DeFI News by Thebittimes.Com

Right now, the Pi Network Binance listing rumors are getting louder, and honestly, it’s not just talk this time. At the time of writing, Pi Coin has shot up 6.7% to $0.62, which is pretty significant when you consider trading volumes have also spiked to around $124 million. What’s really interesting is that this price movement comes right as we’re hearing about Binance possibly testing Pi deposits and withdrawals —not to mention there’s that big Pi Network ecosystem announcement coming on May 14. Source: CoinGecko Also Read: BlackRock To Invest in XRP? High Net-Worth People Want Cryptocurrencies Will Binance List Pi Coin? Price Surge, Deposit Tests, and May 14 Update Explained Source: Watcher Guru So here’s the thing—Pi Coin struggled below $0.60 for weeks before finally breaking out of its slump. The numbers show it’s been bouncing between $0.5775 and $0.6477 in just the last 24 hours, which tells us traders are definitely getting active ahead of whatever news might be coming....

Rumors of problems with Ethena ’s $2.5 billion so-called stablecoin USDe have been fueled this week by reports that giant exchange ByBit — where Ethena trades some of its assets — is experiencing financial problems, possibly even insolvency . Some claim that the rumors were attributable to a dashboard error at Arkham while others believed them to be true. Observers noted a small amount of exchange outflows relative to ByBit’s total assets. ByBit itself has since refuted any claims of insolvency. Protos reached out to the exchange for comment but at time of publication has not received a response. Over the last seven days, neither the price of Ethena’s proprietary token ENA nor its stablecoin USDe have declined in price. For its part, Ethena claims to hold all of its collateral off-exchange at third-party custodians like Copper or Cobo. Although it clears trades via crypto exchanges, it claims to hold the collateral backing its positions, including ByBit perpetual futur...

Wylie Aronow, the co-founder of the Bored Ape Yacht Club, addressed rumors about his potential return to a leadership role in Yuga Labs and shared his confidence in the current leadership team.  Aronow acknowledged the public’s interest in his comeback but emphasized his ongoing health challenges, which have led to fluctuating levels of involvement in the company’s operations. Aronow detailed his health journey, highlighting the severity of his condition, which included emergency medical situations. Despite steady progress, the Bored Ape Yacht Club co-founder expressed that his health remains a priority, precluding him from resuming even part-time work responsibilities. Hey so I’ve seen a bunch of tweets this week asking / hoping I’ll come back to a leadership role at Yuga. I get where that sentiment is coming from. Couple of things on that: There’s days where I want to throw myself into the deep end, and there’s days, like yesterday, where I… — GordonGoner...