Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. Over two weeks after Curve Finance’s multiple pool exploits, the DeFi protocol has assured the hack victims that it is assessing each impacted user for reimbursement. This comes after the exploiter returned…
DappRadar has pointed to an “alarming plunge” in Bitcoin Ordinals nonfungible token user activity, with trading volumes tanking around a whopping 98% since May. In an Aug. 17 report, DappRadar highlighted its data showing that the total Bitcoin Ordinals sales volume had decreased from peak levels of $452 million in May to roughly $3 million as of Aug. 14. In…
Bored Ape Yacht Club (BAYC) creators Yuga Labs is set to wind down support for OpenSea following the platform’s upcoming removal of its on-chain royalty enforcement tool Operator Filter. The Operator Filter was launched in November 2022, essentially enabling creators to restrict secondary nonfungible token sales only to marketplaces that enforce creator royalties, thus filtering out platforms like Blur. However,…
Evan Luthra says Bitget froze his account in April. The exchange claims it was done on suspicions of market manipulation related to the sale of REELT tokens. Source: https://cointelegraph.com/public/index.php/news/bitget-faces-lawsuit-influencer-reelstar-token
Mark Cuban and Bored Ape Yacht Club creator Yuga Labs were among the major players speaking out Friday against NFT trading platform OpenSea, over the company’s Thursday announcement that it intends to sunset enforcement of creator royalties. “Not collecting and paying royalties on NFT sales is a HUGE mistake by OpenSea,” Cuban, the billionaire tech entrepreneur, wrote on Twitter Friday. “It…
Bitcoin had been sitting relatively still for weeks until yesterday, when it quickly dropped to lows not seen in two months. The largest cryptocurrency by market cap at the time of writing was trading for $26,060 per coin, CoinGecko data shows, marking an over 11% dip in the past seven days. It’s still up from the lowest point it touched…
Popular gaming platform Roblox has been accused of allowing and enabling minors to gamble with its in-game currency—called Robux—on third-party gambling websites, a class-action lawsuit filed this week alleges. A law firm representing the frustrated parents behind the suit claims that Roblox is allowing third-party sites—namely, those operated by Satozuki, Studs, and RBLXWild—to “accept online bets using Robux,” Bloomberg Law reports.…
It’s been another week of mixed developments in the crypto industry, with established players winding down operations while newcomers introduce new crypto features and services. Binance’s buy-and-sell crypto arm was shut down on Aug.16, with the crypto exchange remaining under widespread regulatory scrutiny, affecting key partnerships for its operations worldwide. Crypto custodian Prime Trust filed for bankruptcy protection following months…
As the bear market keeps slashing venture capital from the crypto industry, alternative funding options, such as grants, have been gaining traction as a means of supporting the community while enabling the growth of established projects in a challenging crypto environment. According to Blockchain Grants, at least 40 crypto projects are currently offering grants for developers working on Web3 solutions,…
Twitter owner Elon Musk shocked users of the social media platform on Friday by announcing plans to remove the ability to block other users—a decision that has not found many prominent supporters so far. “Block is going to be deleted as a ‘feature,’ except for DMs,” Musk said, adding that he thinks the feature “makes no sense.” The news came…
