All articles tagged with #decentralized exchange
Ostium, a decentralized exchange founded by Harvard graduates, has raised $20 million in Series A funding to develop a platform for trading derivatives on real-world assets and cryptocurrencies, aiming to compete with traditional brokerages and target non-U.S. investors outside the crypto-native community.
Rumors suggested Binance founder CZ was advising Aster DEX, but he clarified he is only an advisor and not officially involved. Despite this, Aster's token experienced a significant surge, reflecting strong market interest, though its long-term prospects remain uncertain amid competition and market dynamics.
Lyra Finance, a decentralized BTC options marketplace, indicates a 20% chance of Bitcoin surpassing $70,000 by the end of April, with options data suggesting this possibility. Traders are speculating on price trends ahead of and following Bitcoin's reward halving in mid-April, and the consensus is that Bitcoin could see further gains due to fiscal policy in the U.S. and a declining global recession probability. As the world's largest decentralized crypto options venue, Lyra accounts for 50% of the global DEX options volume and has listed Bitcoin options with an expiry date of April 26, allowing traders to bet on the price action surrounding the reward halving.
Bitcoin has surged nearly 10% to surpass $43,000 ahead of the Fed's rate decision, with altcoins SOL and AVAX leading the rally. Binance now allows larger traders to store assets at independent banks amid regulatory concerns, while decentralized exchange Portal has raised $34 million in seed funding to facilitate peer-to-peer bitcoin swapping across blockchains. The crypto industry's brightening prospects for raising capital and growing interest in bitcoin within the DeFi world are evident.
Solana-based trading aggregator Jupiter has seen a significant increase in trading volumes, settling over $500 million in trades in the past 24 hours ahead of its planned token issuance. With 550 tokens and more than 5,550 trading pairs listed, Jupiter has overtaken Uniswap v3 to become the biggest trading platform by that metric. The platform routes orders to several Solana-based exchanges and executes the best available price for an asset when a trade is requested. Jupiter's JUP tokens are expected to be issued on Wednesday, with nearly 1 million Solana wallets qualifying for a slice of the unusually large airdrop, reflecting Jupiter's popularity with traders and expected to boost activity on Solana.
The U.S. Department of Justice has arrested a security engineer, Shakeeb Ahmed, on charges of wire fraud and money laundering, accusing him of stealing $9 million worth of cryptocurrency from an unnamed decentralized exchange. Ahmed allegedly exploited a vulnerability in the exchange's smart contracts, creating fake pricing data to generate inflated fees that he then withdrew. He attempted to launder the funds by converting them into different cryptocurrencies and moving them across blockchains. While the DOJ did not name the exchange, the details align with last year's theft from Crema Finance, a Solana-based decentralized exchange. Ahmed offered to return most of the funds in exchange for not involving law enforcement.
Shakeeb Ahmed, a former senior security engineer at an international technology company, has been arrested and charged with wire fraud and money laundering for defrauding a decentralized cryptocurrency exchange. Ahmed allegedly exploited a vulnerability in the exchange's smart contracts, causing it to generate approximately $9 million in inflated fees, which he fraudulently withdrew. He then attempted to launder the stolen funds through complex transactions on the blockchain. Law enforcement agencies, including Homeland Security Investigations and the Internal Revenue Service, tracked Ahmed's activities and arrested him in New York. If convicted, Ahmed faces a maximum sentence of 20 years in prison.