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“# One exchange is trying to make debt tokenization a thing in crypto ” An increasing number of mainstream financial activities have become blockchain integrated in line with the growing crypto segment. Now tokenized debt markets are entering the space as well. “CoinFLEX has created a new market for short-term commercial paper, enabling private companies…
“#Feds seize $8.4M from Florida ‘ministry’ in PPP fraud case” The feds recently seized $8.4 million in coronavirus relief funds from a family-run “ministry” in Florida that appeared to be bogus, court records show. The Secret Service found the money in bank accounts linked to ASLAN International Ministry, an Orlando-based nonprofit that secured a hefty…
“#Congress close to deal on stimulus, business loans, unemployment” After about eight months of gridlock, Democrats and Republicans in Congress are nearing a deal on more COVID-19 stimulus checks, small-business loans and unemployment insurance aid. The final details of the relief package are being haggled over ahead of a government funding deadline at midnight Friday,…
“#Joel Osteen’s Lakewood Church received $4.4M COVID-19 loan” Multimillionaire televangelist Joel Osteen’s Lakewood Church in Texas netted $4.4 million in bailouts through the federal COVID-19 relief program, records show. The Houston megachurch, the largest in the nation with 52,000 weekly congregants, received the forgivable Paycheck Protection Program loan in late July, the Houston Business Journal…
“# Crypto users split on taking out loans to buy Bitcoin dips ” Taking on debt is a complex personal decision that should not be entered into without great care and financial consideration. With Bitcoin’s (BTC) recent return to all-time price highs, some moonstruck Bitcoiners have begun taking out bank loans to increase their position…
“# DeFi project Aave unlocks collateral with version 2 release ” The decentralized finance niche of crypto has boomed in 2020, paying users interest on locked funds (collateral) in exchange for loans. DeFi protocol Aave recently unveiled its second version, V2, adding further potential to the sector. “In DeFi, assets that were being used as…
“#Regal’s owner Cineworld gets $750M lifeline to avoid bankruptcy” Regal Entertainment’s UK-based owner Cineworld said Monday that it secured a financial lifeline to help it avoid a bankruptcy filing. Lenders will provide the movie-theater owner with a $450 million loan to help it keep afloat through the coronavirus pandemic. Other lenders will provide Cineworld with…
“#Nearly 300 firms that got COVID-19 loans have folded: report” Nearly 300 American businesses have folded despite receiving hundreds of millions of dollars in federal loans meant to keep them afloat during the coronavirus pandemic, a new report says. Some 285 companies that got aid from the Trump administration’s Paycheck Protection Program have filed for…
“# Yield-generating stablecoin project Origin Dollar exploited for $7M ” Origin Dollar (OUSD), the yield-generating stable token launched by Origin Protocol in late-September, has been hacked to the tune of $7 million. On Nov. 17, Origin Protocol founder Matthew Liu announced the stablecoin had been hacked, noting that $1 million of the $7 million in…
“# Bitfinex to compete with DeFi with new borrowing service ” Amid a year of significant growth for the decentralized finance space within the crypto industry, Hong Kong-based crypto exchange Bitfinex has unveiled its new lending service today, called Bitfinex Borrow. “Bitfinex Borrow is a borrowing platform,” Bitfinex chief technology officer Paolo Ardoino told Cointelegraph….