Vitalik Buterin Says He Done With DeFi Yield Farming Until Dust Settles

An increasing number of cryptocurrency investors are embracing yield farming, one of the latest innovations in the crypto industry, where crypto assets are used to aggregate income for the investors, in some cases up to 100% Annual Percentage Yield (APY). Even though yield farming as a form of decentralized finance (DeFi) can be profitable, some key players in the industry like the co-founder of Ethereum, Vitalik Buterin,  are still skeptical about the real sustainability and activities of the booming DeFi sector. For Buterin, in addition to disappointments associated with the DeFi craze like yield farming, he can only watch yield

TRON Foundation Launches DeFi Protocol SUN on the TRON Blockchain

TRON Foundation announced today that it has launched SUN Genesis Mining to grant users access to its DeFi meme coin named SUN.  The Foundation made this known in a blog post today, stating that the initiative, which will kick-off on September 2, 2020, will be self-governed by its members just like other existing DeFi projects, including MakerDAO, Compound Protocol (COMP), Yearn.Finance (YFI), among others.  However, unlike other DeFi projects, SUN will run on the TRON blockchain, thus promoting the possibility of establishing TRON’s DeFi self-governance community and achieve the same result recorded on Ethereum in recent times.   Potential investors interested

CipherTrace Develops Monero (XMR) Tracking Tool for the US Security Agency

Leading cryptocurrency intelligence company CipherTrace has developed a tool that will enable the United States Department of Homeland Security (DHS) to track illicit transactions involving Monero (XMR).  The cryptocurrency intelligence company made this known today in a press release stating that the newly developed forensic tool would help the security agency eliminate the difficulties associated with tracking XMR transactions.  According to CipherTrace, the tool has been integrated with its Inspector financial investigations product and equipped with several functions, including transaction search, exploration, and visualization tools of all Monero transactions.  The firm noted that the tracking tool would also help restore the

Gate.io Exchange User Commits Horrible $400,000 DeFi Blunder, Losing Tokens Forever

It can be argued that a key barrier to the adoption of decentralized finance (DeFi) applications and seemingly rewarding yield farming opportunities is how difficult it is for the average investor to understand how they work. A recent irreversible error from a user of popular crypto exchange Gate.io has further shown just how easy it is to lose money in DeFi without expert guidance, or at least basic knowledge of how to execute transactions using DeFi apps. Spotted by one of SushiSwap’s anonymous developers, Chef Nomi, the error pinpointedly involves the sending of $400,000 worth of USDT from a Gate.io

Uniswap Now Has More Daily Trading Volume Than Coinbase

As the cryptocurrency industry continues to grow, decentralize exchanges (DEXes) are getting bigger and now challenging their centralized counterparts in terms of daily trading volumes. Uniswap, a fully decentralized protocol for automated liquidity built on the Ethereum blockchain, is leading the DEX race and has been outshining several leading centralized exchanges that have been existing for years.  According to recent data first shared by Hayden Adams, an Ethereum developer and an inventor of the Uniswap Protocol, the last 24 hours was busy for Uniswap as the DEX recorded more traded volume than popular US-based exchange Coinbase.  Over the last 24

OKEx CEO: DeFi Bubble Burst Will Be Good for BTC and ETH, But This Ain’t Going Away 

The decentralized finance (DeFi) sector has continued to boom as various projects, including Yearn.Finance (YFI), Balancer (BAL), and Compound Protocol (COMP) have recorded massive gains within a few weeks after their launch.   Early investors who invested in these projects at the time of their launch made huge returns, while more inventors are still trooping into the DeFi space to share its enormous wealth.  The massive growth of DeFi has prompted enthusiasts of popular cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) to move into DeFi, thus causing a decline in the market cap of these early digital currencies.  DeFi craze

Fraudster Hijacks Biddeford Police Phone Numbers to Demand Bitcoin

Police officers in Biddeford, a city in York County, Maine, United States have detected an unknown person who keeps posing as one of the police officers demanding certain considerations from people and threatens to arrest them if they fail to comply. Press Herald reports today that the Biddeford police officers made investigations concerning the impersonation and discovered the scammer had manipulated his way to gain access to the police department’s phone number and is making calls to the residents of Maine, pretending the call was from the Biddeford police. According to the information gotten, The unknown person has previously posed

Binance and Integro Foundation Raises $1M in Crypto to Fight COVID-19

In its fight against the deadly coronavirus (COVID-19) pandemic, Integro Foundation alongside Binance Charity Foundation has raised $1 million in cryptocurrencies to provide 500,000 KN-95 Masks for frontline workers and the vulnerable globally.  According to a press release shared with Coinfomania today, the Puerto Rico-based philanthropic organization made support of $330,000. At the same time, Binance doubled this donation, to boost the coverage of its “Crypto Against COVID” campaign across more nations.  The 500,000 KN-95 Masks will be shared equally to frontline workers and the vulnerable across different nations, including Brazilian Amazon, Argentina, Ghana, Nigeria, South Africa, Dominican Republic, Bermuda,

Russian Man Faces Trial Over a $1M Bribe in Bitcoin (BTC) to Plant Malware

Egor Igorevich Kriuchkov, a Russian citizen, has been arrested for attempted bribery of $1 million to a staff of a Nevada-based company to urge him to illegally plant malware in the company’s computer system as reported by the US Department of Justice (DOJ). According to the announcement, Kriuchkov had planned a conspiracy with the Nevada staff member to set up a malware into a colleague’s computer as efforts to steal pieces of information from the company’s network. Hence, demand a ransom from the company with the threat of making the story go public if the company fails to pay up.

Contradiction: Peter Schiff’s Son Already Has $450 Worth of Bitcoin

Spencer Schiff, son of Peter Schiff, the CEO of Euro Pacific Capital, revealed in a tweet today on his Twitter page that he now owns about $450 worth of Bitcoin, which is about 0.06271268 BTC. The young investor who just turned 18 yesterday unlike his father in terms of interest in Bitcoin, perhaps showing that younger investors are more favorably disposed to Bitcoin since his father is a self-proclaimed Bitcoin critic and hater but a famous gold bug. I already have about $450 worth of Bitcoin — Spencer Schiff (@SchiffSpencer) August 27, 2020 Peter Schiff, who always looks for avenues