DeFi Sparks New Investments Despite Turbulent Market: Finance Redefined
The prolonged crypto winter aided by the collapse of FTX has kept investors from backing a new protocol that merges DeFi and the foreign exchange market. A new Cosmos blockchain-based DeFi protocol has caught the eyes of investors who have put $10 million behind the project.
Cardano DeFi Project Ardana Halts Development, Citing Funding, Timeline Concerns
Ardana (DANA), a once-promising decentralized finance project built on perennial top-ten proof-of-stake blockchain Cardano (ADA) has halted development. The project cited “funding and project timeline uncertainty” as the reason for ceasing operations, in a tweet addressed to the Ardana community yesterday. (Coindesk)
Leading Cardano Stablecoin Project Shuts Down After Excruciating Launch Delays
On Nov. 24, Ardana, a leading decentralized finance (DeFi) and stablecoin ecosystem building on Cardano (ADA), abruptly <a href="https://twitter.com/ArdanaProject/status/1595594077260709888" target="_blank">halted</a> development, citing "funding and project timeline uncertainty." The project will remain open-source for builders while treasury balances and remaining funds will be held by Ardana Labs "until another competent dev team in the community comes forward to continue our work."
Solana Jumps 9% in 24 Hours To Lead Top 100 Crypto Pack by Gains
The <a href="https://finbold.com/category/cryptocurrency-news/">cryptocurrency market</a> is making shy progress after weeks of being caught in the turmoil that followed the collapse of <a href="https://finbold.com/review/ftx-review/">FTX</a>, once among the largest <a href="https://finbold.com/guide/best-cryptocurrency-trading-platforms/">crypto exchanges</a> in the world, with Solana (<a href="https://finbold.com/cryptocurrency/solana/">SOL</a>) leading the recovery.
Crypto has Survived Worse Than the Fall of FTX: Chainalysis
In a Nov. 23 Twitter thread, Chainalysis’ research lead Eric Jardine began his comparison by first looking at the market share of the two firms, finding that Mt. Gox averaged 46% of all exchange inflows in the year leading up to its collapse in 2014, compared to FTX’s average of 13%, which operated from 2019 to 2022. (Cointelegraph.)
Buenbit Users Access Everyday DeFi From the Rootstock-Based RIF Suite
IOV Labs and Buenbit have teamed up to provide its users access to the Rootstock as well as RIF ecosystem. Buenbit users would be able to access the services and goods from Everyday DeFi which are protected by the Bitcoin network.
DeFi Is the New Wave of Financial Technology
The world of finance is changing. With the advent of blockchain technology and decentralized finance, the traditional financial system is no longer as secure as it once was.
How to Bring New Sustainability and Stability to the DeFi Lending Ecosystem
Market manipulators are crushing retail investors on a regular basis, this must be stopped.
Bank of England Warned Consumers About Risks of Using Decentralized Finance Protocols
Bank of England (BoE), the UK’s central bank, warned consumers about the risks of using decentralized finance (<a target="_blank" href="https://cryptonews.com/tags/defi">DeFi</a>) protocols shortly after the crypto exchange FTX collapsed. The warning from the central bank was given in a <a target="_blank" href="https://www.bankofengland.co.uk/speech/2022/november/-/media/8331cfac3f284b4c94567d24912b0bba.ashx">speech</a> by Deputy Governor of the Bank of England, Jon Cunliffe. According to Cunliffe, there are three reasons why it is essential to regulate crypto-related activities now.
MakerDAO Launches LSD Token of Rocket Pool
MakerDAO, a DeFi protocol, has accepted the LSD token of Rocket Pool. This deal might elevate the competition for the giant Lido, MakerDAO. Users can use the token, rETH, to mint the stablecoin of Maker’s DAI.
