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DeFi
DeFi, short for decentralized finance, represents a shift in the financial sector by leveraging blockchain technology, primarily Ethereum, to eliminate traditional financial intermediaries. It enables various financial applications, from simple transactions to complex contracts, through smart contracts that execute automatically under specific conditions. Key DeFi applications include decentralized exchanges (DEXs), stablecoins, lending platforms, and prediction markets. DeFi offers financial services like loans and interest-earning opportunities without traditional identity verification, relying instead on collateral, usually in cryptocurrency. This innovative sector promises increased accessibility and efficiency but comes with risks, such as market volatility and unregulated projects.
Fed Expected to Hike Rates by 75 Basis Points This Week
The Federal Reserve is expected to increase its interest rate by 75 basis points to combat rising inflation. Injective Labs CEO Eric Chen discusses the current "risk-off mode" in the crypto markets and the potential impact of macro headwinds on price action. Plus, the state of DeFi amid crisis in crypto lending.
Meme Coin Teddy Doge 'Soft' Rug Pulls $4.5M Worth of Tokens, PeckShield Says
Prices of the TEDDY token fell some 99.7% in the past 24 hours.
How Attackers Stole Around $1.1M Worth of Tokens From Decentralized Music Project Audius
The sophisticated exploit involved attackers passing a malicious governance proposal by exploiting smart contracts.
Crypto Sectors That Have Been Most and Least Impacted by Macro Headwinds
As bitcoin surpasses $23,000, CoinDesk Indices Managing Director Jodie Gunzberg discusses her crypto markets analysis and outlook. Gunzberg points out that the culture and entertainment sector seems to be moving independently from the rest of the market despite the crypto downturn, while the DeFi sector has been impacted by macro headwinds the most.
DeFi Incubator Cumberland Lab Comes Out of Stealth Mode
The growing Singapore-based Web3 lab will have 25 staffers by week's end.
The Credit Crunch Is Not the End of Crypto Lending
It is a mistake to view bitcoin’s success as a trade-off against the creation of credit. Its future depends on it, says our columnist, a partner at Castle Island Ventures.
THORChain Phases Out Support for Rune Tokens on Ethereum, BNB Chain
The move comes weeks after THORChain’s native blockchain went live on seven supported networks.
CeFi Broke. But DeFi Is Not Without Blame
It’s dangerous to simply throw all the blame for the current round of market mayhem at centralized lenders. Work is needed to bring security and stability to DeFi, says CoinDesk's chief content officer.
