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Next-Generation DeFi Platform M^ZERO Exits Stealth Mode With $22.5M Funding Round

[Apr 5, 2023 7:00 AM] The initial round was led by Pantera Capital, and included the Scaramucci family-linked SALT Fund, and Mouro Capital, the venture capital connected to the Santander Group.

CFTC allegations and $1 billion lawsuit for Binance: Law Decoded, March 27–April 3

[Apr 3, 2023 1:00 PM] Five days after the CFTC move, a new $1 billion lawsuit was filed against the crypto exchange by the law firm representing three American investors.

Value Locked in Defi Holds the Line at $50B, After Temporarily Shedding $8B in Mid-March

[Apr 2, 2023 10:00 AM] The total value locked (TVL) in decentralized finance (defi) during the first week of April is about $50 billion, roughly the same as on March 1. The value locked dropped to $42 billion on March 12 but has since rebounded as protocols such as Lido…

MakerDAO passes new 'constitution' to formalize governance process

[Mar 27, 2023 3:45 PM] The document creates multiple offices tasked with fulfilling various jobs for the protocol, each with their own powers and responsibilities.

Lending Platform MakerDAO Approves ‘Constitution,’ Moves Forward With ‘Endgame’ Plan

[Mar 27, 2023 11:34 AM] The approved proposal aims to set a new foundation for the largest decentralized lending protocol’s major restructuring called “Endgame.”

Stablecoin Market Sees Fluctuations With Some Coins Gaining and Others Reducing Supply

[Mar 26, 2023 8:30 AM] According to statistics, on March 26, the stablecoin economy was valued at $135 billion, with the top stablecoins representing $31.8 billion or 75% of the $42.17 billion in 24-hour global trade volume across the entire crypto market. In the last…

MakerDAO Maintains Trust In USDC Despite Depeg Debacle

[Mar 25, 2023 10:15 PM] MakerDAO, the governance community of the popular DeFi lending platform Maker, has decided to keep using USD coin (USDC) as the primary reserve asset for the DAI stablecoin.  Although USDC experienced a temporary depeg earlier this month, an…

Stablecoin Issuer MakerDAO Votes to Retain USDC as Primary Reserve Even After Depeg

[Mar 23, 2023 10:58 AM] The decision follows a turbulent period during which USDC temporarily lost its dollar peg when key banking partner SVB collapsed.

Sushi DAO to Set up Defense Legal Defense Fund; Project Receives Unspecified US SEC Subpoena

[Mar 23, 2023 5:30 AM] Sushi, the Web3 exchange that pivoted into a decentralized autonomous organization (DAO), is seeking to organize a legal defense fund. If approved, the proposal, which already is available for voting, will put $3 million USDT as part of a fund to…

The US Fed adds $297 Billion In A Week, Fanning Bitcoin Rally

[Mar 17, 2023 3:35 AM] The total amount of assets held by United States Federal Reserve (Fed) banks is up 3.56% in the past week, rising to $8.639 trillion from $8.342 trillion, trackers on March 17 show. Fed Injected $297 Billion Into The Market Last Week With the Fed…

MakerDAO passes proposal for $750M increase in US Treasury investments

[Mar 16, 2023 3:45 PM] The emergency proposal increases MakerDAO’s holdings of United States bonds by 150%, aiming to diversify the Dai stablecoin’s collateral exposure.

Debtors saved over $100M using de-pegged stablecoins to repay loans

[Mar 13, 2023 11:53 PM] Debtors jumped on the opportunity to grab a discount on their loan repayments when USDC and DAI de-pegged from the dollar.

How MakerDAO Intervened, Saving DAI From Depegging

[Mar 13, 2023 12:30 PM] MakerDAO, the protocol behind the decentralized stablecoin DAI, intervened and saved its stablecoin from de-pegging following the collapse of Silicon Valley Bank (SVB). The failure of the tech lender significantly affected Circle’s…

Makerdao Issues Emergency Proposal to Address $3.1B in USDC Collateral After Stablecoin Depegging Incident

[Mar 11, 2023 12:30 PM] On March 11, 2023, the decentralized finance project Makerdao issued an emergency proposal following the USDC depegging incident that saw the stablecoin dip down to $0.877 per unit. At the time of writing, Makerdao commands $3.1 billion in USDC…

Maker DAO files emergency proposal addressing 3.1B USDC exposure

[Mar 11, 2023 7:22 AM] "Proposal(s) implementing the above changes are expected to be posted in the next ~12 hours or less," says Maker.

Circle’s USDC instability causes domino effect on DAI, USDD stablecoins

[Mar 11, 2023 4:44 AM] Following USDC’s depegging, three stablecoins — DAI, USDD and FRAX — also depegged from the U.S. dollar.

MakerDAO Is Raking Big Money, But Why Is It Under Fire?

[Mar 8, 2023 3:00 PM] MakerDAO, one of the first and largest DeFi protocols on Ethereum, is raking in millions of dollars. Even as it remains successful, the decentralized money market is under immense pressure from its community. MakerDAO Makes $2.1 Million On March 8…

Frax’s shift to a fully backed stablecoin signals the end of DeFi’s algorithmic experiment

[Mar 6, 2023 12:45 PM] The sun sets on algorithmic stablecoins as Frax shifts to a fully-backed model.

Maker (MKR) Survives Onslaught With 21% Gain As Other Top 100 Cryptos Suffocate

[Mar 3, 2023 3:10 AM] In the midst of an onslaught in the crypto market today, only one crypto made the biggest gain: Maker (MKR). At the time of writing, MKR was trading at $896, notching an impressive 21% increase in the weekly scale, and outperforming the rest of its…

Maker (MKR) Ignores Market Downtrends, Gains Over 15% In One Week

[Mar 2, 2023 5:45 AM] Maker Foundation’s governance token, MKR, seems to be ignoring the evaporative bearish trend that hit almost all coins across the crypto market. Its gains over the past month and weeks show the asset means to beat all odds. As of today, March 2…

Crypto Market Slides as Total Value Locked in Defi Falls Below $50 Billion Mark

[Feb 25, 2023 11:00 AM] The value of the crypto market has started to slide again after a bullish run-up over the last seven weeks. The total value locked (TVL) in decentralized finance (defi) has slipped below the $50 billion mark to $49.8 billion. The TVL in defi has…

Jump Crypto & Oasis.app counter exploits Wormhole hacker for $225M

[Feb 24, 2023 7:20 PM] The counter exploit came after the High Court of England and Wales ordered Oasis.app to work with Jump Crypto to retrieve the stolen funds.

MakerDAO voting on $100M loan participation with Florida commercial bank

[Feb 17, 2023 3:50 PM] Florida's Cogent Bank is proposing a $100 million participation in loans to MakerDAO's RWA Master Participation Trust.

Total Value Locked in Defi Surpasses $50 Billion Mark for First Time Since FTX Collapse

[Feb 16, 2023 11:00 AM] Crypto prices have surged in value over the past few days, and the total value locked (TVL) in decentralized finance (defi) has surpassed the $50 billion mark for the first time since the collapse of FTX. As of Feb. 16, 2023, the TVL in defi is…

BUSD Redemptions Soar Near $290 Million in 8 Hours After NYDFS Consumer Alert

[Feb 13, 2023 3:30 PM] Before Paxos published a press release at 6 a.m. Eastern time Monday, the stablecoin BUSD had approximately 16.16 billion tokens in circulation. In the past eight hours, nearly $290 million has been redeemed, bringing the number of BUSD in…

Aave Launches Stablecoin GHO on Ethereum Goerli Testnet with Open Source Codebase and Audits

[Feb 9, 2023 4:30 PM] Aave Companies, the firm behind the decentralized finance (defi) project Aave, has announced the launch of a stablecoin called GHO on the Ethereum testnet network Goerli. The codebase is available on Github and has undergone audits by Open…

DeFi protocols unite to promote permissionless Web3 experiences

[Feb 7, 2023 6:47 AM] The collaboration of over 30 DeFi projects came as an effort to counteract the negative sentiments built in 2022 due to numerous CeFi ecosystem crashes.

Makerdao Co-Founder Proposes $14 Million Fund to Combat Climate Change; Crypto Supporters Mock Idea

[Feb 7, 2023 3:30 AM] Cryptocurrency advocates have been discussing a proposal by the founder of Makerdao, Rune Christensen, to fund a Scientific Sustainability Fund. An idea that aims to combat climate change and misinformation about energy solutions. Christensen is…

Starkware Plans to Open Source Key Tech Linked to Starknet Prover

[Feb 6, 2023 1:30 AM] At the Starkware Sessions 2023 event, held at the Cameri Theatre in Tel Aviv, Israel, Starkware co-founder Eli Ben-Sasson informed the audience that the company intends to open source “key tech” linked to the Starknet Prover. During the…

Smart Contract Token Market Soars to $332 Billion; Defi Value Reaches High Not Seen Since FTX Collapse

[Feb 2, 2023 12:30 PM] The smart contract token economy rose 5.6% against the U.S. dollar on Thursday, reaching $332 billion. Additionally, the value locked in decentralized finance (defi) increased to nearly $50 billion, a record high not seen since the collapse of FTX…