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Circle Partners With Cross River Bank, Handful of US ‘Crypto-Friendly’ Banks Remain; Okcoin Suspends USD Deposits
13.3.2023
Circle Financial, the issuer of the stablecoin USDC, is partnering with Cross River Bank after its former settlement partner, Signature Bank, was closed by New York regulators, according to a statement from CEO Jeremy Allaire. “The 1:1 redeemability of all USDC in circulation is of paramount...
Crypto-friendly bank ends loans backed by crypto mining rigs
1.2.2023
After a bullish 2021 crypto miners sought out loans to allow them to expand, a move which has since backfired following difficult market conditions in 2022
Massachusetts-Based Bankprov to End Loan Offerings Secured by Cryptocurrency Mining Rigs
31.1.2023
The Amesbury, Massachusetts-based Bankprov, a subsidiary of Provident Bancorp, has announced that it will no longer provide loans secured by cryptocurrency mining rigs. In a filing with the U.S. Securities and Exchange Commission (EX-99.1), Bankprov stated that revenue from its digital asset loan...
BankProv Stops Offering Loans Collateralized With Crypto Mining Machines
31.1.2023
The crypto-friendly bank wrote off $47.9 million in loans, primarily mining rig-collateralized debt
Bitcoin Miner Blockmetrix Raises $20M in Debt From BankProv and CrossTower
27.4.2022
The proceeds will go toward buying more mining machines and investing in joint infrastructure ventures