Author: NBTC

Less than two months after being hacked, decentralized finance (DeFi) platform Kinto has announced its decision to shut down “to protect users and community.” Kinto’s post-hack recovery plan, dubbed “Phoenix,” included raising $750,000 in crypto from private credit protocol Wildcat Finance, promising depositors 50% APR. The bridge loan turned out to be insufficient, however. Kinto explained that “the 577 ETH that were drained and new debt + market conditions killed further fundraising.” Lenders who deposited to the Phoenix market will take a 24% haircut, the first default for Wildcat creditors who have facilitated $368 million in loans since its public…

Ether prices have been languishing lately, failing to mount a notable comeback after peaking late last month and then suffering a steady decline. The world’s most valuable digital currency by total market capitalization traded largely between $4,300 and $4,400 on Monday, September 8, after falling to nearly $4,250 the weekend before, according to Coinbase data from TradingView. In comparison, the cryptocurrency surpassed $4,900 on August 24, additional Coinbase figures from TradingView reveal. As a result, the digital asset fell roughly 14% between that time and Saturday, September 6. When explaining this downward movement in prices, analysts cited several developments, including…

Disclaimer: The analyst who wrote this piece owns shares of MicroStrategy (MSTR). Microstrategy, now known as Strategy (MSTR), has reshaped U.S. capital markets in 2025 by issuing a series of preferred stock under tickers STRK, STRF, STRD and STRC. Collectively, these offerings raised about $5.6 billion year-to-date, making up for 12% of all U.S. IPO issuance (preferred or common) , according to Strategy. That scale alone underscores both investor appetite and the company’s role as the most visible corporate proxy for bitcoin BTC$108,551.99. Performance across the preferreds has varied. STRF leads with a lifetime return of 31%, followed by STRK…

Crypto platform Bullish (BLSH), the parent company of CoinDesk, received a number of stock ratings from Wall Street analysts on Monday, as brokerage firms initiated coverage of the stock after its recent IPO. Rosenblatt Securities started coverage with a buy rating and a $60 price target, citing shifting U.S. political winds and rising institutional adoption as key catalysts for growth, the broker said in a research report Monday. The firm argues that Bullish, one of the largest regulated institutional exchanges, is well positioned to capitalize on what it calls a “dramatic improvement” in the U.S. political environment for digital assets.…

While top-tier bitcoin miners have largely paused or slowed their fleet expansions, a group of smaller competitors accelerated growth in August, posting the strongest gains in bitcoin production. This article is from Theminermag, a trade publication for the cryptocurrency mining industry, focusing on the latest news and research on institutional bitcoin mining companies. According to their monthly updates, HIVE, Bitdeer, Cipher, and Canaan all reported double-digit increases in realized hashrate last month, in contrast to the more reserved stance taken by the largest operators. HIVE grew its realized hashrate by 27.9% to 16.2 EH/s in August, producing 247 bitcoin. The…

Blockchain shortcut provider Enso and stablecoin issuer Reservoir have teamed up with Stargate and LayerZero to launch OneStable, a protocol for cross-chain stablecoin minting. OneStable enables “one-click omnichain minting,” according to a press release viewed by The Defiant, which empowers multi-chain DeFi users to bypass manual swaps or bridging, which can be tedious based on the networks and protocols being used. The feature is an Enso shortcut and will debut with Reservoir and its rUSD stablecoin ecosystem, which offers two yield-bearing options, srUSD and wsrUSD. Through the integration, users can access cross-chain yield and liquidity from a single chain, potentially…

Ethereum price started a fresh recovery wave above the $4,350 zone but failed. ETH is still struggling and might slide below the $4,270 zone. Ethereum is still struggling to recover above the $4,400 zone. The price is trading below $4,350 and the 100-hourly Simple Moving Average. There was a break below a bullish trend line with support at $4,290 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a strong decline if it settles below the $4,220 level in the near term. Ethereum Price Could Slide Further Ethereum price started a recovery wave after it…

Gryphon Digital Mining, a publicly traded Bitcoin miner based in Las Vegas, Nevada, has received final shareholder approval to merge with American Bitcoin, a mining company linked to US President Donald Trump’s family. Shareholders approved the stock-for-stock merger on Wednesday, with the company announcing the decision on Friday. As part of the deal, a reverse five-to-one stock split and new listing are scheduled for 5:00 pm ET on Sept. 2. Once the reverse split is complete, the combined entity will adopt the American Bitcoin name and begin trading under the ticker symbol “ABTC.” The reverse stock split will cut the…

GameFi.org, a popular Web3 gaming entity, has partnered with Somnia, a next-gen, EVM-compatible L1 blockchain. The partnership endeavors to utilize Somnia’s efficient blockchain for the provision of cutting-edge blockchain gaming experiences. GameFi.org’s official X announcement discloses that the development is anticipated to drive the expansion of blockchain-led entertainment. In addition to this, the integration underscores a landmark development to evolve developer and user access to the wider Web3 technologies. 🔥 https://t.co/IYrBuYJr4Y x @Somnia_Network: Partnership Announcement 🔥We’re delighted to have Somnia as a key partner of https://t.co/IYrBuYJr4Y!Somnia is an EVM-compatible Layer 1 blockchain – Designed for mass-consumer applications with 1M+ TPS,…

A market pundit has suggested that Coinbase may be manipulating the XRP price, alleging that this event is contributing to the price struggles. For context, XRP has struggled to climb above the $3 level despite signs of recovery in the wider crypto market. It currently trades around $2.90 after more than a week of sideways movement, and some analysts believe exchange activity may be holding it back. Coinbase XRP Holdings Drop by 69% Market commentator Stern Drew recently made these allegations. He called attention to XRPScan data showing that Coinbase cut its reserves from 780 million XRP to 199 million…