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The gold industry has been shaken after it was discovered that 83 tons of fake gold bars have been used as collateral for loans worth 20 billion yuan from 14 financial institutions to a major gold jewelry manufacturer in Wuhan, China. This amount of gold “would be equivalent to 22% of China’s annual gold production […]
The post Gold Industry Shaken as 83 Tons of Fake Gold Bars Used to Secure $2 Billion Loans in China appeared first on Bitcoin News.
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MakerDAO governance token holders voted to accept wBTC as the fourth collateral asset in the Maker DeFi Protocol.
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While decentralized finance (defi) solutions have grown popular on the Ethereum blockchain, developers have recently created similar systems by leveraging BTC’s network. A project called Atomic Loans claims to offer a noncustodial bitcoin-backed stablecoin solution, while Money on chain a new smart contract built on the RSK protocol, also offers a stablecoin token. An Attempt […]
The post Stablecoins and Crosschain Loans: 2 Projects Attempt to Bring Defi Solutions to Bitcoin appeared first on Bitcoin News.
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If you are not ready to part with decentralized money, at a time when prices are relatively low, but need some fiat cash to cover costs in times of crisis, crypto-backed loans are a working solution. A number of platforms offer this type of service and their popularity is growing among cryptocurrency enthusiasts who are […]
The post 10 Loan Providers Taking Crypto as Collateral, If You Think the Time Is Right for Hodling appeared first on Bitcoin News.
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Since March 12, the Makerdao community has been struggling with the stablecoin DAI which has been over $4 million undercollaterized since the crypto market carnage started. On March 18, the developers plan to auction newly minted maker (MKR) tokens in order to remove the outstanding debt. However, the auction might not be enough and the […]
The post Devs Debate Using USDC for Collateral After DAI Stablecoin Faces Liquidity Issues appeared first on Bitcoin News.
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The price of ethereum dropping double digits on March 12 sent shockwaves through the decentralized finance (defi) community. Makerdao’s single collateral DAI has been struggling and the low price of ETH has left millions worth of DAI undercollateralized. The defi project’s undercollateralizition was also blamed on price oracle discrepancies. Also read: The 35 Most Influential […]
The post ETH Price Strains Defi Collateral Loans as ‘Black Swan’ Event Strikes Makerdao appeared first on Bitcoin News.
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U.S.-based Silvergate Bank has launched a bitcoin collateralized loan product with Bitstamp as its launch partner. The crypto exchange will act as the bank’s agent to manage and provide custody for bitcoin collateral. The product utilizes Silvergate Bank’s Exchange Network to fund loans and process repayments in real time. Also read: Regulatory Roundup: EU-Wide Crypto […]
The post Silvergate Bank and Bitstamp Launch Bitcoin Collateralized Loans appeared first on Bitcoin News.
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CoinLoan is among the first to offer loans secured by Bitcoin Cash
As we mentioned in our previous updates, new assets are about to join CoinLoan’s list of cryptocurrencies soon. CoinLoan keeps its promises, and today, we pride ourselves on adding a new collateral currency to the CoinLoan platform — Bitcoin Cash (BCH).
The post PR: CoinLoan Welcomes Bitcoin Cash to Their List of Collateral Currencies appeared first on Bitcoin News.
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With cryptocurrency markets back to life, hodling sounds like a smart strategy once again. Cryptocurrency owners are now more likely to pledge coins to borrow fiat if they need it, rather than sell their appreciating digital assets. The spread of crypto-backed loans could also be a good indicator of investor sentiment. According to a source […]
The post Renewed Market Growth Has Sparked Demand for Crypto-Backed Loans appeared first on Bitcoin News.
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Since tether (USDT) bolstered the idea of a working stablecoin over the last few years, there’s been a variety of different types of stable cryptocurrencies that are usually pegged to the U.S. dollar. However, there’s one particular stablecoin that’s been a hot topic of discussion lately called dai, a coin that’s backed by ethereum locked […]
The post An In-Depth Look at Ethereum’s Maker and Dai Stablecoin appeared first on Bitcoin News.
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