FTX blasted after “creating tokens” to capture $1 million in value; but that’s what DeFi is supposed to be

BTC $9167 (-1.3%) • ETH $230 (-1.4%) • XRP $0.18 (+2.7%)

An incident earlier this week showed what peak Decentralized Finance (DeFi) could look like — one where the smartest survive and rent-seekers are eradicated immediately.

On June 25, Predictions Exchange tweeted FTX was creating tokens and listing them on CoinGecko, while supplying its own liquidity for capturing Balancer (BAL) distribution. The tweet noted FTX harvested over 50 percent of last week’s BAL distribution.

Read the full story here ➡️


More news ⏬

Chainlink’s investor base has grown by 100% this year; Whales are taking notice

Chainlink’s investor base has grown by 100% this year; Whales are taking notice

Chainlink’s immense momentum has shown some slight signs of slowing down after the cryptocurrency set fresh all-time highs yesterday.

2 min read →


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Bitcoin miner outflows are showing signs of a weakening BTC market

Bitcoin miner outflows are showing signs of a weakening BTC market

It was a long time coming.

2 min read →


Ethereum daily transactions break 1M on DeFi hype, but Vitalik Buterin has concerns

Ethereum daily transactions break 1M on DeFi hype, but Vitalik Buterin has concerns

Ethereum’s fundamental strength has grown immensely throughout 2020.

2 min read →


On-chain data accentuates that Cardano (ADA) is “mostly bearish”

On-chain data accentuates that Cardano (ADA) is “mostly bearish”

The crypto market has seen a strong correction since its attempted breakout earlier this week, Cardano (ADA) has been no exception to this drop.

2 min read →


This Swiss bank is now paying out Bitcoin yield to account holders, but there’s a catch

This Swiss bank is now paying out Bitcoin yield to account holders, but there’s a catch

Innovative Bitcoin products are not falling short of delivering this year, with institutional firms notching up one crypto product or other.

2 min read →


Here’s why Ethereum (ETH) prices are not surging even as DeFi heats up

Here’s why Ethereum (ETH) prices are not surging even as DeFi heats up

Much of the ICO boom in 2017 was driven by massive surges in ETH prices — with scammers, aspiring technologists choosing the Ethereum protocol to issue their tokens, and reap some profits off the frenzy.

2 min read →


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