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The Defiant Profile picture
@DefiantNews
Jul 6 • 1 tweets • 1 min read • Read on X
JUST IN: YIELD GUILD GAMES IS SUNSETTING YGG PLAY

Yield Guild Games is sunsetting @YGG_Play, its game publishing unit, eliminating 35 jobs, co-founder @gabusch announced Monday.

The move highlights the sharp turn some of the biggest projects in the play-to-earn and NFT cycle of 2021 have taken.

Read more here:
thedefiant.io/news/nfts-and-…Image

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More from @DefiantNews

The Defiant Profile picture
Apr 3, 2023
🚀 The scalability of #Ethereum is right around the corner, and zero-knowledge rollups play an important role in this!

🤔 But do you know what they are and how they work?

Thread 👇🧵
⛓️ Blockchains can be slow and expensive due to their distributed structure.

Zero-knowledge (ZK) #rollups use the minimum data necessary to verify transactions by unburdening #Ethereum from excess network workload. This makes the network both faster and cheaper. 🚀
📈 Judging by the TVL, rollups are by far the most popular scaling technology for Ethereum.

There are two types of rollups: Optimistic and Zero-Knowledge (ZK).
Read 13 tweets
The Defiant Profile picture
Nov 24, 2022
JP Morgan recently made history as the first major bank to execute a LIVE DeFi trade 💹🤯

@TyLobban is the head of @JPMorgan's blockchain-focused unit, named 'Onyx', which executed the trade.

Here's Ty on how TradFi can successfully enter into DeFi 🧵👇
1/ First, what are the benefits of blockchain for TradFi?:

- The ability to exchange financial information in a better way, and deliver new insights thanks to a distributed ledger technology.

- The transfer of value. Specifically, money.
2/

- The tokenization of traditional assets. Bringing them into blockchain, and creating new products.

"You have this infra that is fully persistent, always on, highly available, and redundant. That's a really good place to be if you're looking to settle transactions."
Read 13 tweets
The Defiant Profile picture
Nov 12, 2022
BREAKING: Hundreds of millions of dollars are flowing out of @FTX_Official wallets into one wallet, with current totals surpassing ~$390M
Etherscan link: etherscan.io/address/0x59ab…
Highly suspicious activity 🤔

- Some FTX users report their accounts have been drained to $0

- Many withdrawals are swapping $USDT to $DAI

- Assets are moving on other chains with ~$90M on #BNB
Read 8 tweets
The Defiant Profile picture
Nov 10, 2022
💣The spectacular collapse of crypto exchange @FTX_Official roiled crypto markets this week, sending #Bitcoin plunging to a 2-year low.

How did things go so wrong, so fast?

Here's everything you need to know🧵
Prior to this week, FTX was a derivatives powerhouse with over $10B in daily volume.

FTX and crypto hedge fund Alameda Research are pillars of the crypto empire headed by @SBF_FTX, who was hailed as crypto's savior earlier this year after bailing out various troubled entities.
On Nov. 2, @CoinDesk published a report based on an internal document from Alameda.

It revealed that the majority of Alameda's nearly $15B in assets in the second quarter were made up of $FTT, a token issued by sister concern @FTX_Official and other illiquid @solana eco assets.
Read 12 tweets
The Defiant Profile picture
Nov 5, 2022
ALL of DeFi could potentially become ILLEGAL?! 🤯

The CFTC's case against Ooki DAO will set precedent that could forever alter the future of DeFi.

However, Gabriel Shapiro (@lex_node) believes the CFTC's position can be attacked on two assumptions.

Here's the argument 🧵👇
1/ First, some context:

The Commodity Futures Trading Commission (CFTC) recently sued Ooki DAO, a decentralized autonomous organization.

The CFTC alleges they offered leveraged/margin trading products without being registered in the U.S. as a Futures Commission Merchant (FCM).
2/ The problem is...

The CFTC targeted Ooki DAO under current law, in which the CFTC already has legal interpretations and arguments that, if proven in court, would kill DeFi as we know it.
Read 12 tweets
The Defiant Profile picture
Oct 12, 2022
Four hacks in one day might be a new record 🤯

More than $115M was stolen from DeFi protocols TODAY.

👇
1/ @Rabby_io's Rabby Swap smart contract contained an exploit resulting in the loss of ~$200,000

2/ @paraswap was found to have a vulnerable deployer address thanks to the Profanity exploit

Read 6 tweets

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