🌪 Solana Endures ‘Crucible’ as FTX Connection Deletes 70% of TVL
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News
Solana Endures ‘Crucible’ as FTX Connection Deletes 70% of TVL
Audit Shows Terra Groups Spent $3.4B to Defend Dollar Peg in UST
FTX Crisis
Podcast
Defiant Video
Trending in The Defiant
MakerDAO Releases Speedy DAI Transfers and Tightens Controls on Vaults
Crypto Users Jump to DeFi Platforms in Wake of FTX’s CeFi Crash
Elsewhere
Genesis Sought $1B Bailout From Investors Before Halting Withdrawals: Report: Decrypt
Binance to Relaunch Bid for Bankrupt Crypto Lender Voyager: Source: CoinDesk
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FTX Crisis: Solana
🌪 Solana Endures ‘Crucible’ as FTX Connection Deletes 70% of TVL
Fall of SBF’s Empire Rocks Layer 1 As It Was Rebounding From Tough Year
HIT HARDER There was a time when Solana’s relationship with Sam Bankman-Fried was a good thing. Not anymore. Perhaps no DeFi player has been hit harder by the FTX disaster than Solana, the Layer 1 blockchain that, until recently, had attracted users and buzz with its high-speed, low cost performance.
👉READ THE FULL STORY IN THE DEFIANT.IO👈
FTX Crisis: Alameda
💰 FTX Leadership Borrowed Over $1B From Alameda
Incoming CEO John Ray Cites ‘Complete Absence of Trustworthy Financial Information’
LOANS Former FTX CEO Sam Bankman-Fried and other executives at the now-bankrupt crypto exchange were loaned more than $1B by sister company Alameda Research, according to a court document released Thursday. Another $2.3B was loaned to Paper Bird Inc. Alameda, Paper Bird and FTX are largely or wholly owned by Bankman-Fried and are among the 100-plus companies in his empire to have filed for Chapter 11 bankruptcy in Delaware last week.
👉READ THE FULL STORY IN THE DEFIANT.IO👈
Sponsored Post
Liquity's Chicken Bonds enhanced yield with DeFi Saver
DeFi Saver is an all-in-one dashboard for creating, managing and tracking positions with automatic liquidation protection and leverage management options for only the most trusted DeFi protocols, Liquity among them.
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FTX Crisis: DeFi Impact
🏝 DeFi Users Jump But Boom is a Mirage: Chainalysis
Data Shows Activity Spike Came from Existing Users and MEV Bot
VOLUMES Ever since FTX halted withdrawals and filed for bankruptcy last week, several DeFi protocols have enjoyed surging transaction volumes and fee revenue. However, FTX’s collapse has not spurred a rush to self-custody, according to research from blockchain analytics firm Chainalysis.
👉READ THE FULL STORY IN THE DEFIANT.IO👈
FTX Crisis: SBF
🔩 SBF Rues FTX Bankruptcy Filing As Screws Tighten: Report
Says Altruist Persona Was ‘Just PR’ in Wide-ranging Interview with Vox
OVERTURES Disgraced FTX co-founder and former CEO Sam Bankman-Fried (SBF) said his overtures to regulators and his cultivated image as a do-gooder were “just PR” in an interview with Vox published Wednesday.
👉READ THE FULL STORY IN THE DEFIANT.IO👈
Crypto Audits
📝 Audit Shows Terra Groups Spent $3.4B to Defend Dollar Peg in UST
Terraform Labs Commissioned Study to Quantify Support for Stablecoin During May Crisis
By Owen Fernau
PEG In a bid to quell speculation about how Terra defended its stablecoin UST during its meltdown last May, two organizations connected with the failed blockchain ecosystem spent a whopping $3.4B in May to support its dollar peg, according to an audit released Wednesday.
👉READ THE FULL STORY IN THE DEFIANT.IO👈
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Defiant Video
📺 Does SBF Have A Get Out Of Jail Free Card?
Podcast Video
📺🎙 Podcast: JPMorgan’s First DeFi Trade: Behind The Scenes
Trending in The Defiant
MakerDAO Releases Speedy DAI Transfers and Tightens Controls on Vaults MakerDAO, the No. 1 DeFi platform with more than $8B in total value locked, now allows users to transfer its DAI stablecoin between Ethereum’s mainnet and Layer 2 networks, the protocol announced on Wednesday.
Businesses Can Now Accept USDC With Apple Pay Circle, the issuer of the dollar-pegged USDC stablecoin, has unveiled an integration with Apple Pay, the payment service with over half a billion users around the globe. Merchants will be able to accept USDC as payment using this new feature.
Crypto Users Jump to DeFi Platforms in Wake of FTX’s CeFi Crash Don’t look now, but the FTX collapse has spurred a wave of interest in decentralized finance platforms. DeFi protocols are experiencing double digit increases in the number of users over the past week, according to data from Nansen, the blockchain analytics platform.
Elsewhere
🔗 Genesis Sought $1B Bailout From Investors Before Halting Withdrawals: Report: Decrypt
Crypto lender Genesis tried to raise a $1 billion loan from investors to avoid a “liquidity crunch” driven by the fallout from crypto exchange FTX’s collapse, according to a Wall Street Journal report.
🔗 Binance to Relaunch Bid for Bankrupt Crypto Lender Voyager: Source: CoinDesk
Binance.US, the American arm of the world’s largest cryptocurrency exchange, is preparing to bid for bankrupt lending platform Voyager Digital, according to a person familiar with the plans.
🧑💻 ✍️ Stories in The Defiant are written by Owen Fernau, Aleksandar Gilbert, Samuel Haig, and yyctrader, and edited by Edward Robinson, yyctrader and Camila Russo. Videos were produced by Alp Gasimov. Podcast was led by Camila, edited by Alp.
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