Share this article Yearn.Finance has seen astronomical growth in the last few weeks as the protocol’s total value locked reached $2.5 billion. Yearn’s Active Asset Management Is Underrated After bursting onto the DeFi scene in August 2020, the project seems to have truly hit its stride in the last few months. In their most recent weekly update State of the Vaults, they announced they passed the milestone of $2.5 billion locked in their vaults. Total Value Locked in Yearn.Finance passes $2.5B. Graph from Yearn.Finance. Behind this rise in price is…
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Chinese Blockchain-Related Company Xunlei Reports $45.3 Million Q3 Revenue
Chinese desktop software and blockchain-related company Xunlei has published its Q3 report Wednesday, Nov. 14. According to the report, the firm’s revenue increased in 2018 after the introduction of blockchain services. The report notes that the company’s Q3 revenue reached $45.3 million, representing an increase of 1.1% year-over-year. The firm attributed $19.8 million of that revenue to its cloud and Internet value-added services sectors, which is an increase of 8.3 percent over the same period last year. Lei Chen, CEO of Xunlei group, stated that blockchain remains one of the…
Bitcoin Cash Civil War, Dash 3 Million, ICON FUD & Marshall Islands Update – Cryptocurrency News
Bitcoin and cryptocurrency news – Bitcoin Cash civil war gets serious, Pivx Zdex, Dash explodes, and good news from the Marshall Islands Marshall Islands … source
Bitmain Sues Anonymous Hacker Over $5.5 Million Theft
Chinese mining giant Bitmain is suing an anonymous hacker that allegedly stole $5.5 million in cryptocurrency last April from the company’s account on the digital exchange Binance. The hacker’s identity is still unknown, and he’s described only as “John Doe” in official court documents, which were filed in accordance with the lawsuit on November 7, 2018, with the U.S. District Court for the Western District of Washington in Seattle. The documents state that the hacker managed to take over the company’s Binance account, then use bitcoin stored in the account…
US Man Fined $1.1 Million, Sentenced to 15 Months for Fraudulent Bitcoin, Litecoin Schemes
U.S. citizen Joseph Kim of Phoenix, Arizona has been fined $1.1 million and sentenced to 15 months in jail for misappropriating Bitcoin (BTC) and Litecoin (LTC) from several people, the U.S. Commodity Futures Trading Commission (CFTC) reports Friday, Nov. 9. The CFTC found out that Kim defrauded his employer, a Chicago-based proprietary trading firm, transferring approximately $601,000 worth amount of BTC and LTC to his own accounts in 2017. When asked about missing cryptocurrencies, Kim falsely claimed that security issues made him transfer digital currencies to several accounts. Shortly after,…
Trader Jailed and Fined Over $1 Million for Bitcoin and Litecoin Fraud …
The U.S. Commodity Futures Trading Commission (CFTC) issued a press release on Friday, November 9, 2018, stating that it had fined Arizona resident Joseph Kim for perpetrating a fraudulent cryptocurrency trading scheme against his former employer and other investors. The same day, a District Court in the Northern District of Illinois sentenced Kim to 15 months on wire fraud charges. Misappropriating Employer’s Funds According to the release, Kim had misappropriated his employer’s funds between September and November 2017. Kim, who was employed by a Chicago-based trading firm at the time,…
Mining Giant Bitmain Sues Unknown Hacker for Alleged Theft of $5.5 Million in Crypto
China-based Bitcoin (BTC) mining giant Bitmain has sued an anonymous hacker for the alleged theft of cryptocurrency worth $5.5 million from Bitmain’s account on Binance in April, according to a lawsuit filed with the U.S. District Court for the Western District of Washington at Seattle on Nov. 7. As stated in the court document, an unknown hacker, referred to as “John Doe” in the case, managed to take over Bitmain’s Binance account and used stored Bitcoin to manipulate the price of altcoin Decentraland (MANA) and then steal the profits. Bitmain…
BBVA and Co-Lenders Complete $150 Million Syndicated Loan on a Blockchain
Twitter Facebook LinkedIn Two European and one Japanese bank one have completed the first blockchain-based syndicated loan. Together with France’s BNP Paribas and Japan’s Mitsubishi UFJ Financial Group, Spain’s banking behemoth BBVA utilized a private blockchain network in arranging a syndicated loan amounting to US$150 million for grid operator Red Electrica. Initially reported by the Financial Times, legal advisers were also granted access to the private blockchain network allowing instant exchange of information among all the parties to the deal. According to BBVA, the blockchain pilot is proof that distributed…
US Elections Push Augur’s Total Ether Bets Over $2 Million
U.S. elections drama may be dragging Augur out of the doldrums. The decentralized betting platform built on ethereum enjoyed a promising launch in July but then stagnated due to its clunky user experience and a general decline in the use of decentralized applications. As Tuesday’s mid-term elections in the U.S. approach, however, money is pouring into the platform. The market for “Which party will control the House after 2018 U.S. Midterm Election?” has 3,517 ether or nearly $727,000 staked on it at the time of writing, according to Predictions.Global, a…
Crypto Mining Tech Firm Bitfury Closes $80 Million Funding Round
Cryptocurrency mining technology firm Bitfury Group has just closed an $80 million funding round led by venture capital firm Korelya Capital. Also participating in the private placement were investors such as Mike Novogratz’s Galaxy Digital, Macquarie Capital, Dentsu Inc., Armat Group and others, according to a Bitfury press release. Advising Bitfury on the funding was investment bank Bryan, Garnier & Co.. George Kikvadze, Bitfury’s executive vice chairman, said in the release: “With a half billion dollars in revenues, Bitfury is the leading blockchain B2B global technology infrastructure provider at the corporate and…