As a proof-of-stake layer-1 protocol, ParallelChain intends to deliver an architecture that operates in confidentiality while allowing to validate transactions.
The centralized crypto lender rejected an had offer from FTX after it filed for Chapter 11 bankruptcy reorganization in July after 3AC defaulted on a loan and its debts topped $1 billion.
The Bitcoin lender has sought advice from Citigroup on how to acquire distressed crypto firms amid the bear market.
With liquidity drying up in the wake of CeFi contagion, borrowers are turning to decentralized finance for their credit needs.
A panel at the Blockchain Futurist Conference was asked about the future of decentralized finance and what was needed to be done to bring about mainstream adoption.
The crypto industry has endured some infamous bear markets, and the 2022 downturn will be remembered for its acid test of decentralized finance platforms and over-leveraged trading.