DeFi News

Indicating that major financial players have not been scared away from cryptoassets by the ongoing market downturn, the Fairfax County Retirement Systems, a US pension fund with assets totaling USD 6.8bn, has unveiled it is looking to invest in crypto lending markets to ramp up its returns.

ConstitutionDAO, a decentralized autonomous organization (DAO) that was formed to pool funds in an effort to bid on a rare, first-edition printed copy of the US Constitution, has raised over USD 40m - two times more than the auction house Sotheby’s upper estimate.

High yield staking platform Bent Finance has confirmed that it has been attacked, advising investors to withdraw funds - becoming the sixth hacked decentralized finance (DeFi) platform we reported on this month alone.

The biggest decentralized finance (DeFi) hack, of interoperability protocol Poly Network, with roughly USD 600m stolen is not over just yet, as the attacker has not yet provided the final key of the multisignature wallet, stating that they will provide it "when everyone is ready." However, the attacker has been offered a significant position on the team.

The United States Treasury Department has sanctioned an ethereum (ETH) address that it says received coins stolen in the Ronin Validator hack – and the FBI has claimed that the North Korean Lazarus group of hackers was behind the security breach.

Crypto mixers – services that exist to increase the anonymity of crypto users – are more popular than ever, while illicit addresses account for 23% of funds sent to mixers so far this year, a new report from blockchain intelligence firm Chainalysis has found.

MKR increased more than 7% after a proposal was published by Societe Generale, asking to borrow stablecoins using a tokenized bond as collateral.

Despite “massive” opportunities for investment banks in the decentralized finance (DeFi) space, banks are not necessarily looking to build their own systems or alternatives to existing DeFi protocols, a head of corporate development at JPMorgan claims.

Microsoft is aiming to benefit from the rapid spread of hybrid work, looking to extend its presence within the social connection-focused virtual world to companies whose employees are working remotely. The company also seems determined to use its forthcoming acquisition of game developer Activision Blizzard to boost its metaverse assets.

Decentralized finance (DeFi) protocol Compound Finance faced more trouble as nearly USD 65m worth of COMP was dripped into the contract plagued by a bug.