Weiss Ratings Report Claims Crypto-Backed Home Loans Spell Trouble
A report published on May 2 by the rating agency Weiss Ratings warns that crypto-backed mortgages “spell risk.” Weiss editor Jon D. Markman said backing a mortgage with crypto is an “interesting strategy,” but stressed that during these market conditions “investors should be skeptical.” Weiss Ratings Editor Doesn’t Believe Crypto and Mortgages Mix According to the editor at Weiss Ratings, Jon D. Markman, lenders who allow people to use crypto to back a mortgage might be adding more risk to current market conditions. Markman uses the firm....
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Weiss analysts are wary over the usage of volatile crypto assets as collateral for long-term property loans. Florida-based ratings and research firm Weiss Ratings has fired out a warning over the risks of crypto mortgages amid the current economic climate in the United States. The company paid particular focus to Milo, a digital banking startup from Miami that offers 30-year mortgages backed by Bitcoin (BTC), Ethereum (ETH), or stablecoins as collateral. The firm requires zero down payments, and its loan rates vary between 3.95% and 5.95%.In the May 3 report, Weiss analyst Jon D. Markman....
Weiss Crypto, the subsidiary of financial ratings firm Weiss Ratings slammed Cardano’s partnership with Confirm, describing it as a “bad move all around.” Cardano founder Charles Hoskinson has responded to criticism over The Cardano Foundation’s partnership with Confirm, saying it was necessary for adoption of ADA. The Cardano Foundation announced its partnership with the blockchain analytics provider on Aug. 24, which will see Confirm’s analytics being utilized to ensure compliance with frameworks such as the 6th Anti Money Laundering Directive and Financial Action Task Force’s....
As buying a home is by itself a serious investment, homeowners often lack the cash to fund further improvements to their property. While traditional bank loans are not as easily available, a new partnership now offers crypto holders to use their digital assets as collateral and instantly borrow money for a kitchen remodeling or some other renovation. Crypto Lending Platform Partners With Construction Company Many homeowners find it hard to finance home improvement projects that would raise their living standards as they are stuck with the low liquidity of their properties. Applying for a....
Cryptocurrency-related lending has become a black smudge for the industry these days and according to a recent report, bitcoin’s low price has put billions in mining loans under stress. The report, which quotes the co-founder of mining company Luxor Technologies, Ethan Vera, says that roughly $4 billion in loans backed by crypto mining rigs are extremely close to running a risk of default.
Analyst Says Miners ‘Are Nervous About Their Loan Books’
The price of bitcoin (BTC) is 21% lower than it was two weeks ago and the price drop has hurt BTC miners a great....
A new partnership between Cardano and blockchain-based firm Coinfirm has drawn criticism from its community. The Cardano-Coinfirm partnership will enable authorities to track ADA transactions on the blockchain from as far back as when it was first created. This, according to the press release, will enable the apprehension of bad actors and prevent illegal transactions from being carried out on the platform. Complying with anti-money laundering (AML) regulations within regulations. Related Reading | Hoskinson Celebrates Ethereum Smart Contracts On Cardano, How This Company Enables It....