Argentina To Shut Down Crypto Activities To Attain $45 Billion Loan, Says IMF
The South American country Argentina’s central bank released a statement on Thursday saying that the country’s financial sector is not allowed to provide services related to digital assets that are not regulated. This effectively bans any crypto transactions within the official economy. The move is just days after Banco Galicia and Burbank SAU, the two […]
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In a significant development within the UK’s cryptocurrency landscape, authorities have recently apprehended two individuals linked to an alleged illicit digital currency exchange operation, reportedly involving over £1 billion. This move underscores an ongoing effort by regulatory bodies to clamp down on unregulated financial activities within the crypto sector. Related Reading: UK Crypto Advice Firm Shut […]
Crypto lender Genesis provided $5.2 billion in new loans in the third quarter of 2020, more than double its previous record of $2.2 billion in the preceding quarter. Issued to corporate borrowers such as hedge funds and trading firms, the loans are mainly denominated in bitcoin (BTC), ether (ETH), bitcoin cash (BCH), and cash. According to the U.S. company’s Q3 Digital Asset Report shared with news.Bitcoin.com on Oct. 30, Genesis grew its active loans outstanding 50% to $2.1 billion from $1.4 billion in the second quarter. Altogether, Genesis has processed a total of $13.6 billion....
The Central Bank of Argentina and government representatives have asked the Bitcoin community to join efforts to eradicate financial exclusion, transform the financial industry, promote financial opportunities, and reduce inflation. Officials made their request at the Latin America Bitcoin & Blockchain Conference (laBITconf), on November 5 in Buenos....
PRESS RELEASE. CEX.IO LOAN experiences massive institutional demand for its crypto-backed lending service, with 41% of customers requesting to borrow cash against Bitcoin, 53% against Ethereum, and 6% against DeFi tokens. Crypto-backed lending service CEX.IO LOAN that launched in October 2020 in select global jurisdictions, has been experiencing major demand, receiving over $100 million worth of loan requests to date. While the service has been widely popular among retail investors, most of the platform’s loan requests came from institutional investors. According to CEX.IO LOAN,....
Crypto lender BlockFi outlined the total amount of loans and net risk exposure it carried at the end of Q2 2022 and shared how it is managing liquidity and credit risk. Centralized crypto lender BlockFi disclosed that as of the end of Q2, it had $1.8 billion in outstanding loans from institutional and retail investors and $600 million in “net exposure.”The disclosure came from its Thursday “Q2 2022 Transparency Report,” where the firm outlined its risks relating to liquidity and credit and shared details on its institutional and retail loan portfolios. Of the outstanding loans to borrowers....