DeFI News by Thebittimes.Com

The world’s largest crypto exchange platform by volume is adding support for a new decentralized gaming altcoin, launching a price explosion. In a new announcement, Binance says it’s adding support for Nexpace (NXPC), a recently launched blockchain-based gaming ecosystem associated with the popular South Korean MMORPG (massively multiplayer online role-playing game) MapleStory. “Binance is excited to announce that Nexpace (NXPC) will be added to Binance Simple Earn, ‘Buy Crypto,’ Binance Convert, and Binance Margin.” According to its official whitepaper, NXPC is not only the token used for paying network fees over the blockchains, but it’s also designed to be interchangeable with non-fungible tokens (NFTs) in the MapleStory franchise, controlling their supply. “NXPC is designed to be interchangeable with NFTs. Players can redeem NXPC for collections of NFTs or exchange these collections back into NXPC. Under this me...

Gate.io to compensate users for outage losses — but there’s a catch Gate.io forced a surprise service outage on its users today. The giant crypto exchange, which claims to have processed over $4 billion in spot plus $17 billion in derivative volume over the last 24 hours despite the outage, partially apologized for the shutdown and promised to compensate users in the most confusing way possible. In an announcement, the exchange apologized “for any inconvenience caused” via a post on X. Executives then hyperlinked to a legal disclaimer that clarified, “We will provide 100% compensation for all customer losses incurred during the upgrade (excluding market factors).” Because a centralized exchange customer usually only has two ways to lose money — market price movements or outright theft — this language made it unclear what compensation was actually offered. The announcement prompted an AMA to “see exactly how payouts work.” Customers flooded into the space...

Bybit, the world’s second-largest crypto exchange by trading volume, opened its new Amsterdam office on August 22, as per the most current information shared with Finbold on August 25.  This move marks a significant milestone in Bybit’s European expansion and highlights the platform’s commitment to innovation and growth within the Dutch market. At the @Bybit_Official office opening in Amsterdam! pic.twitter.com/GE7XZULHlf — Sjuul | AltCryptoGems (@AltCryptoGems) August 22, 2024 Bybit’s Amsterdam office The Amsterdam office stands as a symbol of Bybit’s dedication to the Dutch crypto community. Picks for you Ann Coulter's net worth 2024: How rich is the conservative firebrand? 1 hour ago AI predicts XRP price if ...

OKX teams up with Komainu and CoinShares for institutional asset trading. CoinShares trades on OKX, while Komainu safeguards assets, mitigating counterparty risks. The collaboration establishes a legally robust mechanism, enhancing the reliability of institutional transactions. In a strategic move aimed at fostering institutional adoption of digital assets, cryptocurrency exchange OKX has entered into a partnership with custody provider Komainu and asset manager CoinShares. This collaboration, designed to facilitate round-the-clock trading of segregated assets, addresses a crucial concern for institutional traders—counterparty risks. The partnership comes right on the heels of another OKX partnership with Polygon that saw OKX launch a ZK-powered L2 network built with Polygon CDK. Mitigating counterparty risks with a traditional touch In this innovative partnership, CoinShares will execute trades on the OKX exchange, while Komainu, functioning as a th...