Author: NBTC
Nexus Mutual has transferred $250,000 to reimburse users caught in Arcadia Finance’s $3.5 million exploit, marking one of Base blockchain’s first major insurance settlements. The payout arrives as Arcadia’s own recovery plan remains weeks from implementation. Summary Nexus Mutual paid $250,000 to victims of Arcadia Finance’s $3.5 million hack, marking one of Base chain’s first major insurance settlements. The payout offers early restitution ahead of Arcadia’s own delayed recovery plan based on “Recovery Tokens.” On August 4, crypto insurance alternative Nexus Mutual announced it had paid out $250,000 to users impacted by the July 15 Arcadia Finance exploit on Base,…
Publicly traded real estate software firm DeFi Development Corp. bolstered its Solana treasury with more than 110,000 SOL valued around $18.4 million, the firm announced on Monday. The latest purchase brings its total Solana holdings to 1,293,562 or more than $215 million at today’s Solana prices. “We’re focused on growing SOL per share as quickly and efficiently as possible,” DeFi Development Corp. Head of Investor Relations Dan Kang told Decrypt. “Market conditions appeared favorable, and we saw an opportunity to make a meaningful, accretive addition to the treasury.” The purchase was funded via a combination of cash on hand and…
Decentralized exchanges (DEX) reached $1 trillion in monthly trading volume for the first time in July. According to DefiLlama data, spot trading volume grew 29.4% and reached nearly $514 billion last month, bested only by January’s all-time high of $568 billion. At the same time, perpetual futures’ monthly volume increased 33.6% to register a new all-time high of $487 billion, with Hyperliquid registering a new record in monthly perpetual trading. BNB dominance on spot For the third consecutive month, BNB Chain dominated spot trading volumes. The chain’s volumes grew 15.3% and totaled $196.3 billion in July, representing 38.2% the monthly…
Major crypto exchange Coinbase has issued a delisting notice for one of the cryptocurrencies currently on the platform: Function X (FX), following a recent review. In a recent tweet, Coinbase stated that it regularly monitors the assets on the exchange to ensure they meet listing standards. That said, based on recent reviews, it has decided to suspend trading for Function X (FX) as the project team has paused the underlying smart contract for the asset supported by Coinbase. Function X has migrated the (FX) ERC-20 token to a new ERC-20 token, Pundi AI (PUNDIAI). We regularly monitor the assets on…
Binance sent 110K SOL and 8K ETH to Wintermute, which were not linked to customer withdrawals. Binance’s July PoR shows full backing for SOL and ETH, raising questions on asset origin. The source of the Binance transferred assets raises questions despite reported 100% reserve ratios. Between August 1 and 2, Binance transferred over 110,000 SOL and 8,000 ETH to Wintermute, a prominent market-making firm. These on-chain transactions occurred within 18 and 4 hours, respectively. The timing and volume of the transfers have raised concerns, mainly because the assets do not appear to be customer withdrawals. Blockchain records show a direct…
On Tuesday, Google will launch a chess tournament pitting leading AI models against each other, in a direct test of machine reasoning. It follows claims by Elon Musk on Monday that his chatbot, Grok, exhibits “outstanding reasoning” abilities. The event kicks off as part of the new Kaggle Gaming Arena, a platform for testing general-purpose AI agents in live, competitive environments. The first tournament will feature daily chess matches between versions of six leading language models: ChatGPT, Gemini, Claude, Grok, Deepseek, and Kimi. Unlike standard benchmark tests, the format puts AI strategy on public display by evaluating how models…
Binance announced that it will remove some margin trading pairs from the platform at 9:00 AM on August 8, 2025. Binance Margin to Remove Some Margin Trading Pairs on August 8th Pairs to be removed: Cross Margin Pairs: DOGS/FDUSD, MOVE/FDUSD, MANTA/FDUSD, PEOPLE/FDUSD Isolated Margin Pairs: DOGS/FDUSD, PEOPLE/FDUSD According to the decision, users will no longer be able to transfer assets belonging to these currency pairs to isolated margin accounts via manual transfer or Automatic Transfer Mode. Only users with outstanding debt in these tokens will be able to manually transfer assets up to the amount of the debt, minus their…
CACEIS, the asset servicing arm of Credit Agricole, has acquired a minority stake in French fintech Kriptown to support the launch of Lise, a blockchain-based exchange aimed at SMEs and mid-cap companies. Lise, short for Lightning Stock Exchange, is set to be Europe’s first tokenized exchange focused on streamlining equity financing and public listings for smaller firms, CACEIS said in a press release on Monday. Lise is currently awaiting regulatory approval as a DLT Trading and Settlement System (DLT TSS) under the European pilot regime. If approved, it would allow companies to issue, trade, and settle financial instruments directly on…
Perplexity’s crawlers kept accessing content from tens of thousands of websites even after those sites explicitly blocked them, according to internet infrastructure provider Cloudflare. The company said Monday it had delisted Perplexity from its verified bot program and implemented blocks against what it characterized as deceptive scraping practices. San Francisco-based Perplexity was founded in 2022 by Aravind Srinivas (CEO, former OpenAI researcher), Denis Yarats (former Facebook AI), Johnny Ho, and Andy Konwinski (co‑founders of Databricks). The company has received funding from investors including Elad Gil, Nat Friedman (former GitHub CEO), and Nvidia, among others, and was valued at $18 billion…
Binance, the world’s largest cryptocurrency exchange, announced on Monday that it is opening access to bitcoin “options writing” for all users. The move is a direct response to a significant increase in retail demand for more strategic and sophisticated trading tools.Options are derivative contracts that allow the purchaser the right to buy or sell the underlying asset at a pre-determined price on or before a specific date. A call option gives the right to buy and represents a bullish bet on the market while a put option offers downside protection. Writing options refers to selling call or put, which is…