GHO Stablecoin to be launched as Aave DAO gives a 99.9% approval

A governance proposal to create a crypto-backed stablecoin on the Aave protocol has been unanimously approved by the Aave community in a snapshot voting which lasted till Sunday. On July 7, 2022, a proposal was introduced by Aave Companies (development team of Aave protocol) for the launch of GHO, an overcollateralized and US dollar-pegged stablecoin. … Read more

Celsius officially declares bankruptcy after paying down DeFi loans

CNBC reported Wednesday night that Celsius has informed: “state regulators that it’s filing for bankruptcy ‘imminently.” The company will move toward chapter 11 bankruptcy as it struggles to deal with its liquidity issues. Early Thursday morning, Celsius announced that they had, in fact, “initiated voluntary Chapter 11 proceedings.” In the press release, Celsius revealed it … Read more

BlockFi confirms it holds 50% of client funds in short-term positions with 10% in collateral

BlockFi appears to be managing damage control as it sent out an email to users Wednesday evening for investors “looking for reassurance in this crypto bear market.” The email confirmed that BlockFi continues to put risk management first while navigating market volatility. Battle-tested and leadership Interestingly, the company that just received a $400 million credit … Read more