Category: lending

Tether Liquidates Celsius Bitcoin Loan — ‘Position Has Been Liquidated With No Losses’ to the Company

Tether Liquidates Celsius Bitcoin Loan — ‘Position Has Been Liquidated With No Losses’ to the Company

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 […]

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Blockfi CEO Says FTX Has an ‘Option to Acquire’ Crypto Lender at a Price of up to $240M

Blockfi CEO Says FTX Has an ‘Option to Acquire’ Crypto Lender at a Price of up to $240M

According to Blockfi’s co-founder Zac Prince, the company has signed definitive agreements with the crypto firm FTX and the deal is currently up to shareholder approval. The deal represents a total of $680 million, but Prince also noted that $240 million of that total could be used to acquire Blockfi at a variable price up […]

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Defi Marketplace and NFT Platform Arcade Raises $15 Million in Series A Funding Round

Defi Marketplace and NFT Platform Arcade Raises $15 Million in Series A Funding Round

The decentralized finance (defi) marketplace, non-fungible token (NFT) financialization platform, and lending application Arcade has announced the company has closed a Series A investment round for $15 million. Just recently, Arcade facilitated an onchain loan of $800,000 against an NFT portfolio from a lender with over $10 billion. Arcade Raises $15 Million in Series A […]

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Crypto lender Ledn raises $70 million, announces new bitcoin-backed mortgage product

Crypto lender Ledn raises $70 million, announces new bitcoin-backed mortgage product

Crypto lending firm Ledn announced Wednesday that it has raised $70 million in a Series B funding round and is now valued at $540 million. Dan Tapiero’s 10T Holdings led the round. As part of the deal, Tapiero is joining Ledn’s board of directors. Other new investors in the round included Golden Tree Asset Management, […]

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Celsius says ’employee’ suspended amid rumors of CFO arrest in Israel

Celsius says ’employee’ suspended amid rumors of CFO arrest in Israel

Crypto lending firm Celsius Network said Friday that it has suspended an “employee” amid rumors of its CFO Yaron Shalem’s arrest in Israel. “We were recently made aware of a police investigation in Israel involving an employee,” Celsius tweeted. “While this is in no way related to the employee’s time or work at @CelsiusNetwork, the employee […]

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Current state of DeFi in 2021: Part 1

Current state of DeFi in 2021: Part 1

Quick Take This is a section from The Block Research’s upcoming 2022 Digital Assets Outlook report Maker was the largest lending platform by value locked and outstanding debt Curve and Uniswap v3 were the largest decentralized exchanges by value locked and volume, respectively dYdX outpaced other derivatives protocols in volume after the introduction of its […]

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TrueFi: a pioneer in uncollateralized lending

TrueFi: a pioneer in uncollateralized lending

Quick Take TrueFi facilitates on-chain borrowing without collateral Borrowers need to be vetted by TrueFi, and loan applications need to be approved by stakers of TRU, the native token of TrueFi TrueFi lending pools have high utilization rates due to consistent borrowing demand from institutions A small group of entities provides most liquidity in the […]

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Bitcoin demand trends ‘downwards’ as institutions move into DeFi and ‘blue chip’ alts, says Genesis

Bitcoin demand trends ‘downwards’ as institutions move into DeFi and ‘blue chip’ alts, says Genesis

The further institutionalization of bitcoin has made it less attractive to more opportunistic traders, according to Genesis’ most recent quarterly report.  The report, which covers activity across the firm’s lending, trading, and custody businesses, noted that bitcoin demand trended downward because of a drop in opportunities for traders to profit from market inefficiencies.  “While this […]

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Mapping out the Institutional Digital Asset Infrastructure space

Mapping out the Institutional Digital Asset Infrastructure space

Quick Take The current market capitalization of the digital assets market sits at $2.5TN and nearly $17.8 billion in venture capital has poured into crypto firms from the beginning of the year From Paypal to Visa to Tesla to Morgan Stanley, some of the world’s largest and most well-respected institutions have adopted Bitcoin, digital assets, […]

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