Category: DeFi Digest
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Bitget enters real-world asset race with yield-bearing BGUSD stable asset
Bitget launches BGUSD, a yield-bearing stable asset backed by tokenized real-world assets like Treasury bills, offering 4% annual yield credited daily to users’ accounts.
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Cetus Hack: The Familiar ‘Lax Crypto Security Playbook’ Strikes Again – Brave New Coin
Cetus Protocol, a DEX on Sui and Aptos, lost $223M due to an overflow flaw. Despite prior warnings, the vulnerability was unaddressed. Validators froze $163M, sparking decentralization debates.
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Alpaca Finance Shuts Down After 4 Years, $ALPACA Plunges 30%
Alpaca Finance, a BNB Chain DeFi pioneer, is shutting down after 4 years due to financial strain and market shifts. Its ALPACA token dropped 30% following the announcement.
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Sui’s $10M Security Overhaul Post-$223M Exploit: Can It Prevent Another Cetus-Style Crisis? News ETHNews
Sui Network pledges $10M for security upgrades after a $223M exploit on Cetus Protocol. Funds will go to audits, bounties, and tools to prevent future breaches and restore confidence.
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YZi Labs investment sends Avalon Labs AVL token through the roof – CoinJournal
YZi Labs’ investment in Avalon Labs caused a 30% surge in AVL token price. Avalon has minted $613M in BTC-backed USDa stablecoins and aims to provide institutional-grade Bitcoin DeFi services.
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Alpaca Finance to Sunset All Products and Shut Down After Four Years Following Binance Delisting
Alpaca Finance, a DeFi platform, is shutting down all operations after four years following its delisting from Binance, marking the end of its services.
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Arthur Hayes’ Maelstorm Fund Makes Strategic Investment in DEX Hyperion
Arthur Hayes’ Maelstorm Fund has invested in decentralized exchange Hyperion, signaling strategic support for DEX innovation and growth in the crypto space.
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YZi Labs invests in Avalon Labs to advance Bitcoin-powered finance
YZi Labs invests in Avalon Labs to advance Bitcoin-powered finance, focusing on regulated on-chain Bitcoin financial services and Bitcoin-backed lending products like USDa stablecoin.
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CZ’s YZi Labs Ignites Avalon, Bitcoin DeFi’s $500M Ecosystem
CZ-backed YZi Labs invests in Avalon Labs, a Bitcoin DeFi platform with $500M TVL, offering BTC-collateralized lending, stablecoin USDa, and credit services, aiming to scale globally with regulatory compliance.
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Crypto Funding: Hyperdrive Raises $6 mn to Build Stabelcoin Money Market
Hyperdrive raised $6M in Series A funding to build a stablecoin money market on Hyperliquid blockchain. The protocol aims to provide yield for idle stablecoins, launching May 27 with USDe lending and borrowing against BTC, ETH, or HYPE.
