Author: NBTC

NBTC

NBTC is the editorial account for NBTC News, covering Bitcoin, Ethereum, DeFi, blockchain infrastructure, exchanges, mining, regulation and digital asset markets. The editorial team focuses on clear sourcing, timely updates and practical context for crypto readers.

Stables Labs Launches USDX, sUSDX on Base Network for Advanced Cross-Chain Accessibility

Stables Labs, a decentralized platform that offers stablecoin and tokenization solutions, has announced the launch of its USDX and sUSDX synthetic stablecoins on the Base blockchain. This integration, which is powered by Axelar Network and Squid Router, facilitates efficient multi-chain access for USDX and sUSDX on Base. This deployment is part of Stables Labs’ wider strategy to broaden its cross-chain presence, with the aim of enhancing accessibility and interoperability within DeFi. These USDX and sUSDX synthetic stablecoins, which are pegged to the US dollar, are now available on the Base network, providing users with a stable and convenient approach for…

DeFiAug 5

Arcadia Finance users reimbursed by DeFi hack insurance

Crypto-native insurance service Nexus Mutual reimbursed its customers who had lost money in the recent Arcadia Finance hack. According to a Monday announcement shared with Cointelegraph, Nexus Mutual reimbursed approximately $250,000 to users who lost funds in the Arcadia Finance hack. The protocol was hacked in mid-July for $3.5 million in USDC (USDC) and USDS on the Base blockchain, with stolen assets swapped to Wrapped Ether (WETH). The attackers siphoned funds directly from user accounts. Arcadia users who lost funds started filing claims on July 29 after a 14-day cooldown. In partnership with OpenCover, a base-based coverage seller, Nexus Mutual…

DeFiAug 5

Strategic Hire Signals Explosive RWA Growth

The world of decentralized finance (DeFi) is buzzing with significant news! Centrifuge, a leading RWA tokenization platform, has made a truly impactful move, signaling a new era for real-world assets on the blockchain. This strategic decision aims to bridge the gap between traditional finance and the innovative realm of DeFi, paving the way for greater institutional crypto adoption. It’s a development that underscores the growing maturity and potential of the digital asset space. Centrifuge COO: A Strategic Appointment Centrifuge (CFG), a prominent player in the RWA tokenization space, recently announced a pivotal leadership change. The platform has appointed Jürgen Blumberg…

DeFiAug 5

Aave repurchases 70,000 tokens, boosting DeFi lead

Aave DAO has repurchased 70,000 AAVE tokens, or 0.5% of its total supply, in less than six months of its token buyback initiative. In an Aug. 4 post on X, DeFi analysis platform Token Logic stated that the platform acquired these tokens for $15.7 million at an average purchase price of $223.33 per token. The platform also stated that the DeFi protocol has an unrealized profit of $2.6 million based on the current market price of the AAVE token. Mark Zeller, the co-founder of Aavechan, confirmed the milestone in a separate X post, pointing out that the DAO also reduced…

DeFiAug 5

FLUID price rallies as Fluid DEX dominates stablecoin swaps across Ethereum and L2s

The DEX captured 55.5% of stable-stable swap volume on Ethereum, Base, Arbitrum, and Polygon. Dune data shows Fluid handled more volume compared to all DEXs combined. FLUID tokens surged over 15% in the past day amidst investor interest. Cryptocurrencies remain elevated today as Bitcoin reclaimed $115,000 after approaching $112,000 on Saturday. Ethereum steadies above $3,600 as XRP regains the $3 mark. Meanwhile, lesser-known FLUID grabbed attention with a 15% increase over the past day as Fluid DEX dominated the DeFi scene. Fluid decentralized exchange accounted for 55.5% of stablecoin-for-stablecoin trading volume on Ethereum, Base, Arbitrum, and Polygon on August 3…

DeFiAug 5

Nexus Mutual’s $250k payout cushions blow for Arcadia hack victims

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,…

DeFiAug 5

Solana Treasury Company DeFi Dev Corp Buys the SOL Dip, Stacks Another $18 Million

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…

DeFiAug 5

DEX trading volume tops $1T for the first time in July, Hyperliquid leads record perp surge

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…

ExchangesAug 5

Coinbase to Delist Popular Cryptocurrency This August: Details

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…

ExchangesAug 5

Binance Sends Millions in Crypto to Wintermute Amid Transparency Questions

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…

ExchangesAug 5