Bitcoin DeFi Demand Plummets as Botanix Shuts Down
@Botanix is shutting down after four years, citing weak demand for Bitcoin DeFi. Users must withdraw assets by July 9 to avoid loss. #Update #Crypto $BTC
DeFi
Covers all aspects of DeFi – Decentralised Financial systems, protocols, and instruments built on blockchain.
Bitcoin DeFi Demand Plummets as Botanix Shuts Down
@Botanix is shutting down after four years due to weak demand for Bitcoin DeFi; users must withdraw assets by July 9 to avoid loss. #Update #Crypto $BTC
Bitcoin DeFi Demand Fails as Botanix Closes
@Botanix is shutting down after four years, citing weak demand for Bitcoin DeFi. Users must withdraw assets by July 9 or risk losing access. #Update #Crypto $BTC
Bitcoin DeFi Project Shutdown Shocks Users
@Botanix is shutting down its Bitcoin layer-2 network, citing poor market conditions and low user interest, with a total value locked of only $119,500 despite raising $14.4 million. #Update #Crypto $BTC
DeFi Giant Morpho Raises $175M at $2B
Morpho raises $175M from Paradigm, A16z Crypto, and Ribbit at a $2B valuation as its TVL hits $6.6B, highlighting institutional DeFi demand. #Update #Crypto
DeFi Contracts Linked to $36.7M Losses
Unverified smart contracts caused $36.7M in DeFi losses, with Truebit losing $26.2M due to an exploit; Chainalysis warns against obscurity as security. #Update #Crypto
Cardano Surges as DeFi Metrics Climb
Cardano’s DeFi metrics are rising, suggesting resilience despite market volatility, according to a DEX aggregator. #Update #DeFi $ADA
Ethereum DeFi Raises $175M Challenges Wall Street
Morpho raises $175M led by Paradigm, Ribbit Capital, and a16z crypto, valuing it at $2B. The protocol aims to integrate traditional finance into DeFi. #Update #DeFi
Tokenization Takes Priority Over DeFi Rules
@Cointelegraph reports that EU adviser Peter Kerstens suggests prioritizing a digital asset framework over DeFi regulation in MiCA review, stating DeFi lacks representatives and may not need regulation. #Update #Crypto
Tokenization Must Lead EU DeFi Strategy
@EuropeanCommission adviser Peter Kerstens suggests focusing on a broader digital asset framework instead of regulating DeFi under MiCA, emphasizing the challenges of applying laws to decentralized networks. #Update #Crypto
Crypto Advisor Backs 6 Tax Bills for Staking
Patrick Witt, White House crypto policy adviser, supports new digital asset tax bills addressing staking, mining, and transactions. Six proposals introduced by the House Ways and Means Committee ahead of a June 9 hearing. #Update #Crypto
Ethereum Launches Self-Custodial Wallet for DeFi
@MetaMask launched a self-custodial wallet for AI agents to transact in DeFi with user-defined controls, offering up to $10,000 loss protection; early access available now. #Update #Crypto $ETH
Aave Defends Resilience After $8.45B Bank Run
@Aave’s CEO Stani Kulechov defends the protocol’s resilience after a $292M exploit led to an $8.45B deposit run, revealing reliance on a $300M bailout and plans for V4 risk management overhaul. #Update #DeFi $AAVE
XRP Eyes $1 Amid Liquidity Flash
XRP approaches a critical liquidity zone after a $5 billion market liquidation, with analyst Will Taylor noting potential for a reversal or further downside. #Update #Crypto $XRP