Defy tokens traded mostly in the red last week with double-digit losses reported.

Welcome to Finance Redefine, your daily dose of important information on Decentralized Finance (DFI), a newsletter designed to update you on important developments over the past few weeks.

Celsius’s financial woes worsened last week when a new Counterinsurgency report found that the company’s balance sheet had a deficit of $2.85 billion, double what it filed for bankruptcy. Ave encouraged community members to participate in the Ethereum-of-Stake (POS) integration.

The Coinbase CEO said the exchange would rather limit its back-office services than regulate the network as a way to comply. This week, the cryptocurrency market took another turn as the Akala ecosystem saw its original stablecoin lose its mooring.
With the sudden price drop over the weekend, many Defi tokens were in the red and posted double-digit declines on the daily chart.

The Celsius Network cash report shows a balance deficit of $2.85 billion.
A new cryptocurrency bankruptcy report filed on August 14 shows that struggling cryptocurrency lender Celsius has a net debt of $2.85 billion, up from $1.2 billion in open bankruptcy filings.

The latest report shows that the company has $6.6 billion in total debt and $3.8 billion in total assets under management. When the company filed for bankruptcy, it showed assets of $4.3 billion compared to a debt of $5.5 billion, and a deficit of $1.2 billion.

Read on.

Coinbase Wants to Get Out of Control of the Internet – Brian Armstrong
Due to the recent ban of cryptocurrency mixing tool Tornado Cash and the arrest of Tornado Cash developer, there is a growing perception that crypto providers will choose decentralization or regulation as the way forward.

When asked if he wanted Coinbase and other companies to comply with compliance requirements and implement protocol-level controls or stop staking services, Coinbase CEO Brian Armstrong chose the latter.

Read on.

Another DiBig website: Acala Monitor report reveals $3 billion printing error.
Advanced security incidents remain a hot topic in 2022 as the early network joins a long list of vulnerable systems.

The Akala USD (AUSD) token, which serves as the native currency of the Polkadot and Kusama blockchains, is being exchanged on the IBTC/AUSD exchange. Token value in USD

Read on.

Ave Posh encourages participants to join the Ethiopian Series.
Ave token holders are required to participate in the Ave Request for Comments (ARC), which requires “compliance” with the Ethereum Share Agreement.

The ARC agreement, which was proposed on August 16, follows Ethiopia’s next proof-of-stake move. It encourages participants to choose the Ethereum mainnet as their new PoS consensus-driven “primary” governance system, and also gives them the right to stop Aave distribution on any other Ethereum fork.

Read on.

Kaidi Market Overview.
Analyst data shows that the overall value of closed Defy is virtually unchanged from last week as the market fell over the weekend. TVL has an estimated value of $66.21 billion. Data from Cointelegraph Markets Pro and TradingView shows that the top 100 Defy tokens by market cap finished lower this week, with several tokens posting double-digit losses.

Gnosis (GNO) is the only coin that is trading green in the top 100 of the daily chart. Other coins suffered double-digit losses last week.

Thanks for reading our review of this week’s best challenge events. Join us next Friday for more stories, ideas, and information in this dynamic space.

Source: CoinTelegraph.

Source: CoinTelegraph

Source: CoinTelegraph