Crypto Broker Genesis Says Lending Business Declined in Q2

Genesis, a global institutional digital asset trading, lending, derivatives, custody and prime brokerage services company, on Wednesday, published its Q2 earning report with some interesting insight into crypto markets. The report shows that crypto lending output at the company declined while OTC trading rocketed higher. Genesis said it issued new loans worth $40 billion in … Read more

Decentralized apps on Polygon hit 37,000, rocketing 400% this year

The number of decentralized applications (DApps) on Ethereum-scaling-platform Polygon has topped 37,000, marking a 400% increase since the start of 2022. The Polygon team shared the figures via an Aug. 10 blog post, which was sourced from partnered Web3 development platform Alchemy, noting that the figure represents the cumulative number of applications ever launched on … Read more

Injective Raises $40m Funding to Expand DeFi Applications

Injective, a popular New York-based blockchain platform built for finance, announced on Wednesday that it has raised $40 million in a funding round led by Jump Crypto, the cryptocurrency arm of the decades-old trading firm Jump Trading Group. Injective is designed to build decentralized finance (DeFi) applications, such as derivatives exchanges, prediction markets, and options. It also … Read more

Cross-chain bridge RenBridge laundered $540M in hacking proceeds: Elliptic

Cross-chain bridges have been the target of more than a few hacks this year, but new data from blockchain analytics provider Elliptic alleges one has been used to launder over half a billion dollars in ill-gotten crypto assets.  According to an Aug. 10 report, crypto bridge RenBridge has facilitated the laundering of at least $540 million in … Read more

Truly decentralized Web3 needs more developers: Animoca co-founder

Animoca Brands co-founder and chairman Yat Siu has urged for more developers to enter the Web3 space, warning that without “choice” there can be no “decentralized environment.” Speaking to Cointelegraph during Korean Blockchain Week (KBW) 2022, Sui stressed that more developers need to come into the space to give consumers more alternatives when it comes … Read more