Here’s what happened in crypto today

Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, Web3 and crypto regulation.

Today in crypto, Neutrl has suspended minting and redemptions for its NUSD synthetic dollar. The CFTC moved to explore cryptocurrency regulation as the CLARITY Act remains stalled in Congress, while Flying Tulip founder Andre Cronje argued that most DeFi protocols have evolved into “onchain finance” after sacrificing decentralization and immutability.

Decentralized finance (DeFi) protocol Neutrl has suspended minting and redemptions for its NUSD synthetic dollar after unspecified circumstances affected protocol reserves, leaving the cause and scale of any potential impairment unclear. 

On Thursday, Neutrl said it had also paused other protocol functions on legal advice while it assesses the impact. The protocol did not identify the affected asset or counterparty, say whether reserves suffered a realized loss or provide a timeline for resuming operations. 

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