Latest news with #DeFiRenaissance
Yahoo
4 days ago
- Business
- Yahoo
Aave, Uniswap, Sky Tokens Surge Over 20% as SEC Roundtable Spurs DeFi Optimism
Decentralized finance (DeFi) tokens UNI, AAVE and SKY all rose by more than 20% on optimistic comments from SEC Chair Paul Atkins at a Monday roundtable discussion about the sector. Atkins instructed the regulator to explore exemptions to let decentralized finance (DeFi) firms conduct operations without as many restrictions. "The right to have self-custody of one's private property is a foundational American value," he said. The comments are a stark contrast to those made by the previous commission led by Gary Gensler, which was criticized for stifling innovation by imposing restrictive guidance on crypto firms. "Can you imagine a starker contrast with the previous SEC's approach?," said Noelle Acheson, analyst and author of Crypto Is Macro Now newsletter. "We expected Atkins to say some nice words around the potential for innovation to unleash new financial efficiencies," she wrote. "We didn't expect his support to be quite so emphatic." Industry members heralded the event as a symbolic milestone the event , June 9th "will be remembered as DeFi day," Changpeng "CZ" Zhao, founder of Binance, the largest crypto exchange by trading volume posted on X. "The DeFi Renaissance continues," said Arthur Cheong, founder and CEO of crypto investment firm DeFiance Capital. DeFi-related tokens well outperformed an already upbeat crypto market with bitcoin BTC bouncing to near record prices. Ethereum's ether ETH, a key hub for DeFi applications, also jumped over 8%. The broad-market crypto benchmark CoinDesk 20 Index was 4.7% up over the past 24 hours, while BTC gained 1.5% in the same in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Insider
4 days ago
- Business
- Business Insider
Silhouette Raises $3 Million For First Shield Exchange On Hyperliquid
Zug, Switzerland, June 10th, 2025, Chainwire Silhouette is ushering in a DeFi Renaissance, supported by RockawayX, Hivemind Amber Group. NGC, No Limit Holding, and Protagonist. Silhouette, the shield exchange on Hyperliquid that protects personal trade information, is building a new arena of opportunities for DeFi traders, where sophisticated strategies remain protected without compromise, following its $3 million pre-seed fundraising round. The round was led by RockawayX and included Hivemind Amber Group. NGC, No Limit Holding, and Protagonist. As a shield exchange, Silhouette is addressing DeFi's privacy issue without undermining the core value of decentralisation. It creates a protected order flow in a transparent market, creating capital that can move freely and with confidence. Traders no longer have to worry about their strategies being exposed from the moment they post their intentions on-chain, risking front-running and MEV losses. 'We're in the middle of a DeFi Renaissance but the current DeFi set up is imperfect without privacy. While traders are able to execute incredible trades at speed these strategies are exposed from start to finish. Where privacy has been introduced, it's been over optimised at the expense of user experience. Silhouette is striking that balance and bringing in a new kind of exchange, a shield exchange, that brings the liquidity and decentralization of DEX's while shielding traders so they can grow and execute sophisticated strategies,'said Chandler De Kock, Co-Founder and CEO of Silhouette. Unlike previous privacy-focused platforms, Silhouette is bringing a new emphasis on liquidity and accessibility. Protection for traders is key. With shielded trades, users' strategies can last longer without giving up the overall permissionless and decentralised foundations of onchain markets. Silhouette is not running centralized servers to protect trades, rather the team is building with decentralized TEE host providers. Hyperliquid's ecosystem offers the perfect environment to introduce shielded trading. This active trading community will be able to use the liquidity they have onchain and see better, longer lasting results of their trading game plans. 'We're excited to back Silhouette as it aims to build the leading protected pool solution in crypto. We believe the timing is right—Silhouette won't have to build liquidity and network effects from scratch. Rather, it's launching in the Hyperliquid ecosystem, which is fast-becoming a dominant trading venue for spot and derivatives, and thus fertile ground for dark pool infrastructure, as users seek to protect highly profitable on-chain strategies. The founding team's deep relationships in that ecosystem give them a unique edge to execute fast,' said Samantha Bohbot, Partner & CGO. This first round of funding provides the runway to bring the minimal viable product (MVP) to life. The team has started building this MVP with a testing phase expected following its deployment. Contact
