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.


Markets

DeFi Protocols Are Winning Users as Centralized Crypto Exchanges Suffer Ether Outflows

In the wake of the downfall of Sam Bankman-Fried’s FTX exchange, crypto traders are increasingly turning toward decentralized-finance (DeFi) protocols – as Ethereum tokens flow off big centralized crypto exchanges like Binance and OKX.

(Getty Images)

Opinion

Understanding the Tax Implications of NFTs, Staking and Yield Farming

Individuals and institutions should carefully consider their tax obligations and, in the absence of official guidance, consult tax professionals or take the most conservative approach to avoid costly future audits.

(Kelly Sikkema/Unsplash, modified by CoinDesk)

Learn

What Are DeFi Tokens?

Decentralized finance tokens provide crypto users with access to a number of bank-like services such as loans, lending and insurance.

Crypto Currency Finance Technology. DeFi Speech Bubble Announcement (Andrey Popov/Getty Images/iStockphoto)

Tech

FTX Accounts Drainer Swaps Millions in Stolen Crypto, Becomes 35th-Largest Ether Holder

The funds were converted to DAI stablecoins and bridged to the Ethereum network.

(Adam Levine/CoinDesk)

Finance

Solana DeFi Sees Almost $700M in Value Wiped Out on FTX Fallout

FTX founder Sam Bankman-Fried was a prominent backer of the network.

Solana Hacker House en Miami, abril del 2022. (Danny Nelson/CoinDesk)

Finance

Crypto Lender BlockFi Updates Users on Platform, FTX Exposure

The company denied rumors that a majority of its assets are custodied at collapsed crypto exchange FTX.

Zac Prince, CEO de BlockFi, en Consensus 2019. (CoinDesk)

Opinion

FTX Showed the Problems of Centralized Finance, and Proved the Need for DeFi

The meltdown of Sam Bankman-Fried's crypto trading empire could not, and would not, have happened to a decentralized and transparent protocol.

Former FTX CEO Sam Bankman-Fried in the Bahamas (Danny Nelson/CoinDesk)

Tech

DeFi Exchange Platform dYdX Places Solana in 'Close Only' Mode

The move comes after Solana has plummeted 40% in 24 hours due to its link with the beleaguered Sam Bankman-Fried empire.

(Shutterstock)

Markets

Liquidity Crunch Spreads to Crypto Lending as Institutional Borrowers Max Out Credit Pools

Multiple crypto investment firms received a “warning” label on lending protocol Clearpool for draining almost the maximum amount of credit from their credit pools.

Several crypto investment firms drained almost all of their available credit from their credit pools on Clearpool. (Clearpool)

Finance

Wintermute-Backed DEX Bebop Launches on Polygon

Bebop, which is incubated by crypto market-maker Wintermute, first launched on the Ethereum blockchain this past June.

Evgeny Gaevoy, Wintermute CEO (Danny Nelson/CoinDesk)