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Maple Finance 2.0 to speed up process for loan defaults

Maple Finance has revealed a major protocol upgrade aimed at making defaults and liquidation procedures less burdensome in the wake of recent defaults.

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Maple Finance has revealed a major protocol upgrade aimed at making defaults and liquidation procedures less burdensome in the wake of recent defaults.

Maple Finance is a decentralized credit market powered by blockchain technology. Instead of requiring loans to be overcollateralized, it instead allows managers to issue loans from its lending pools based on a set of risk-management criteria, according to the protocol’s documentation.

But in the wake of FTX’s collapse, the platform experienced two major defaults from borrowers on the platform. Algo trading and market maker Auros Global missed its payment of 2,400 Wrapped Ether following Alameda’s demise, causing the loan to go into a five-day grace period. That grace period has since passed, and the borrower has begun to incur penalties.

Days later crypto hedge fund Orthogonal Trading admitted to having been severely impacted by the collapse of FTX, prompting M11Credit to issue a notice of default on the fund’s $36 million in loans.

The new protocol overhaul, dubbed Maple 2.0, will upgrade its smart contracts so that defaults such as these can be more quickly handled and settled by loan managers, known as pool delegates.

Pool delegates now provide first loss capital, meaning they are the first to suffer in the event of a default. The Maple team believes this will more closely align pool delegates’ interests with the interest of lenders. The upgrade also introduces the automatic compounding of interest, so that interest earned is automatically reinvested into the pool and does not need to be redeposited.

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Bitcoin price risks drop to $71K as Trump tariffs hurt US business outlook

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Bitcoin is setting its sights on the $71,000 mark as market conditions shift in response to geopolitical and economic developments, including a new tariff agreement and weakening U.S. business sentiment.

Recent market activity suggests that Bitcoin is benefiting from concerns over traditional economic indicators, with investors turning to digital assets as a hedge against economic uncertainty. A rare slump in U.S. business outlook has fueled speculation that risk assets, including Bitcoin, could see increased inflows.

Additionally, ongoing global trade negotiations and tariff adjustments have contributed to market volatility, prompting investors to seek alternative stores of value. Analysts suggest that if macroeconomic pressures persist, Bitcoin could continue its upward trajectory, potentially testing the $71,000 resistance level.

Despite short-term fluctuations, Bitcoin remains a focal point for investors navigating inflation concerns, regulatory shifts, and global economic trends. The coming weeks will be critical in determining whether Bitcoin can sustain its momentum and break through key price barriers.

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Crypto donations top $1B in 2024, gain traction after Myanmar, Thailand quake

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Changpeng “CZ” Zhao, the former CEO of Binance, has donated 1,000 BNB to aid relief efforts following a powerful earthquake that struck the Thailand-Myanmar border region. The donation, valued at approximately $600,000, aims to support those affected by the disaster and assist in recovery operations.

The earthquake caused significant damage in several areas, displacing residents and impacting local infrastructure. CZ’s contribution highlights the growing role of cryptocurrency in humanitarian aid, providing fast and transparent relief funding.

The donation will be distributed to organizations working on the ground to deliver emergency assistance, including shelter, food, and medical supplies. Crypto-based aid is increasingly being utilized in disaster response efforts due to its efficiency in reaching affected communities without the delays of traditional banking systems.

As the affected regions begin the recovery process, the crypto community continues to demonstrate how blockchain technology can play a meaningful role in global humanitarian initiatives.

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Hackers are selling counterfeit phones with crypto-stealing malware

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Security researchers have uncovered a wave of counterfeit Android devices preloaded with malware designed to steal cryptocurrency, posing a significant threat to users worldwide. The infected devices, which mimic popular smartphone brands, contain malicious software capable of hijacking digital wallets and siphoning funds.

The malware, embedded at the firmware level, allows attackers to gain remote access, intercept sensitive data, and execute unauthorized transactions. Because the malicious code is deeply integrated into the device’s operating system, it is difficult to detect and remove, making it a persistent threat.

Cybersecurity experts warn that unsuspecting buyers may unknowingly expose their crypto holdings to risk by purchasing these compromised devices from unverified sellers. Users are urged to exercise caution by only purchasing smartphones from trusted retailers and manufacturers.

The discovery highlights the growing sophistication of cybercriminals targeting the cryptocurrency sector. As mobile-based crypto transactions become more common, security measures such as hardware wallet usage and multi-factor authentication are increasingly essential to safeguard digital assets from emerging threats.

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