DeFi has changed a LOT this week.
Here are 10 massive updates you might’ve missed:
• Stream Finance loses $93M in major exploit
• Track your DeFi positions directly in wallet
• Drift launches custom leverage per market
Don't get left behind 🧵
1. @StreamDefi Loses $93M in Major DeFi Exploit
External fund manager disclosed loss of ~$93M in fund assets.
All withdrawals and deposits suspended during investigation.
Stream is engaging in legal pursuit.
Yesterday, an external fund manager overseeing Stream funds disclosed the loss of approximately $93 million in Stream fund assets.
In response, Stream is in the process of engaging Keith Miller and Joseph Cutler of the law firm Perkins Coie LLP, to lead a comprehensive investigation into the incident.
We are actively withdrawing all liquid assets and expect this process to be completed in the near term
To keep our stakeholders informed, we will provide periodic updates as additional information becomes available. Until we are able to fully assess the scope and causes of the loss, all withdrawals and deposits will be temporarily suspended. Any pending deposits will not be processed at this time.
Our decision to retain Perkins Coie LLP reflects Stream’s unwavering commitment to transparency and robust corporate governance.
2. @ecb Announces Digital Euro Could Launch in 2029
Moving to final preparatory phase.
Digital euro would complement banknotes for digital payments across the world.
Will a decentralized version step up to compete?
4. @Circle Bringing USDC to @monad Mainnet Day 1
Circle deploying USDC, CCTP V2, Circle Wallets, and Circle Contracts to support developer ecosystem on Monad.
Ensuring DeFi can flourish on Monad from launch.
5. @DriftProtocol Launches Custom Leverage Per Market
Set different leverage limits on each market.
Trade BTC at 15x, SOL at 25x, WIF at 5x in the same account.
More flexibility for risk control on Drift.
6. @Circle's Arc Blockchain Enters Public Testnet
@arc testnet now live globally. Features stablecoins as gas, sub-second finality, and open rails for the world.
Circle launching its own blockchain.
7. @solana Rings Closing Bell at NYSE
JPMorgan CEO Jamie Dimon says crypto, blockchain, stablecoins, and smart contracts are real - "It will be used by all of us."
TradFi leaders shifting their view on DeFi.
10. @aave Nearing $1 Trillion All-Time Loans
Aave approaching historic $1 trillion milestone in cumulative loans across all markets.
A new record is near.
That's a wrap on this week's DeFi news.
Which update surprised you most?
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