DAI

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Third-Largest Bank in France Societe Generale Proposes Use of Defi Protocol Makerdao

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French multinational investment bank and financial services company, Societe Generale, has proposed to leverage the decentralized finance (defi) protocol Makerdao. The proposal dubbed “Security Tokens Refinancing” was published on October 1 to Makerdao’s forums and the submission aims to utilize the DAI stablecoin to refinance a covered bond concept. Societe Generale Proposes Leveraging Makerdao and … Read more

Valuation of Stablecoin DAI Market Swells — DAI Market Cap Increased More Than 800% in 12 Months

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Recently Bitcoin.com News covered the stablecoin tether and how the crypto asset’s market valuation jumped more than 1,500% in just over 500 days. In addition to this exponential increase, the decentralized stablecoin DAI’s market capitalization has also swelled significantly as DAI’s market valuation jumped more than 800% during the last 12 months, increasing from $696 … Read more

Poly Network Says Stolen User Assets on ETH Have Been Returned, Except Frozen USDT

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On Friday, a few days after the initial hack for $611 million, the Poly Network project detailed that the company has obtained all the assets stolen minus the frozen tether that was blacklisted by Tether Limited. The Poly Network team said they are in control of the funds along with “Mr. White Hat,” but the … Read more

Poly Network Hacker Says ‘In the Defi World Code Is Law’ While Returning Millions in Defi Tokens

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Two days after the notorious Poly Network hack, the hacker continues to send funds back to the project. On August 12, the Poly Network hacker so far has returned millions worth of ether, thousands of uni tokens, 1,032 wrapped bitcoins, and 96 million in stablecoins. The day prior, after returning $260 million in tokens, the … Read more

Poly Network Hacked for More Than $600 Million — Hacker Trolls Project Saying ‘It Could Have Been a Billion’

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On August 10, the decentralized finance (defi) project Poly Network suffered a loss of over $600 million according to various reports. The hack follows a recent Ciphertrace report on how defi-related hacks and fraud in 2021 have already surpassed 2020. The Poly Network hack on Tuesday is well above the entire year’s worth of defi … Read more

Stablecoins Swelled by $13B in 30 Days, Captured 67% of Today’s Crypto Trade Volume

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Over the last few weeks, cryptocurrency markets have fallen in value as most of these assets reached all-time price highs three months ago. Despite the price drops, 2021 has still been an explosive year for crypto gains and fiat-pegged stablecoins have grown massively as well. 53 days ago, the entire capitalization of fiat stablecoins crossed … Read more