The recent $293 million hack of Kelp DAO has knocked $20 billion off of the total value locked (TVL) in decentralized finance, according to JPMorgan. DeFi was the unintended victim of the Kelp DAO hack, with some $230 million worth of fake tokens used to borrow on the Aave lending platform. That bad debt saw Aave lose $10 billion in total value locked, referring to the value of tokens deposited in Aave’s lending pools. But the damage isn’t limited to Aave, said JPMorgan analysts led by Nikolaos Panigirtzoglou in an April 23 report. In the days following the April 18 exploit of Kelp DAO, another $10 billion has moved off…
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Is Bitcoin endangering the ‘green’ credentials of companies like Tesla?
Climate-conscious governments and activists are waking up to the fact that BTC is a power-hungry cryptocurrency, which could come back to bite the institutions whose investments are powering its price boom
BCA Research’s chief global strategist, Peter Berezin, predicted that Bitcoin’s Achilles heel will begin to scare off corporate investors off and cause governments to erect more obstacles to it success. The first to flee will be environmental, social, and governance-focused funds he said, adding that they will shun companies involved with Bitcoin, not just the cryptocurrency itself.
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India's biggest bank is looking at blockchain as the government plans to ban crypto (Photo: Wikipedia)Blockchain and digital currencies advance in Asia
India’s largest bank has joined JPMorgan’s Liink payments project as central banks from China, Thailand, and the United Arab Emirates join Hong Kong’s multinational digital currency project
The State Bank of India, which manages nearly a quarter of the nation’s assets as well as its loan and deposits market, decided to join JPMorgan’s blockchain payments system. Meanwhiles, the State Bank of India, a nationally owned retail bank, will use JPMorgan’s Liink blockchain system to make its cross border-payments faster and cheaper.
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Falling liquidity threatens Bitcoin rally: JPMorgan’s Panigirtzoglou
Analysts at the world’s top bank suggested that low liquidity means that a relatively-small sellout could have major implications for Bitcoin’s price
“Market liquidity is currently much lower for Bitcoin than in gold or the S&P 500, which implies that even small flows can have a large price impact," JPMorgan’s Nikolaos Panigirtzoglou said today.
