Crypto exchange dYdX increases margins after $9m loss
Decentralized cryptocurrency exchange dYdX has introduced new measures to reduce trading risks after burning $9 million of its insurance fund on Nov. 17 to cover users’ losses. According to the statement, the crypto exchange has increased margin requirements in several “less liquid markets.” This affected the following tokens: Eos (EOS), 0x Protocol (ZRX), Aave (AAVE), Algorand (ALGO). Internet Computer (ICP), Monero (XRM), Tezos (XTZ), Zcash (ZEC), SushiSwap (SUSHI), THORChain (RUNE), Synthetix (SNX), Enjin (ENJ), 1inch Network (1INCH), Celo (CELO), Yearn.finance (YFI), Uma (UMA). dYdX introduced its insurance fund to cover user losses on Nov. 17. Before this, a profitable trade targeting long positions in the YFI token resulted in nearly $38 million in positions being liquidated. Last night about $9m from the dYdX v3 insurance fund were used to fill gaps on liquidations processed in the YFI market. The v3 insurance fund remains well funded with $13.5m in funds remaining...