Wrapped Bitcoin—an ERC-20 token that is backed on a 1:1 basis with BTC—is now being accepted as collateral for MakerDAO loans. It’s a significant development, not least because the crypto community has lamented the lack of a bridge between BTC and ETH for some time.
With new price oracle, Coinbase wades into DeFi
The crypto giant says current methods used to verify prices are deeply flawed, but claims its oracle could reduce ‘systemic risks’
Aiming to "reduce systemic risks" in the DeFi ecosystem, Coinbase is launching a new price oracle that will provide up-to-date rates on BTC/USD and ETH/USD every 60 seconds.
Andreessen Horowitz plots second crypto fund—and it’s even bigger
Hot on the heels of a $350m fund back in 2018, the venture capital firm is seeking to raise an additional $450m for a brand-new investment vehicle
It was an early investor in the likes of Facebook and Twitter—now, Andreessen Horowitz is planning to deepen its involvement in crypto. The venture capital firm, also known as a16z, is reportedly aiming to raise $450 million for a second cryptocurrency investment fund.
MakerDAO lawsuit seeks $28 million over ‘Black Thursday’ losses
A scathing court document alleges that the Maker Foundation ‘misrepresented the actual risks’ that borrowers faced in the event of a sudden price drop
It was only a matter of time until the MakerDAO lawsuit appeared. On April 14 the Maker Foundation was hit with a $28 million class action suit after the “Black Thursday” crypto crash last month at exposed fundamental flaws in its decentralized lending platform.