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!

This episode is sponsored by Crypto.com, Bitstamp and Nexo.io.

Today's stories:

Bitcoin's Bull Run is Slowing – Pullback Now Expected

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

Money Legos Turn 'Exuberant' as Chainlink Stripped of 'DeFi'

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

UK Regulator Grants License to Digital Security Exchange Archax

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. 

Binance-Owned WazirX Announces DeFi Project With Matic

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

$200m Staked in YAM-Inspired DeFi Protocol in Under 12 Hours 

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