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“# Crypto lending firms on the hot seat: New regulations are coming? ” A number of states in the United States, including Kentucky, Texas, Alabama, Vermont, New Jersey and, most recently, New York have been cracking down on crypto lending. Depending on one’s perspective, these can amount to acts of collective desperation or a foretoken…
“# How to use stablecoins to earn a higher APY ” Many are quick to flock to stablecoins for their ability to de-risk cryptocurrency positions. A stablecoin can be pegged to any perceivably stable asset, for instance, a digital asset like Bitcoin (BTC) or a fiat currency like the US dollar. In theory, if a…
“# Mashinsky says USDT is minted for crypto as $1M bounty offered to unpick reserves ” A bounty of up to $1 million has been offered up to anyone who can cast light on the precise backing of Tether’s reserves. That backing just got a little bit murker, after Celsius Network CEO Alex Mashinsky reportedly…
“# Celsius responds to NYAG crackdown on crypto lending platforms ” Crypto lending firm Celsius Network has confirmed it is one of three platforms requested to provide information to the New York Attorney General’s office. In a Tuesday blog post, Celsius said it was not one of the two unnamed crypto lending platforms that New York…
“# Crypto lender Nexo confirms NYAG order, calls it a ‘mix up’ ” Cryptocurrency lending firm Nexo Financial denies the allegations of offering unregistered services to New Yorkers put forth by Attorney General Letitia James. Attorney General James directed two unnamed crypto lending companies to cease operations On Oct. 18, citing failure to register the…
“# NYAG directs 2 crypto firms to shut down, investigates 3 others ” The New York Attorney General’s office has alleged two unnamed crypto lending platforms operating in the state have engaged in unlawful activities and ordered three others to provide information on their businesses. In a Monday announcement, the New York Attorney General’s office…
“# The responsibility behind a crypto lender’s asset listing ” Crypto lenders are the institutions situated between consumers and the untamed, blockchain-based, and often unregulated space of cryptocurrencies. As such, they are in a peculiar position when it comes to responsibility towards their customers and the assets for which they provide services. Consequently, when choosing…
“# SEBA Bank launches problems for users to earn yield on crypto ” Customers of Swiss-based financial institution SEBA Bank will soon be able to earn yield on their crypto holdings. In an Oct. 13 announcement, SEBA Bank said investors could use its Bitcoin (BTC) and Ether (ETH) lending services to generate yields as part…
“# Crypto lending firm Celsius Network raises $400M ” Cryptocurrency lending platform Celsius Network has raised $400 million in a new equity funding round amid United States regulators increasingly cracking down on crypto lending. Announcing the news on Tuesday, Celsius noted that the latest funding was led by Canada’s second-largest pension fund, Caisse de dépôt…
“# Magic Internet Money races past $1B, sets sights on MakerDao ” Abracadabra Money’s stablecoin Magic Internet Money (MIM) has surged past a $1 billion total supply this month as the project works to provide competition to MakerDAO. Abracadabra is a cross-chain stablecoin lending protocol that operates on Ethereum, Binance Smart Chain (BSC), Fantom, Avalanche,…