Crypto Payment Options Announced, Federal Reserve Official Addresses Bitcoin
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Late last week, BitPay, a leading provider of cryptocurrency payment services, announced that U.S. users of its prepaid debit card, which allows users to make purchases using cryptocurrencies, can add their card to the digital wallet of a major U.S. technology firm’s mobile payment application to enable secure in-store, app and online purchases using cryptocurrencies. A press release noted that BitPay cardholders would also soon be able to use the digital wallets provided by two other major technology firms. Also last week, a global provider of digital marketing promotions announced a new reward program that provides users with a gift card that enables the recipient to receive bitcoin. The cardholder can deposit the bitcoin in an existing cryptocurrency wallet, or set up a new one, with instructions from the provider.
$37.5 Million stolen from Alpha Finance in another DeFi attack
Last Updated: 13 February 2021
A recent report revealed that a hacker has succeeded in stealing $37.5 Million from Decentralized Finance (DeFi) projects Alpha Finance in a flash-loan attack.
Although many initially suspected that the vulnerability was found in Cream Finance, the latest finding showed that the exploit was visible in the Alpha Hormora V2 product.
This is not the first flash-loan attack, but it’s the largest ever. After the DeFi Cream Finance posted its details, indicating that the hack didn’t come from the protocol, Alpha finance posted an update on the Alpha Homora V2 as the origin of the exploit.
New Report Highlights Strong Quarter for DeFi Project Yearn Finance
Last Updated: 10 December 2020
Yearn Finance has been one of the shining projects in the decentralized finance (DeFi) space for 2020. This week, investors and industry insiders glimpsed into some of its financial details. DeFi community members compiled an informal report on Yearn Finance for its first operational quarter. Most notably, it showed that the project had paid a significant portion of its revenues to stakers.
Healthy Finances as Yearn Finds Its Footing
The report is yet to be audited and hasn’t gotten any cosigns from Yearn Finance or its creators. Spanning August 20 to October 20, it shows that the DeFi protocol generated $3.79 million in net income.