Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. This week brought troubling news: Crypto hackers have stolen over $1.2 billion in 2024, a 15.5% increase from 2023. Could they be on pace to exceed the total value stolen in 2023? In more positive news for investors, bankrupt crypto lender Celsius has finally made two-thirds of its customers whole after repaying $2.53 billion to 251,000 creditors. Celsius owes a total of $3 billion to over 375,000 creditors.
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will there be drops?
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Bitcoin miner Bitfarms has approved a new shareholder protection strategy to prevent a hostile takeover by rival Riot Platforms. On June 24, the Ontario Capital Markets Tribunal ruled in favor of Riot, ordering Bitfarms to immediately terminate its previous plan. The initiative, commonly referred to as the “Poison Pill,” adopted in June, would have required the company to issue new shares if a third party accumulated 15% of its shares, diluting the buyer’s stake.
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