Bitcoin News Roundup for Aug. 19, 2020

With bitcoin pulling back from its bull run and the emergence of YAM-inspired “Spaghetti Money,” CoinDesk’s Markets Daily is back for your latest crypto news roundup!

Some analysts are now predicting further price corrections after bitcoin fell back below the $12,000 milestone on Tuesday.

This year’s growth in the cryptocurrency subsector DeFi has been so remarkable that some analysts are now calling the phenomenon “exuberant.”

The U.K. watchdog has granted several licenses to Archax that will allow it to become a “one-stop shop” for the digital security space. 

The Mumbai exchange has opted for Matic instead of Ethereum’s network, which is currently dominating the DeFi space because of “high gas costs.”

The DeFi craze continues as investors stake $200 million in a new yield farming protocol that’s not even 12 hours old yet.

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