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The top 100 DeFi tokens didn’t see much change in price over the past week, with the majority posting minor weekly gains. Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. The second quarter of 2023 saw over $208 million exploited and hacked from DeFi protocols, and with just $4.5 million of funds recovered, total losses to exploits were over $204 million. The DeFi ecosystem is an ever-growing industry with billions of dollars in daily trading volume. Still, it remains niche to a small population in the crypto industry and out of reach for some. For a thorough overview of DeFi, check out the new report from Cointelegraph Research titled: “Investing in DeFi: A Comprehensive Guide.” The DeFi lending protocol Maple Finance has decided to offer direct loans to some borrowers instead of relying solely on pool delegates to provide capital to fill the void

Ripple Community on Volante Technologies and FedNow Volante Technologies is working with a leading custodian bank to help it successfully complete pilot testing on the FedNow instant payments service. The parties tested send, send/receive, and bank-to-bank transfers to help banks adopt the FedNow network. advertisement FedNow is expected to launch on July 20. Meanwhile, banks can test their ability to connect to the FedNow network with Volante for offering instant payment services to their customers. Deepak Gupta , global head of payments as a service at Volante Technologies, said: “Key features such as the ability to automate payments and flexibility of funds are driving businesses toward faster payment options which they leverage to lower costs and help manage cash flow.” Recommended Articles Crypto Presale Projects For 2023 To Invest; Updated List

The company has raised $1.525 billion in funding since its inception last year. On June 29, Palo Alto-based Inflection AI announced the completion of a $1.3 billion raise led by Microsoft, Reid Hoffman, Bill Gates, Eric Schmidt and Nvidia. The new capital will be partly allocated to building a 22,000-unit Nvidia H100 Tensor GPU cluster, which the company claims is the largest in the world. The GPUs will be used to develop large-scale artificial intelligence models. Developers wrote:  “We estimate that if we entered our cluster in the recent TOP500 list of supercomputers, it would be the 2nd and close to the top entry, despite being optimized for AI — rather than scientific — applications." Inflection AI is also developing its own personal adjutant AI system dubbed “Pi." The firm explained that Pi is “a teacher, coach, confidante, creative partner, and sounding board” that can be accessed directly via social media or WhatsApp. The company’s total funding amount has reached

Join Our Telegram channel to stay up to date on breaking news coverage Solidus Technologies, a “UK-based technology company with a core focus on Blockchain Technology and Artificial Intelligence,” has just scored a €100m contract and partnership with Microsoft, according to a press release from the group. The group has been diversifying its funds and research into “AI & High Powered Computing (HPC) sectors,” which has drawn the attention of Microsoft, gaining a partnership with the massive corporation in just four weeks after implementing the change, the release continues. Now, Solidus will take advantage of Microsoft’s Azure cloud platform to help developers “create applications that can see, hear, speak, understand, and even begin to reason,” leading the world into the future. Speaking on the matter is Scott Cannon, a Director at Solidus Technologies, who said: “I am really excited that we chose to make the move into this sector. The global artificial intelligence marke

Cathie Wood’s ARK Investment Management is speculated to be leading the competition for a bitcoin (BTC) exchange-traded fund (ETF), ahead of investment giant BlackRock, according to recent industry reports. Renowned bitcoin-supportive company, ARK Investment Management, helmed by the seasoned investor Cathie Wood, is purportedly leading the race for a bitcoin (BTC) exchange-traded fund (ETF), as per recent information. The established investment corporation, BlackRock, initiated an application for a BTC ETF in the middle of June, instigating an air of expectancy across the cryptocurrency domain. Despite conjecture that BlackRock could emerge as the inaugural issuer of a BTC ETF in the U.S. subject to authorization, a number of industry insiders and specialists question this prospect. JUST IN: Cathie Wood’s ARK Invest says it’s first in line to get potential approval for a spot #Bitcoin ETF, ahead of BlackRock – Bloomberg pic.twitter.com/zjneCeo6bB — Bitcoin Magazine (@BitcoinMa

Crypto exchange OKX, a well-known exchange, has published its eighth consecutive monthly report on proof-of-reserves (PoR). The report reveals the balances of BTC, ETH, and USDT held by OKX, totaling a significant amount of $11.3 billion. According to the report , OKX has maintained a reserve ratio of over 100% for eight month s. The PoR report includes various assets such as USDC, XRP, DOGE, SOL, OKB, APT, DASH, DOT, ELF, EOS, ETC, FIL, LINK, LTC, OKT, PEOPLE, TON, TRX, and UNI, in addition to BTC, ETH, and USDT. Hot Off The Press #OKX is proud to publish our June 2023 #ProofOfReserves report . This is our 8th consecutive monthly report showcasing 100% reserve ratios for 22 assets including $BTC, $ETH, $USDT, and more. Dont trust, verify: https://t.co/y9XDAPkjZT pic.twitter.com/DlQSWsjQI2 — OKX (@okx) June 28, 2023 BTC, ETH, and USDT show reserve ratios of 103% each, indicating that OKX holds more reserves than the amount of cryptocurrencies owned by its users. OKX priori

The cryptocurrency market has been experiencing a notable shift in dynamics, with many assets recovering after a period of correction. However, Shiba Inu [SHIB] was an exception. The meme coin remained in a downtrend while increased burns continued to occur. Within a span of 24 hours, Shibburn data reveals that a significant amount of 104,441,651 SHIB tokens were transferred to dead wallets. This was done across eight separate transactions effectively removing them from circulation. Following the surge, the burn rate of Shiba Inu experienced a significant increase of 350% compared to the previous day. However, it is important to note that the current burn rate is relatively lower. As of the present moment, the burn rate stands at a positive 121.75%. Source Despite the ongoing burn activity, the price of the meme coin failed to generate substantial momentum for a significant price increase. Shiba Inu and its 2% daily dip Shiba Inu, at press time, was trading for $0.00000761 with a 1.9%

Join Our Telegram channel to stay up to date on breaking news coverage Over the years, 51 percent attacks have always reminded the crypto industry of the many dangers of Proof-of-Work (PoW) blockchain mechanisms. The latest asset to suffer this security flaw is privacy-focused cryptocurrency Firo. 306 Blocks Rolled Back Anonymous cryptocurrency Firo formerly known as Zcoin, confirmed that it had suffered a 51 percent attack. In a tweet , the digital asset’s developers advised users not to make any Firo-based transactions for now and wait until the network returns to normal. We are under 51% attack at the moment. We recommend not to make transactions during this time until the network returns to a normal state. We will post updates when we have them. Note this is not a coding error but a nature of PoW. $XZC $FIRO — Firo $FIRO (@firoorg) January 20, 2021 In blockchain parlance, a 51 percent attack occurs when a single entity controls the majority of a network’s hashrate. In

The Securities and Exchange Commission [SEC] and Ripple’s dispute have gone through several stages. The cryptocurrency community is speculating about the case’s outcome as it approaches its conclusion. Please enable JavaScript Prediction of Bitcoin’s (BTC) price in 2030 The case has been ongoing for more than two years, and the conflict seems interminable. The ongoing legal dispute also had an impact on XRP’s price and discouraged retail investors. XRP’s price has not been quite as high as compared to other altcoins. XRP is trading at $0.4774, with a 2.42% drop in value over the past 24 hours. Also read: VeChain (VET): Price Prediction For June End 2023 XRP is down by 7.8% over the last 14 days and is 87% down from its all-time high of $3.84. Here is our price prediction for Ripple for June end of 2023. Source: Financial Times Ripple price prediction for June end 2023 Cryptocurrency experts at Changelly predicted the price of Ripple for June end of 2023. According to the analysts, XRP

Tres Finance co-founder Tal Zackon warned businesses to not use explorers when tracking their finances. Decentralized Finance (DeFi) protocol Tres Finance warned the community about a scam that involves fake token s designed to mimic legitimate transactions. In an interview, Tres Finance co-founder Tal Zackon and the company’s technical lead Idan David shared the details of a scam using fraudulent transactions that imitate legitimate ones. According to the duo, the scammers attempt to lure unsuspecting users to copy the wrong wallet address and send their transactions there. David further explained that scammers often identify and target wallets with large amounts of stablecoins like Tether (USDT) or USD Coin (USDC). Once the scammers locked into their targets, they create similar-looking wallet addresses and create token s that imitate the legitimate ones. David explained: “So, they're creating a new token that has the same symbol as the original token, and they can create ficti

Join Our Telegram channel to stay up to date on breaking news coverage Chiru Labs, the digital asset incubation studio and the team behind the popular blue-chip non-fungible token “Azuki,” has announced ready plans to launch a new NFT collection this coming week. The highly anticipated NFT collection will begin minting this coming Tuesday. Azuki To Drop New NFTs This Coming Week In a June 24 blog post, Azuki confirmed plans to launch a new non-fungible token collection called “Elementals.”The much-awaited NFT collection will feature a limited edition of 20,000 anime-themed NFTs. It will launch this Tuesday, June 27. Launched in January 2022, Azuki is an NFT collection featuring a limited edition of 10,000 NFTs hosted on the Ethereum network. The NFT collection has since grown to become one of the most successful NFT collections in the short history of crypto. The collection works like most profile picture NFTs (PFP NFTs,) utilizing a randomized selection of traits to create

The Terra Allies senior full stack engineering team, known as the Six Samurai, has presented their Q3 spend proposal, emphasizing their deep passion as Luna Classic holders. After a joint governance proposal on liquid staking derivatives in Terra Classic (LUNC), a new proposal emerged for the next quarter suggesting the formation of a dedicated team consisting of six senior full-stack engineers. The Terra Allies senior full stack engineering team — known as the “Six Samurai” — has presented their Q3 spend proposal, emphasizing their deep passion as LUNC holders. With a firm commitment to achieving “a true revival of the ecosystem ,” the team pledges to dedicate their efforts and expertise toward this goal. Terra was originally an ecosystem with several moving parts. However, its TerraUSD (UST) stablecoin and LUNA asset faced catastrophe in 2022, causing vast changes to the project. Terra now has a new blockchain called Terra 2.0 with a new asset that is also called LUNA but referred

This leading AgTech firm offers a comprehensive tech stack designed to empower farmers and optimize the global industry. Blockchain technology has shown that it can transform data-driven markets, such as finance. However, the technology is industry-agnostic and can be applied across the board in ways specific to each industry. For example, it can be used in agriculture , the oldest industry in the world, and one that’s part of the primary sector of almost every economy globally. Agricultural technology (AgTech) is growing rapidly to streamline and automate multiple processes. Thanks to a range of innovative technologies, including blockchain, artificial intelligence (AI), and satellite and drone imagery, farmers can scale their businesses, reduce costs and expand their reach. In recent years, farmers and other industry players have adopted AgTech for a variety of use cases, including farm management, remote sensing, precision agriculture hardware and automation, among others. North A

Also Read: US SEC Gives Nod To First Ever Leveraged Bitcoin ETF advertisement The order from the authorities came at a time when US based exchanges like Coinbase and Gemini are increasingly making efforts to expand to other countries, especially in Europe and Asia. However, regulatory concerns in the United States are likely to remain at least until the U.S. Presidential Election 2024. Orders To Binance Belgium According to a statement by the FSMA, the violation occurs from services provided in Belgium from countries that are not members of the European Economic Area. The statement said, “The FSMA has decided to order Binance to cease, with immediate effect, offering or providing any exchange services in Belgium between virtual currencies and legal currencies, as well as custody wallet services.” Recommended Articles Crypto Presale Projects For 2023 To Inve

Kyber Network has always been focused on giving its users the most optimal swap rates safely & securely as the most efficient DEX in DeFi. They are thrilled to announce a significant milestone for Kyber Network as they embark on a new journey by deploying KyberSwap on zkSync Era. This integration not only proves their position as a pioneering EVM DEX aggregator but also brings them closer to delivering the most optimal swap rates and seamless transactions in DeFi. Kyber Network has successfully deployed KyberSwap’s aggregator and Classic liquidity protocol on zkSync Era, laying a strong foundation for further advancements and innovations in the near future. They also promise that there are more exciting developments to come as they continue to push the boundaries of decentralized finance. Their deployment on zkSync Era includes the integration of native DEXs, such as Mute, Switch, SyncSwap and Velocore, further augmenting their liquidity offerings. Kyber Network’s plans for zkSync