3
Apr, 2025
ParaSwap rebrands to Velora, introduces intent-based DEX trading feature
Altcoin News, Bitcoin News, Crypto Analytics, Crypto Industries & Currency Updates
Decentralized exchange (DEX) aggregator ParaSwap announced its rebrand to Velora and is moving on to a new intents-based trading feature.
According to an announcement shared with Cointelegraph, Velora’s just introduced its Delta v.2.5 upgrade. This supposedly results in improved flexibility and agility in trade execution on the DEX.
Paraswap has seen 18,000 monthly active users over the last month with 4.3 million smart contract interactions over the past 365 days, according to TokenTerminal data. The platform first introduced intents-based trading back in the summer of 2024, with hopes that it would mitigate the negative impact of maximum extractable value (MEV) bots.
Since then, ParaSwap submitted orders in three steps. First the order is preprocessed defining the expected trade price, then this is submitted to an auction to determine the most efficient execution strategy considering liquidity and timing. The winning agent executes the trade while taking the user’s intent into account and purportedly minimizing MEV exploitation risks.
Related: Hyperliquid DEX trading volumes cut into CEX market share: Data
A crypto MEV bot is an automated program that exploits profit opportunities in blockchain transaction ordering—using tactics like front-running and arbitrage to capture extra value. The project’s founder Mounir Benchemled said at the time:
The presence of MEV impacts not only individual transactions but also the overall fairness, accessibility and decentralization of the DeFi ecosystem, making it one of the most pressing issues that needs addressing.”
Velora’s intent-based trading implementation
Velora’s implementation of intent-based trading is more customizable, giving the user “full control over their execution preferences, unlocks advanced features like limit orders, overcoming the constraints of single-block execution and increasing flexibility.” The new aggregator is also reportedly designed to allow for seamless cross-chain trading and enhanced performance.
Related: Curve Finance clocks $35B trading volume in Q1 2025
Sergej Kunz, Co-Founder of DEX aggregator 1inch, told Cointelegraph that “end users shouldn’t have to worry about the complexities” of decentralized finance. According to him, an intent-based system removes much of this complexity:
“An intent-based system is designed to shift all risk and complexity away from users and into the hands of professionals who specialize in executing advanced DeFi strategies. A true intent-based DEX must provide MEV protection at the protocol level and offload execution complexity to professional trading bots.“
Magazine: Financial nihilism in crypto is over — It’s time to dream big again
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Learn MoreParaSwap rebrands to Velora, introduces intent-based DEX trading feature
3
Apr, 2025
US sanctions 8 crypto wallets tied to Garantex, Houthis
Altcoin News, Bitcoin News, Crypto Analytics, Crypto Industries & Currency Updates
The US Treasury Department sanctioned eight cryptocurrency wallet addresses linked to Russian crypto exchange Garantex and the Houthis.
The United States Office of Foreign Assets Control (OFAC) sanctioned eight crypto addresses that data from blockchain forensic firms Chainalysis and TRM Labs had linked to the organizations. Two are deposit addresses at major crypto platforms, while the other six are privately controlled.
Visualization of transaction flow related to OFAC sanctions. Source: Chainalysis
The addresses in question reportedly moved nearly $1 billion worth of funds linked to sanctioned entities. Most of the transactions funded Houthi operations in Yemen and the Red Sea region.
Slava Demchuk, a crypto-focused money laundering specialist and United Nations Office on Drugs and Crime consultant told Cointelegraph that “the inclusion of Houthi-linked wallets reflects a broader recognition of crypto’s role in geopolitical conflicts and terrorism financing.” He added:
“The implications are far-reaching — compliance frameworks must adapt swiftly, attribution efforts will intensify, and decentralized platforms may face increased scrutiny.“
Demchuk highlighted that the situation reshapes the regulatory landscape. According to him, crypto “is now firmly within the scope of international security.
Who are the Houthis?
The Houthis, also known as Ansar Allah, are a Yemeni political and armed movement that emerged from the Zaidi Shia community. Originating as a revivalist and reformist group, they later became a major force in Yemen’s ongoing conflict.
Related: US DOJ says it seized Hamas crypto meant to finance terrorism
In recent years, the Houthis have engaged in attacks against both military and civilian vessels in the Red Sea with missiles and drones. In January, US President Donald Trump designated the group as a foreign terrorist organization.
The announcement noted that “the Houthis’ activities threaten the security of American civilians and personnel in the Middle East, the safety of our closest regional partners, and the stability of global maritime trade.” The group was recently struck by a US bombing campaign.
Related: Binance claims’ no special relationship’ with Hamas, argues to dismiss lawsuit
Garantex: Russia’s crypto laundromat
Garantex is a Russian crypto exchange that was sanctioned and shut down in early March after purportedly helping money-laundering efforts. At the time, Tether — the leading stablecoin operator and issuer of USDt — froze $27 million in USDt on the platform, forcing it to halt operations.
The platform has reportedly shifted millions of dollars as it sought to reboot under its new brand, “Grinex.”
In mid-March, officials with India’s Central Bureau of Investigation announced the arrest of Lithuanian national Aleksej Bešciokov, who was alleged to have operated the cryptocurrency exchange Garantex.
The arrest of the alleged Garantex founder was based on US charges of conspiracy to commit money laundering, conspiracy to operate an unlicensed money-transmitting business and conspiracy to violate the International Emergency Economic Powers Act.
Magazine: Financial nihilism in crypto is over — It’s time to dream big again
…
Learn MoreUS sanctions 8 crypto wallets tied to Garantex, Houthis