Binance Labs Invests $5M In Curve DAO Token To Propel DeFi Growth

Binance Labs, the investment and incubation subsidiary of Binance (CRYPTO: BNB), has announced a $5 million investment in Curve DAO Token (CRYPTO: CRV), the utility token that powers the Curve ecosystem. Curve has a total value locked (TVL) of approximately $2.4 billion and a daily trading volume of $215 million.

Timeline of Curve-dao-token

Curve DAO token (CRV) will deploy on BNB Chain as part of the deal with Binance Labs, the company's incubation and venture capital arm. The $5 million investment follows brief concerns about the DeFi stableswap exchange after exploiters drained over $70 million from CRV and ETH pools.

In a tumultuous week for the Ethereum blockchain, a remarkable spike in illicit flows emerged, coinciding with a major exploit involving Curve Finance, a prominent decentralized finance (DeFi) protocol. This incident marked Ethereum's most significant period of illicit activity for the year.

Here's a funny statistic: According to Rekt's global exploit loss leaderboard, even before a coalition of whitehats and security experts managed to claw back the majority of stolen funds, the Curve hack just barely cracked the top 30 all-time.

Curve, a leading decentralized exchange on Ethereum, was hacked for $70 million in July. Questions continue to linger around the platform's long-term viability and potential contagion risk.

Decentralized Finance (DeFi) stablecoin lending platform Curve Finance has shown evidence it is no longer deterred by the Vyper attacks it suffered a few weeks back. According to an update shared through its official X account, Curve Finance is now canvassing for community votes for its next venture, the stableswap pool.

Bond traders are eyeing a return to a type of trade that left them battered earlier this year - betting on yield curves returning to a more normal shape as slowing economies force central banks to cut interest rates.

Curve (CRV) is putting up a bounty to smoke out the hacker who drained the decentralized finance (DeFi) platform of tens of millions of dollars in crypto assets over a week ago. In a note posted on the Ethereum (ETH) blockchain explorer Etherscan, Curve says that it is now offering a $1.

Curve DAO (CRV) encountered notable obstacles in reestablishing its market equilibrium subsequent to a recent breach in its network security. After a network intrusion that jeopardized a portion of Curve DAO's (CRV) smart contracts and caused a monetary setback of $50 million, the value plummeted drastically.

Curve Finance, a popular DeFi project, is taking measures to identify the exploiter responsible for draining over $61 million from its pools on July 30. Although the hacker returned some stolen funds to projects Alchemix and JPEGd after being offered a 10% bug bounty, Curve Finance is now offering a $1.

Auditors, security experts, and white hat hackers are banding together after Curve's $73.5 million hack to provide emergency assistance. The working solution spearheaded by Paradigm's head of security Sam (@samczsun) is a telegram bot called SEAL 911.