and lubricating company treasury operations. The query: does that world…
When Uniswap’s directors filed their “UNIfication” proposal on Nov. 10, it learn much less like a protocol replace and extra like a company overhaul. The plan would activate dormant protocol charges, channel them by way of a brand new on-chain treasury engine, and make the most of the proceeds to buy and burn UNI tokens….
In crypto, MEV usually refers to bots and searchers on chains like Ethereum reordering, inserting, or censoring transactions round DEX trades and liquidations to extract worth from customers within the type of worse costs, failed transactions, and better prices. However, do you know that Bitcoin additionally has MEV-like dynamics on the mempool and coverage layer?…