Bitcoin News Roundup for Aug. 13, 2020

With the price of BTC bouncing and ETH miners on the rise, CoinDesk's Markets Daily is back for your news roundup!

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

Today's stories:

Bitcoin Recovers From $11.3K Despite Losses in European Stocks

Bitcoin has shrugged off a drop to $11,300 for the third day running, possibly buoyed by gold's recovery on Wednesday.

Daily Profitability for Ethereum Miners Hits Over 2-Year High

The surge in profitability comes after rises in transaction fees and prices of the ether cryptocurrency.

Coinbase to Offer Bitcoin-Backed Loans to US Customers

Coinbase will allow U.S. retail customers to borrow fiat loans against as much as 30% of their bitcoin holdings starting in the fall.

YAM's Market Cap Falls From $60M to Zero in 35 Minutes

YAM’s market cap fell to zero just minutes after the co-founder pronounced the yield farming project dead. A rescue plan is now in the cards.