\n<\/p>\n
The crypto markets took a US$3bn hit this Wednesday, as Bitcoin dipped below US$23,000 while Ethereum fell 5.5% to US$1,680.<\/p>\n
Among the worst hit were Cosmos blockchain\u2019s ATOM coin, which saw a double-digit hit to its now US$3bn market capitalisation, and Oasis Network, whose ROSE coin dipped over 10%.<\/p>\n
Kusama, Helium and Dash network were also among the biggest daily fallers.<\/p>\n
The Nexo lending platform and iFinex\u2019s LEO token were among the few daily risers, adding 4.4% and 3.8% respectively.<\/p>\n
One the worst hit In the decentralised finance (DeFi) space was decentralised stablecoin exchange Curve, who also had to deal with a US$570,000 server hack.<\/p>\n
1inch Network, Synthetix and Compound Finance also took a tumble.<\/p>\n
Total volume locked across the whole DeFi space is currently US$66.78bn, having declined 2.7% in the past 24 hours.<\/p>\n
Contributing to the sharp drawback in an otherwise steady week were the US$1.1bn in operating losses reported in Coinbase\u2019s latest earnings call.\u00a0<\/p>\n
NASDAQ-listed crypto exchange shed 200,000 users in the second quarter, while trading volumes on the platform dropped by nearly a third.<\/p>\n
German cryptocurrency exchange Nuri has filed for bankruptcy in the Berlin courts, Reuters reports<\/a>.<\/p>\n Founded in 2015, the exchange blamed poor market conditions, the Celsius bankruptcy, and uncertainty in the financial markets.<\/p>\n The Iranian government has placed a US$10mln import order using Bitcoin, the first such transaction for the Islamic republic.<\/p>\n Alireza Peyman-Pak, head of Iran\u2019s Trade Promotion Organisation, said: \u201cBy the end of September, the use of cryptocurrencies and smart contracts will be widespread in foreign trade with target countries.\u201d<\/p>\n<\/div>\n