As the world becomes increasingly digital, so too is the way we manage our finances. Decentralized finance (DeFi) platforms have been gaining popularity in recent years, offering a new way to access financial services that is more accessible, transparent, and secure than traditional finance. DeFi platforms are built on blockchain technology, which enables users to access financial services without the need for intermediaries such as banks. Instead, transactions are processed through smart contracts, which are…
Moody’s, the credit rating agency, has issued a warning about the ongoing banking crisis in the United States, stating that it could potentially cause severe spillover effects beyond the banking sector. The agency had recently downgraded the U.S. banking sector from “stable” to “negative,” citing concerns about rising loan losses and deteriorating profitability. Moody’s managing director of credit strategy explained that the country “will be unable to curtail the current turmoil,” which could lead to…