Tag: loss

Loopscale Suffers $5.8 Million Loss in Solana DeFi Exploit

Loopscale Suffers $5.8 Million Loss in Solana DeFi Exploit

Loopscale, a Solana-based lending protocol had a recent security exploit. This unfortunate event resulted in a loss of $5.8 million, representing 12% of its total value locked (TVL). The platform, formerly known as Bridgesplit, officially went live on April 10. Unfortunately, it then became the target of a very sophisticated...

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DeFi Sector Surges Amidst SEC's Positive Signals and ETF Inflows

DeFi Sector Surges Amidst SEC's Positive Signals and ETF Inflows

The decentralized finance (DeFi) space is exploding. Positive signals from the Securities and Exchange Commission (SEC) and large inflows into Ethereum ETFs are stoking this momentum. The overall market capitalization of the DeFi sector has increased by 10% to $150 billion. In addition, it’s a sign of increasing investor confidence...

SEC Embraces DeFi with "Innovation Exemption," Igniting Hope Among U.S. Developers

SEC Embraces DeFi with "Innovation Exemption," Igniting Hope Among U.S. Developers

In short, the U.S. Securities and Exchange Commission (SEC) appears to be laying the groundwork for a new, more contentious approach to decentralized finance (DeFi). On June 9th, the agency held the bizarrely named roundtable “DeFi and the American Spirit.” SEC Chairman Paul Atkins just yesterday offered up the thrilling,...

SEC Chair Advocates "Innovation Exemption" for DeFi Platforms

SEC Chair Advocates "Innovation Exemption" for DeFi Platforms

U.S. Securities and Exchange Commission (SEC) Chairman Paul Atkins has been pushing the Commission to adopt these new rules. In particular, he seeks to exclude decentralized finance (DeFi) platforms from certain regulatory impediments. Atkins has directed SEC staff to look into creating some sort of “innovation exemption.” It would allow...

Vaultro's $VLT Presale Gains Momentum as XRP Surges Past $2.50

Vaultro's $VLT Presale Gains Momentum as XRP Surges Past $2.50

Vaultro Finance’s $VLT token presale is taking the XRP Ledger (XRPL) ecosystem by storm. In fact, it’s accomplished 10% of its softcap already just days after its public debut! This milestone coincides with XRP's significant price surge, officially crossing the $2.50 mark and injecting bullish sentiment into the market. Vaultro...

Aave's Onchain Value Surges to $40 Billion, Marking a New Milestone

Aave's Onchain Value Surges to $40 Billion, Marking a New Milestone

Aave, the decentralized finance (DeFi) lending platform, hit a new milestone! It has now notched an impressive $40 billion total value locked onchain. That’s a historic jump, up an astounding 60% from just last month. It pretty much plants Aave’s flag even more strongly into the DeFi landscape. The increase...

Solana Presale Nears Completion Amidst Market Recovery

Solana Presale Nears Completion Amidst Market Recovery

Now Solana, one of the top blockchain platforms, is nearing the close of its $56 million presale. On the whole, it has already sold successfully 91.60% of its tokens! This milestone is a positive sign of investor confidence in Solana’s long-term recovery from the technical challenges it experienced throughout 2023....

Web3 AI's Presale Gains Momentum as Avalanche Faces Price Pressure

Web3 AI's Presale Gains Momentum as Avalanche Faces Price Pressure

Web3 AI has everyone in the crypto world buzzing. Its suite of AI-powered tools and a very successful presale that has already raised over $2.5 million! The platform’s proactive Scam Detector is receiving major accolades for protecting investors from fraud. At the same time, Avalanche (AVAX) suffers one of the...

UK Unveils Draft Crypto Rules Aiming for Global Hub Status

UK Unveils Draft Crypto Rules Aiming for Global Hub Status

The United Kingdom recently published draft regulations. These regulations are intended to establish the country’s standing as a worldwide leader in digital assets. These new rules will require non-UK platforms offering services to UK retail clients to get authorized by the Financial Conduct Authority (FCA). Further, UK-issued, fiat-backed tokens will...