DeFi will bring a new golden age for the film industry

With an explosion of video streaming as a result of the COVID-19 pandemic and now around $40 billion locked into decentralized finance protocols, it’s time for decentralized finance and the film industry to meet. Film financing is a cumbersome and inefficient system. Investors are the first to put their money in but last to see any return. There is no transparency into how funds are being used during production or how profits are allocated after distribution. Investment decisions are generally based on very little data about what people actually want…

Ethereum gas fees drop as daily DEX and DeFi volumes decline

The rising popularity of decentralized finance (DeFi) has brought fresh attention and optimism to the cryptocurrency sector with the total value locked on all protocols increasing from $1 billion to $59 billion in less than a year and the top 5 platforms accounting for $24.33 billion of the total value. Rising gas fees have been one of the most noticeable results of the increasing interaction with DeFi protocols and currently, the Ethereum (ETH) network hosts the majority of the top DeFi projects. Gas fees have been steadily rising since November…

Binance Smart Chain DeFi Project Hacked for $31 Million

Key Takeaways A yield farming project on BSC has been hacked for $31 million. The website, twitter account, and telegram channel are all down, suggesting a rug pull by creators. The hackers are using DeFi avenues to move the stolen tokens. The DeFi news category was brought to you by Ampleforth, our preferred DeFi partner Share this article Vault 1 of the DeFi application Meerkat finance, a clone of  Yearn Finance on Binance Smart Chain, was drained for $31 million this morning.  Meerkat Finance Hackers Tinker With Smart Contract  The…

DeFi Taxes 2021: How to Pay Tax on Borrowing, Lending, Yield Farming, and Liquidity Pool Funds

Key Takeaways Capital gains tax and income tax apply to DeFi earnings depending on the activities and platforms in question. Liquidity pool tokens are typically subject to capital gains, while native tokens are more commonly subject to ordinary income tax. You can take out a crypto loan to pay taxes without triggering another tax event by selling crypto — just be careful of margin calls. Share this article Taxes are one of the more opaque issues in crypto, with many investors still unsure how to calculate taxes on earnings or…

DeFi who? NFTs are the new hot stars on the crypto block

The last bull run of 2017 was defined by the initial coin offering craze, which took a turn for the worse with foreseeable consequences for overvalued projects that had little more than a team and a poorly written white paper. While many useful projects were able to blossom from the ICO era, including Ethereum and others, most have come and gone with the wind, leaving thousands of unwary investors holding on to worthless bags of tokens. A full market cycle later, and there’s now yet another rally that seems to…

DeFi token CRV spikes after reports PayPal acquired unrelated custody firm Curv

Excitable speculators mistakenly rushed to invest in the native token of decentralized finance protocol Curve Finance (CRV) after reports emerged that payments giant PayPal has acquired the unrelated Israel-based crypto custody firm, Curv. News of PayPal’s Curv acquisition was reported on March 2, with the publications citing anonymous sources “familiar with the matter.” Israel-based media has reported the company may have been sold for between $200 million and $300 million. Within an hour of the news breaking, Curve’s CRV token had rallied by more than 10% as opportunistic traders raced…

Unibright (UBT) price soars after DeFi staking and enterprise-level partnerships

As Bitcoin (BTC) and Etheruem (ETH)  gain legitimacy in top financial circles that will eventually help digital currencies mainstream, projects that offer enterprise-level blockchain solutions are also gaining attention from the corporate sector and investing class. Sold as one of the next technological breakthroughs that will revolutionize the current digital landscape and usher in a new era of decentralization, businesses and corporations have already shown immense interest in how blockchain technology can be integrated into their operations to help save money and increase efficiency. One project that has a focus…