Scammers Never Sleep: Nearly $8 Million Stolen in DeFi Attack
May 19, 2021 at 05:52
In the latest rounds of attack on DeFi (Decentralized Finance), FinNexus Options Protocol and DeFi platform lost close to $8 million. DeFi experts say the attack was either executed via stolen admin keys or a rug pull. In the attack, FinNexus lost more than 383 million FNX tokens pushing the price of the token to plummet by at least 90%.
FinTech is Changing the World for the Unbanked Population
Jun 22, 2020 at 09:45
It is no secret that inclusion in the international financial system is tightly connected to people’s wellbeing. While the population of developing countries worldwide suffers poverty, fintech innovations including blockchain technology can help these people improve their life.
French Court Recognizes Bitcoin as a Fiat Currency
Mar 07, 2020 at 10:03
The commercial court of Nanterre recognizes that Bitcoin is "a fungible and consumable intangible asset", which brings it closer to the above-board definition of fiat money. This is the first time cryptocurrency is acknowledged in France.
Security Token Offering as a Blockchain-Based Alternative to IPO
Dec 06, 2019 at 06:31
Whenever the venture capitalists or the public asks how it is possible today for a firm to gather capital for growth and development, the first thing that comes into consideration is an initial public offering (IPO), which is the process that it is popularly regarded as the opening of social capital to the public.
Shinhan Bank Unveils a Blockchain System for Loan Approval
May 29, 2019 at 10:43
The oldest and second biggest banking institution, Shinhan Bank, headquartered in Seoul, South Korea, has adopted blockchain authentication technology for non-face-to-face loans in order to accelerate the loan approval process. The institution, owned by Shinhan Financial Group, announced that it has launched an effective system which validates the documents needed for non-facing loan business in the country by applying blockchain and distributed ledger technology.
Bitfinex to Have its Injunction Modified by Supreme Court
May 18, 2019 at 09:43
The New York (NY) Supreme Court will modify the injunction against cryptocurrency exchange Bitfinex because it is vague and unclear. The injunction against the company’s digital currency business, was obtained by NYAG. The court made a ruling that Tether should not loan cryptocurrencies to the exchange, unless it is a standard recognized way of doing its commercial activities.
CoinLoan Opens Platform to Bridge Gap Between Lenders and Borrowers
Jul 27, 2018 at 07:22
CoinLoan, an Estonia-based startup, has launched a crypto-to-fiat lending platform where cryptocurrency is used as collateral. From now on, crypto-backed loans are available for users all over the world. On CoinLoan, everyone can become a lender or a borrower, on his or her own terms. The platform’s primary objective is to link counteroffers and ensure the safety of the deal.