Nexo introduced regulated, cryptocurrency-backed credit lines that allow users to access liquidity in Australian dollars or stablecoins by borrowing against their digital assets. Nexo Australia launched crypto-backed credit lines after becoming a credit representative under Australia’s National Consumer Credit Protection Act, the company said in a Tuesday announcement shared with Cointelegraph. The new credit lines allow eligible clients to borrow Australian dollars or stablecoins by using their cryptocurrencies as collateral without having to sell them. Funds are generally available within 24 hours with flexible repayments, with no fixed term or origination fees. Interest rates range from 0.9% to 21.9%, depending on the credit line and the client’s loyalty tier. Read more
Hayes revealed his new role as Flop Labs CEO and teased a “massive airdrop” from the AI inference protocol in the fourth quarter of 2026. BitMEX co-founder Arthur Hayes said he would lead Flop Labs and updated his X profile to identify himself as the company’s CEO. Flop Labs is developing a proposed network through which AI agents would pay for computing and other services. “I’m coming out of retirement to lead @flop_labs,” Hayes said in a Tuesday X post. Cointelegraph has approached Hayes for comment and asked whether this position would affect his existing role as chief investment officer of Maelstrom Fund. Read more
US spot Bitcoin ETFs took in $189 million on Tuesday, lifting August net inflows to $951 million, while Ether ETFs added $71.5 million. US-listed spot Bitcoin exchange-traded funds drew $189.3 million in net inflows on Tuesday, lifting August net inflows to about $951 million. The latest gains followed $297.6 million in net inflows on Monday, bringing the two-day total to $487 million, or more than half of the funds’ net inflows so far this month, according to SoSoValue data. BlackRock’s iShares Bitcoin Trust led the day’s inflows with $143.6 million, while Fidelity’s Wise Origin Bitcoin Fund added $23.9 million. Read more