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Crypto

Lombard Finance launches bitcoin-backed credit product with Flow Traders as pilot partner

Lombard Finance, a bitcoin financial products startup, is launching a new product called the \"Bitcoin Onchain Credit Strategy,\" with global trading firm Flow Traders taking part as a pilot partner. The product is designed to let Flow borrow stablecoins for market-making without posting its own onchain collateral. Instead, bitcoin deposited in Lombard’s Bitcoin Earn yield product serves as collateral through an underwriting structure run on the CAP private credit platform.

Crypto

BitMEX to wind down operations after 11 years; Zhao says \'sad\'

Cryptocurrency exchange BitMEX will cease operations on Sept. 23 local time. Operator HDR Global Trading decided to permanently close the exchange after reviewing its business strategy and broader crypto market conditions. New sign-ups have been halted, and limits on new positions will begin on Aug. 26. Unclosed positions will be liquidated at shutdown. BitMEX said it is not responsible for losses from failure to close positions by deadlines.

Crypto

XRP 790 percent rally may be coming as leverage falls and exchange withdrawals rise

XRP leverage in Binance futures has fallen to 0.16, near 2026 lows, signalling traders have sharply reduced leveraged exposure after a roughly 70 percent pullback from a 2025 high of $3.65. CryptoQuant analyst Darkpost called the deleveraging a healthy sign and compared it with mid-2024, when XRP later rose more than 790 percent. Separately, XRP holders have been withdrawing more than depositing on major exchanges, though prices stayed around $1.10.