Coinbase x Morpho is the posterchild for crypto mullet:
> CeFi frontend + defi rails under the hood
> Users borrow cash while Coinbase dogfoods its full stack (cbBTC, Base chain, Exchange, USDC, Wallet)
> Bitcoin loans o/s are now up to $1b (+5x in 7 months)
> 22k active loans, ~50k avg loan size, 0.57 avg LTV
> Pretty easy to imagine how the mullet will be grown out for non-crypto native assets (i.e. CB stock)

Coinbase + Morpho - Defi Mullet 2.0 now up to $197m in BTC collateralized loans o/s
A few interesting stats: 5,945 active loans, $33k avg. loan size, and 0.45 avg LTV
Imagine we start seeing caps lifted (currently $1m) and new assets (starting w/ ETH)  x.com/TheOneandOmsy/…

Omar

Twitter

Bithumb, one of South Korea's largest cryptocurrency exchanges, has just shaken the market with a serious internal incident related to the distribution of rewards...

A Bithumb exchange employee accidentally 'gifted' 2,000 Bitcoin to a user, causing the price of BTC on the exchange to suddenly drop by 10%.

Author: Nancy, PANews
Original title: No Black Swan Events, Four Atypical Guesses About the Culprit Behind Bitcoin Overselling
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A black swan-style crash has arrived, but we haven't seen where the black swan is, which is even more unsettling.
Almost without warning, Bitcoin suddenly plummeted, entering its third-largest oversold zone in history, causing both long positions to collapse and psychological barriers to fall. This has left the market perplexed...

The absence of black swan events suggests there may be other reasons for Bitcoin's current oversold condition.

Bitcoin ($BTC) has recently gone through a sudden shift on Bithumb, a well-known South Korean crypto exchange. In this respect, the $BTC/KRW trading abruptly plummeted over 10% below the worldwide ave...