Sushi to test Bitcoin swaps and Opyn DeFi protocol founders cave to CFTC pressure: Finance Redefined


17 Nov 2023 7:25 PM

Most of the top 100 DeFi tokens had a bullish week due to the overall positive momentum in the crypto market, with TVL remaining above $50 billion....

  • A new DeFi report highlights that a significant amount of crypto lost to exploits was due to traditional Web2 flaws and security issues.
  • Sushi, a decentralized exchange (DEX) platform, is testing Bitcoin swaps on 30 blockchains using the interoperability platform ZetaChain.
  • The founders of the Opyn DeFi protocol have stepped down from their positions following enforcement action by the CFTC.
  • The DeFi ecosystem continues to flourish, with most tokens trading positively on the weekly charts.
  • A report suggests that nearly half of all crypto lost from Web3 exploits is due to Web2 security issues.
  • Sushi has partnered with ZetaChain to explore native Bitcoin swaps across multiple blockchain networks.
  • The founders of Opyn are leaving the crypto space after settling an enforcement action.
  • Ethereum layer-2 networks have reached $13 billion in total value locked (TVL) within their contracts.
  • DeFi's top 100 tokens had a bullish week, with the total value locked remaining above $50 billion.

The overall sentiment of the article is mixed. While there are positive developments in the DeFi ecosystem and the growth of Ethereum layer-2 networks, there are also concerns about security issues and enforcement actions.

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You May Ask

What are the main reasons for the significant amount of crypto lost to exploits in the DeFi ecosystem?How is Sushi testing Bitcoin swaps on multiple blockchain networks?Why did the founders of the Opyn DeFi protocol step down from their positions?What challenges do Ethereum layer-2 networks face despite their growth in total value locked?What is the current total value locked in DeFi protocols and how has it performed recently?

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