China News by Thebittimes.Com

Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. The eyes of the world are on the trial of FTX founder and former crypto poster-child Sam Bankman-Fried, who has morphed into a symbol of the worst excesses of the last crypto bubble. But the media circus that surrounds proceedings is more true-crime series than legitimate commentary on decentralized finance. You might also like: The landscape of crypto exchanges never stops changing | Opinion It is true that defi has been on a roller coaster over the past several years. The sector exploded onto the financial and technological scene in 2021 as groundbreaking new tools allowed people to put their money to work and earn yield in unprecedented ways through participation in networks such as MakerDAO and Aave. Despite the seeming suddenness of its arrival, this breakthrough was a long time coming. For decades, if not centuri...

This new project frees decentralized finance of its weak points, unlocking the liquidity of Bitcoin for DeFi projects. Bitcoin (BTC), the original cryptocurrency with the largest market cap, continues to lead the crypto market — to both the green and red. Even though the crypto space gave birth to quite a few projects, the rest of the herd is no match for the brainchild of Satoshi Nakamoto for financial transactions. The unique unspent transaction output (UTXO) model used for the Bitcoin blockchain enables BTC to act much like a paper currency, resulting in superior security and robustness as a peer-to-peer currency. Especially compared to the bank-account-like model that Ethereum-based DeFi solutions typically adopt. As the pioneering cryptocurrency, Bitcoin presents massive liquidity, but Ethereum-based DeFi solutions have yet to develop a secure and effective way to tap into that. DeFi already met Bitcoin, but there was a catch With the introduction of the Taproot upgrade, which en...

On-chain activity suggests that the hacker has sent at least 225 BTC (4.5 million) to OKX so far. Hackers who drained FTX and FTX USA of over $450 million worth of assets just moments after the doomed crypto exchange filed for bankruptcy on Nov. 11, continue to move assets around in an attempt to launder the money.  A crypto analyst who goes by ZachXBT on Twitter alleged that the FTX hacker s have transferred a portion of the stolen funds to the OKX exchange, after using the Bitcoin mixer ChipMixer. The analyst reported that at least 225 BTC — worth $4.1 million USD — has been sent to OKX so far.  1/ Myself and @bax1337 spent this past weekend looking into the FTX attacker’s deposits to ChipMixer. It appears they’ve likely been transferring a portion of the stolen FTX funds to OKX after withdrawing from CM So far we’ve accounted for at least $4.1m (255 BTC) sent to OKX pic.twitter.com/C46JZWtktn — ZachXBT (@zachxbt) November 29, 2022 According to ZachXBT, the FTX hacker fir...