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Digital Asset Exchange Rolls Out Support for Under-the-Radar DeFi Altcoin

Digital Asset Exchange Rolls Out Support for Under-the-Radar DeFi Altcoin

Singapore-based digital asset exchange supports another small-cap decentralized finance (Defi) altcoin. Exchange customers can now trade the native Ribbon Finance (RBN) token, a suite of DeFi protocols to make cryptocurrency products more accessible for users. RBN is trading at $0.34 at the time of writing.

The crypto asset, ranked 179th by market cap, is down more than 3.5% in the last 24 hours and more than 9% in the previous seven days. It is also down more than 93% from its all-time high of $5.54, which arrived in October 2021.

According to the project’s website, Ribbon Finance combines derivatives, lending and an on-chain options exchange. Major US crypto exchange Coinbase launched trading services for RNB late last year. In February, the business also began offering custody services for the crypto asset through the Coinbase Custody Cold Storage Trust. continues to expand its list of tradable crypto assets despite public headwinds in recent months.

An October report by Ad Age magazine showed that the exchange had laid off more than 2,000 employees, about 30-40% of its workforce. That figure was much higher than CEO Kris Marszalek’s estimate in early June. Marszalek said on Twitter that the exchange had laid off 260 employees, or about 5% of the company’s workforce.

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