Looking to take out a crypto loan? Here’s what you need to know
Cryptocurrency-based loans have grown to be one of the most utilized decentralized finance (DeFi) that have emerged from the cryptoverse. Loans based on cryptocurrencies have become a mainstay of the decentralized finance (DeFi) universe ever since the smart contract-based lending/borrowing platforms began offering the service to crypto users. The Ethereum network, the first blockchain that scaled the smart contract functionality, sees most of the total value locked (TVL) on DeFi protocols dominated by cryptocurrency lending platforms.According to data from DeFi Pulse, the top 4 of 10 DeFi....
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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,....
A clever way for bitcoin miners to get better loan terms.
Software company MicroStrategy is read to buy the Bitcoin dip. According to a press release, the company took a $205 million loan from Silvergate Bank, a financial solution provider for the crypto industry. Related Reading | Wasabi’s Side Of The Story: Reasons For Blacklisting Certain BTC From CoinJoin The company took the loan via MacroStrategy, […]
Coinbase, one of the biggest crypto exchange platforms, has used Bitcoin as collateral for a cash loan with Goldman Sachs; terms as to the number of loans or interest rates are undisclosed as of this writing. The loan was initiated by Goldman Sachs as the bank’s first-ever loan that is backed by crypto, specifically Bitcoin. […]
On July 8, 2022, the company behind the largest stablecoin in the world, Tether, revealed that the firm liquidated a loan made to the crypto lender Celsius, and the liquidation caused “no losses to Tether.” According to the stablecoin issuer, the bitcoin loan to Celsius was “overcollateralized” by roughly “130%+.” Tether Liquidates Bitcoin Loan Taken out by Celsius — Stablecoin Issuer Stresses It Will ‘Never Put the Integrity of Its Reserves at Risk’ The company Tether has informed the public that the firm “has never and....