The Maker Foundation's decentralization announcement came hot on the heels of a post-Black Thursday debt crisis that threatened to force an emergency shutdown of the MakerDAO decentralized lending platform. That was resolved a day earlier by a reverse auction following a series of votes by MKR token holders.
Vitalik Buterin wants a bridge to peace between the armies of bitcoin and ether (Photo: John Philips/Getty Images for TechCrunch).Vitalik Buterin: Lack of bitcoin-ether bridge ‘embarrassing’
In a candid tweet, the Ethereum co-founder said it was ‘embarrassing that we still can’t easily move between the two largest crypto ecosystems trustlessly’
Ethereum co-founder Vitalik Buterin has called for a decentralized exchange to be built that enables swaps between bitcoin and ether. At present, those who want to convert their BTC into ETH, or vice versa, have little choice but to rely on centralized crypto exchanges, which often charge fees.
Crisis at MakerDAO as ETH crash creates bad debt worth $4 million
MakerDAO has admitted changes need to be made after a ‘brutal storm of external realities’ led to $4 million of bad debt being created on the DeFi platform
Decentralized finance giant MakerDAO has been holding crisis talks after dramatic falls in the price of Ether left debt worth about $4 million under-collateralized.
Huobi Brokerage launches, targets institutional clients
Huobi Group’s new digital asset brokerage platform also targets high net worth individuals
Ciara Sun, Vice President of Global Business at Huobi Group, said 2020 is the beginning of the “next phase of crypto. 2019 brought the first wave of institutional interest but 2020 is when we expect to see the industry mature with growing demand.”
