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“# Tether fires back against report it is using reserves for investments and making crypto-backed loans ” Tether (USDT), the largest stablecoin issuer by market capitalization, has refuted the details of a Bloomberg story on its reserves holdings. In a Thursday report, Bloomberg journalist Zeke Faux made numerous claims against Tether, including that its chief…
“# Silvergate Bank issues $100M credit line to mining firm Marathon Digital ” Marathon Digital Holdings, a United States-based crypto mining company, has secured a $100 million revolving line of credit with Silvergate Bank using USD and Bitcoin. According to information provided by Marathon Digital, the mining firm obtained the $100 million credit line from…
“# Argo Blockchain secures $25M Bitcoin-backed loan from Galaxy Digital ” Argo Blockchain has secured another loan agreement from Galaxy Digital LP with the mining firm’s Bitcoin (BTC) as collateral. According to an announcement by the London Stock Exchange on Friday, the new Bitcoin-backed loan agreement is to the tune of 18.05 million pounds (about…
“# Second largest US mortgage lender will accept crypto payments this year ” United Wholesale Mortgage (UWM), the second-largest U.S.-based mortgage lender is planning to accept cryptocurrency payments this year starting with Bitcoin (BTC). UWM CEO Mat Ishbia revealed the crypto plans on Monday in a conference call regarding the firms’ Q2 results — with…
“# Alex Saunders again under fire after virtual HQ in Decentraland fails to launch ” Australian crypto influencer and Nuggets News founder Alex Saunders is facing backlash over his non-fungible token (NFT) sale from late last year. Nuggets News is a paid group providing technical analysis and crypto tips to subscribers that was founded by…
“#Square shares tumble after it announced $29B Afterpay deal” Shares of financial services company Square tumbled almost 5 percent in premarket trading Monday after it announced a $29 billion deal to acquire “buy now, pay later” firm Afterpay. Square, which is helmed by Twitter boss Jack Dorsey, announced the all-stock deal on Sunday evening. Shares…
“# Square to acquire Australian fintech Afterpay in $29B deal ” Jack Dorsey’s cryptocurrency-friendly digital payments firm Square is expanding competition with global payment giants like PayPal by acquiring a major Australian lending company. Square announced Sunday that the firm has entered into a scheme implementation deed to acquire all of the issued shares in…
“# Argo Blockchain receives $20M Bitcoin-backed loan from Galaxy Digital for Texas mining facility ” Galaxy Digital has issued a $20 million loan to U.K.-based crypto mining company Argo Blockchain for building a data center in West Texas. In a Tuesday announcement from Argo, the firm said it had secured £14 million — roughly $19.4…
“# New DeFi ‘passport’ could enable under-collateralized crypto loans ” Decentralized finance (DeFi) protocol Arcx has announced the launch of Sapphire v3, a DeFi passport allowing crypto users to pseudonymously build and verify their reputation on-chain. Announced June 2, the DeFi passport will score users on a scale between 0 and 1,000, with Arcx advancing…
“#Lenders look to lure consumers with lax standards” Banks are loosening standards to qualify for credit cards and personal loans — and it’s not because they’re feeling generous. After tightening credit during the onset of the pandemic, a deluge of defaults that banks had been bracing for never materialized. Instead, consumers hunkered down at home…