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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
Wrapped Bitcoin Project Sees 18% Redemption of Circulating Supply in 54 Days
20.1.2023
Statistics show over the course of 54 days, the number of wrapped bitcoin (WBTC) hosted on the Ethereum network has decreased by 40,156. This equates to a more than 18% redemption of the circulating supply of WBTC since Nov. 27, 2022. WBTC Remains Largest Operation in Terms of Bitcoin Custody...
Tron’s USDD Stablecoin Experiences Fluctuations Again, Drops Below $1 Parity in Early 2023
11.1.2023
The Tron-based stablecoin USDD fell below $1 parity again during the first week of 2023 and on Jan. 10. Four days ago, the stablecoin dropped to $0.972 per unit and on Tuesday, Jan. 10, 2023, USDD slipped to $0.977 per unit. At the time of writing, the Tron-issued stablecoin is trading at 98 cents...
Mazars says users' BTC reserves on Binance are fully collateralized
7.12.2022
The scope of the AUP was limited to users' BTC holdings on Binance
Following the Great UST Collapse, a Defi Project Plans to Launch a ‘Soft-Pegged Stablecoin’ Built on Terra
1.11.2022
Following the Terra stablecoin collapse last May, the Terra blockchain ecosystem has another stablecoin concept in the works called “Solid.” The stablecoin Solid and its white paper were revealed by a decentralized finance (defi) project, Capapult Finance, and the idea has been dubbed...
USDD Becomes First Over-Collateralized Decentralized Stablecoin
6.6.2022
USDD has achieved the significant milestone of upgrading into the first over-collateralized decentralized stablecoin with a ratio of 130%, higher than the one set by DAI, which comes to 120%. A total of 700 million tokens are in economic circulation. The upgrade has resulted in a faster transaction...
Global Investment Bank Goldman Sachs Offers Its First Bitcoin-Backed Loan
30.4.2022
Global investment bank Goldman Sachs has reportedly offered its first-ever loan backed by cryptocurrency. The cash loan was collateralized by bitcoin owned by the borrower. A spokesperson for Goldman Sachs explained that the deal is interesting to the investment bank due to its structure...
Nasdaq-Listed Microstrategy Obtains $205 Million Bitcoin-Backed Loan to Buy More BTC
30.3.2022
Nasdaq-listed Microstrategy has obtained a $205 million bitcoin-collateralized loan from Silvergate Bank through a subsidiary to buy more bitcoin. “The interest-only term loan is secured by certain bitcoin held in Macrostrategy’s collateral account.” Company to Use $205M...
MicroStrategy subsidiary will purchase Bitcoin after closing $205M crypto-collateralized loan
29.3.2022
The price of Bitcoin is $47,806 at the time of publication, making MicroStrategy's current 125,051 BTC holdings worth roughly $6 billion
Lunar Labs Co-Founder Luke Youngblood Talks Moonwell Artemis and Over-Collateralized Loans
24.3.2022
Moonwell is an open lending and borrowing DeFi protocol on Moonbeam and Moonriver. Moonwell’s composable design can accommodate a full range of DeFi applications in the greater Polkadot and Kusama (DotSama) ecosystem. Luke Youngblood is the co-founder of Lunar Labs, which is developing...
Makerdao Dev Insists Defi Protocol Should Leverage Real World Assets to Scale
20.3.2022
On March 16, the protocol engineer at Makerdao and co-founder of the software and design firm Bellwood Studios, Hexonaut, announced a proposal to use real world assets (RWAs) in order to scale the decentralized finance (defi) protocol Makerdao. Hexonaut insists the bull market was good,...
Santander to Offer Loans Backed by Agricultural Commodity Tokens
10.3.2022
Santander is developing the possibility of offering loans backed by tokens that are collateralized in agricultural products. The bank has partnered with Agrotoken, a company that launched a series of agricultural commodity tokens already being used in agriculture-related markets to make...
Panther Protocol CTO Anish Mohammed Explains How to Infuse DeFi With Privacy
15.2.2022
Panther is an end-to-end privacy protocol for DeFi. Panther provides DeFi users with fully collateralized privacy-enhancing digital assets, leveraging crypto-economic incentives and zkSNARK technology. Anish Mohammed is a Co-founder and CTO at Panther Protocol. He recently joined the Bitcoin.com...
Hashstack launches Open protocol testnet, offering under-collateralized loans
7.2.2022
Harmony's Ecosystem Fund financed Hashstack's solution to improving DeFi lending
Maker Co-Founder Calls UST and MIM ‘Solid Ponzis’ That Will Go to Zero
8.1.2022
Rune Christensen, one of the founders of Maker, the decentralized autonomous organization behind the governance of stablecoin DAI, has spoken out against two competitors. He stated that UST, Terra’s dollar-pegged stablecoin, and MIM, another collateralized stablecoin, were “solid...
NFT-collateralized loan platform Arcade raises $15M in funding round
22.12.2021
Pantera Capital's Lauren Stephanian said the platform’s collateralization of NFTs could incentivize participation from institutional investors
NFT-based Fixed Lending Protocol Pledge Backed by Stanford Alumni Announces Successful Fundraise
18.9.2021
PRESS RELEASE. Pledge Finance is launching a cross-chain decentralized finance ecosystem, purpose-built for the financial sector following a successful private round in which it raised more than $3 million. Hong Kong – Pledge Finance, an algorithm-driven, multi-chain decentralized finance...
Beefy and Iron to Push Partial-Collateralized Stablecoin
14.6.2021
Beefy Finance recently announced joining hands with Iron Finance, making for a deadly DeFi duo. The integration sees Beefy bringing secure and reliable IRON vaults to help Beefy users gain optimal returns. With a compounding rate of 10x per minute, IRON vaults are helping the Beefy community yield...
New DeFi ‘passport’ could enable under-collateralized crypto loans
3.6.2021
Arcx has launched a new version of its “DeFi Passport,” Sapphire, promising the pseudonymous on-chain credit check will enable new decentralized finance products