Bitcoin Daily: Terra becomes the second largest DeFi

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Terra, a decentralized payments network, has become the second largest blockchain for decentralized finance (DeFi) in terms of total locked-in value, Coinbase reported.

Terra is behind Ethereum and crossed Binance Smart Chain (BSC) this week, according to the report.

Terra has 13 projects worth more than $ 18.2 billion, which averages over $ 1.4 billion per protocol, according to the report.

In other news, the IRS confiscated $ 1.2 billion in cryptocurrency in 2021, eight times the amount of $ 137 million in 2020, CVBJ.biz reported.

Jarod Koopman, head of the IRS’s cybercrime unit, said the division tracks crypto for crimes including tax evasion, false income tax returns and money laundering, according to the report.

Meanwhile, bitcoin rose 5% on Tuesday, December 21 after several days of decline, Cointelegraph reported.

The boost came from a turnaround in the Turkish lira, which rebounded as much as 40% against the US dollar overnight, according to the report.

It comes as Recep Tayyip Erdogan, President of Turkey, announced new consumer protections to attract investors to lire, according to the report.

In addition, Bitcoin Solutions has partnered with prepaid services company Epipoli to offer the BitCard in 50,000 outlets and digitally across Europe, according to a press release.

The BitCard is a bitcoin gift card. BitCard’s platform offers a guard gateway that is secure and easy to use. With Epipoli’s partnership, the card will be available at grocery stores, newsstands and more, the statement said.

“Epipoli is passionate about adopting technologies that give our customers and partners the flexibility they need to thrive,” Epipoli CEO Gaetano Giannetto said in the statement. “Our partnership with BitCard allows us to provide a product of unique value that meets the evolving needs of our diverse customer base. “

Finally, Deutsche Telekom, Europe’s largest telecommunications company, has backed Polkadot, an executive in public blockchains, CoinDesk reported.

By providing support to Polkadot, Deutsche Telekom will provide node execution infrastructure and has purchased a “significant” amount of DOT tokens, the native cryptocurrency of Polkadot, according to the report.

It also led Deutsche Telekom to integrate a crypto trading function into its accounting system, the report says.

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