DeFi News

Ethereum (ETH)-powered decentralized finance (DeFi) project Cream Finance (CREAM) suffered another flash loan attack as the attacker reportedly stole more than USD 130m worth of tokens.

Lending protocol platform Vee Finance was a victim of an exploit a week after its mainnet launch, also seeing its VEE token plummet.

The protocol is now handling trading volumes comparable to some of the world’s largest centralized crypto exchanges.

France-based major manufacturer of crypto hardware wallet Ledger said it has "ambitious plans" in DeFi and other new services as it raised USD 380m, valuing the company at more than USD 1.5bn.

The top Japanese financial and crypto sector regulator, the Financial Services Agency (FSA), has published a report on DeFi, blockchain and crypto – with its authors concluding that there may be a need for the nation to develop regulations for the decentralized finance sphere.

The DeFi sector is “on the path to recovery,” with DeFi-related tokens increasing their share of the total crypto market valuation from last quarter's 4.7% to 5.8%.

Contrary to a popular belief, decentralized finance (DeFi) is “not really a new concept,” and also a misnomer, as DeFi platforms have “a fair amount of centralization” that includes governance mechanisms, fee models, as well as incentive systems, according to Gary Gensler, Chairman of the US Securities and Exchange Commission (SEC).

One of the most often used metrics in the decentralized finance (DeFi) industry, total value locked (TVL), is "a deceptively complicated metric hiding under a benign name," according to crypto intelligence firm Coin Metrics.

Tron (TRX) platform has just announced that it has established a USD 300m fund called TRON Arcade, which will invest in and incubate GameFi projects over the next three years.

Compound Finance founder is now backpedaling a controversial statement, while the community is once again questioning how decentralized DeFi really is.