The evolution of crypto lending is continuing at pace, with new projects regularly coming onstream. These platforms, most of which exist in the decentralized finance (DeFi) realm, offer users the ability to obtain loans without having to contend with intermediaries and accept counterparty risk. In concert with asset issuance, payments, governance, and insurance, crypto lending is helping to construct a new and fairer blockchain-based financial system. Crypto Lending Ecosystem Expands The crypto lending landscape currently […]

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CryptoNinjas » Deerfi’s permissionless flash loan marketplace now live on Ethereum

Deerfi, a lending protocol for Uniswap liquidity providers, has announced that its Deer FlashLoan protocol, a permissionless flash loan marketplace, is now live on the Ethereum mainnet. Flash loans are compelling with lots of use cases such as performing arbitrage strategies, executing liquidations, swapping collaterals, and many other creative use cases. However, the current flash […]

CryptoNinjas » Deerfi’s permissionless flash loan marketplace now live on Ethereum

Akropolis Decentralized was formed with a goal of creating a distributed savings and pension fund, but it has grown into so much more...

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24-year-old man defrauded clients of their cryptocurrency-oriented hedge funds, squeezing $90M worth of various digital assets.

A 24-year-old founder of two cryptocurrency hedge funds has pleaded guilty to securities fraud worth about $90 million.

The post Crypto hedge fund founder admits to nearly $90 million securities fraud appeared first on The Block.

Quick Take

• Flash lending allows Ethereum users to get capital for any action as long as they return these tokens to the liquidity pool at the end of the transaction.
• The most beneficial flash loan provider is dYdX, which allows borrowers not to pay a fee for the use of funds.
• While Aave is most commonly associated with flash loans, it is used less frequently than its competitors and is likely only due to its easy integration.
• Uniswap v2 flash swaps produced $7.5M fees for liquidity providers due to multiple DeFi attacks.

The young crypto fund manager stole his investors’ money to fund a lavish lifestyle and invest in ICOs.