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Defi for Dummies

Uniswap to Raise 0 Million in New Funding Round

Uniswap to Raise $100 Million in New Funding Round

Uniswap Labs – the firm behind one of the world’s largest decentralized exchanges, Uniswap – is looking to raise a massive $100M fund in its latest funding round. This round follows Uniswap’s previous Series A funding in 2020. American online newspaper TechCrunch uncovered the development in a report Friday. According to the report, TechCrunch received intel from …

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GMX DEX Reportedly Suffers 5,000 Exploit

GMX DEX Reportedly Suffers $565,000 Exploit

In Brief GMX, a DEX specializing in futures and perpetual futures, has been allegedly hacked. PeckShield earlier estimated losses of $565,000, but the Tweet has since been deleted. Some industry players believe that GMX’s minimal spreads and low price impact for trading could open it up to exploitation. Decentralized exchange (DEX) GMX allegedly experiences price …

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Yuga Labs Hires Chief Gaming Officer to Further Web3 Gaming Push

Yuga Labs Hires Chief Gaming Officer to Further Web3 Gaming Push

Yuga Labs has hired Spencer Tucker as its first Chief Gaming Officer, the company behind the Bored Ape Yacht Club NFT collection announced Friday. At Yuga, Tucker will supervise the development of the firm’s Web3 gaming projects, starting with Yuga’s “Otherside” metaverse. Earlier this year, Otherside made waves on Ethereum when it saw a massive surge of transactions and $561 million worth of NFT land sales within …

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Why it Matters for Ethereum Health That Lido Thrives as a Censorship-Resistant Entity

Why it Matters for Ethereum Health That Lido Thrives as a Censorship-Resistant Entity

With Ethereum’s Merge due to happen tomorrow, new research from analytics firm Nansen has revealed that 64% of all ETH staked in the platform’s Beacon Chain is controlled by only five entities. Of the big five, Lido leads the way with 31% of all staked ETH, while centralized exchanges Coinbase, Kraken and Binance control a combined total …

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Two Sigma Ventures raises 0 million across two funds

Two Sigma Ventures raises $400 million across two funds

QUICK TAKE The venture arm of Two Sigma closed two funds that totaled over $400 million. Two Sigma Ventures invests in early-stage crypto and DeFi firms, as well as other startups that use data and technology for social advancement. Two Sigma Ventures, a venture firm focused on early-stage companies, announced Wednesday that it raised $400 …

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Vulnerability report highlighted attack that could have taken down the Avalanche Network

The Block QUICK TAKE A vulnerability report was released highlighting an attack that could have taken down the entire Avalanche Network. The vulnerability has since been patched. A vulnerability report was released to the public earlier today highlighting an attack that could have taken down the entire Avalanche Network, one of the largest Layer 1 …

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How Will Decentralized Insurance Work?

How Will Decentralized Insurance Work?

How Will Decentralized Insurance Work? What is Decentralized Insurance?                                                      The decentralized finance (DeFi) market is  new and offers unlimited opportunities. Along with the excitement comes a number of risks in this fledgling field. A lack of regulation, bad actors and unstable systems can cause huge losses. However, a new industry has emerged that caters …

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Circle CEO says Binance decision to stop USDC support is good as it increases utility

Circle CEO Jeremy Allaire said Binance’s decision to convert its users’ USD Coin (USDC) holdings to its Binance USD (BUSD)stablecoin is good.   According to Allaire, the move would further increase USDC’s utility and “lead to a gradual net share shift from USDT to BUSD and USDC.” Allaire continued that FTX and Coinbase already use the Converged …

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DeFi Regulations: Where US regulators should draw the line

DeFi Regulations: Where US regulators should draw the line

The U.S Federal agency’s approach to the DeFi market has raised several concerns over the future of the industry: Experts weigh in on what’s the right approach. Decentralized finance (DeFi), one of the fastest growing ecosystems in the cryptocurrency market, has long been a dilemma for regulators, given the decentralized nature of the space. In …

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DeFi Protocol Aave Temporarily Freezes Ethereum (ETH) Borrowing Leading Up to the Merge

DeFi Protocol Aave Temporarily Freezes Ethereum (ETH) Borrowing Leading Up to the Merge

Leading decentralized finance (DeFi) protocol Aave has frozen Ethereum (ETH) borrowing as the leading smart contract platform prepares for the highly anticipated merge. Citing advice from analytics firm Block Analitica, a community proposal says that the Ethereum merge will present significant risks to the DeFi borrowing and lending markets. The proposal names three main risks that the …

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