Binance's $5M CRV Investment: Fortifying DeFi

Binance Labs, the venture capital and incubation division of Binance, has plunged $5 million into the Curve DAO Token (CRV), cementing its stance in the DeFi realm. Support From Industry Bigwigs The $5 million investment from Binance Labs in the CRV token is part of a strategic deal under which Curve will explore deployment to the BNB Chain.

Timeline of Curve-dao-token

The injection of $5 million from Binance Labs transcends a simple financial transaction; it represents a collaborative effort focused on strengthening Curve's security infrastructure and aiding the protocol in recovering its stability.

Curve Finance's stETH pool dwindles as liquidity drains, raising queries about Ethereum's staking dynamics. Amidst outflows, the platform navigates challenges while ETH flow remains steady.

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.

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.

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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.