Tags : Collateral


Regulation

Bankrupt BlockFi Sueing FTX Founder Over Robinhood Shares Promised as

The lately bankrupt crypto lender BlockFi is suing FTX CEO Sam Bankman-Fried to acquire shares of Robinhood he allegedly pledged to the corporate as collateral earlier this month.  The submitting, which was initially reported by The Monetary Instances, got here simply hours after BlockFi filed for chapter, citing “a liquidity disaster” attributable to publicity to […]Read More

Cryptocurrency

Somebody Borrowed $1.3M in Ethereum Utilizing Mutant Ape NFTs as

DeFi lending was already large enterprise, however a shortly rising area of interest is borrowing towards precious NFTs and utilizing them as collateral for loans. Fragment, the holder of a pair of Mutant Ape Yacht Membership NFTs, borrowed 1,000 ETH—round $1.3 million—utilizing the star-studded JPEGs as collateral right now. “It’s superior to see these loans […]Read More

Cryptocurrency

BlockFi Had $600 Million in Crypto Loans Not Coated by

Crypto lending platform BlockFi held “mortgage publicity” totaling $600 million by the top of June, in accordance with the corporate’s “Q2 2022 Transparency Report,” launched on Friday. The report confirmed BlockFi held an institutional and retail mortgage portfolio totaling $1.8 billion, with $1.2 billion in mortgage collateral. The agency defines its web “publicity” to a […]Read More

Bitcoin

Celsius Recovers Over $400M in Staked Ethereum Collateral From Aave

The struggling crypto lending platform Celsius has practically cleared all of its excellent DeFi debt after recovering 400,000 collateralized Staked Ethereum (stETH) from its mortgage on Aave. The withdrawal quantities to $415 million in crypto that’s been saved from the danger of liquidation—nearly a tenth of the asset’s $4.4 billion market cap. As revealed by […]Read More

Bitcoin

Ethereum Now The Major Collateral for Decentralized Stablecoin DAI

The algorithmic stablecoin DAI is now backed by extra Ethereum than the centralized stablecoin, USD Coin (USDC).  The milestone comes after months throughout which USDC made up greater than 50% of the decentralized cryptocurrency’s backing.  At press time, the quantity of Ethereum backing DAI has risen to 41.4%, and the quantity of USDC has fallen […]Read More

Ethereum

Société Générale Applies for $20M MakerDAO Mortgage Utilizing Bond Token

A flowchart included within the proposal exhibits six entities: SocGen; SocGen Forge; the MakerDAO protocol; The DIIS Group that may function a “safety agent,” a requirement underneath French regulation to implement the phrases of the mortgage on the real-world facet on Maker’s behalf; an as-yet unappointed MakerDAO authorized consultant; and an as-yet unnamed third celebration […]Read More

Bitcoin

PleasrDAO Makes use of NFTs as Collateral for $3.5 Million

In short PleasrDAO, an funding collective, used NFTs as collateral for a mortgage. The mortgage got here from a platform referred to as the Iron Financial institution—a part of the DeFi protocol Cream Finance. Earlier this 12 months, hackers stole $37.5 million after discovering a loophole within the Iron Financial institution system. PleasrDAO, an funding […]Read More

Bitcoin

5% Of Bitcoin Provide Anticipated To Be Used As Collateral

Solely just lately has the world of finance open its eyes to the potential of Bitcoin. Because the asset’s worth climbs, the assorted use circumstances it might serve additionally involves gentle. In response to new information, as a lot as 5% of the entire BTC provide is projected for use as collateral by the yr […]Read More