With bitcoin dropping overnight as DeFi booms, 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 Price Drops 4% After Latest Rejection at $12K Resistance

Bitcoin fell by $400 Wednesday morning, having failed once more to move above a long-held resistance level. 

Bitcoin Miners Saw 23% Revenue Increase in August

Miners generated an estimated $368 million in August.

DeFi Flippening Comes to Exchanges as Uniswap Topples Coinbase in Trading Volume 

Trading volumes are surging on Uniswap and other so-called decentralized cryptocurrency exchanges, challenging established venues like Coinbase.

Police Reportedly Raid Headquarters of Bithumb, South Korea's Largest Exchange 

Crypto exchange Bithumb has reportedly been seized by police in Seoul on allegations that its chairman engaged in investment fraud.