Crypto Lenders – DIGIT INFO

Nexo Bitcoin Withdrawals Surge Following Raid of Bulgarian Offices

DIGIT — Fri, 13 Jan 2023 17:30:06 +0000

After the offices of crypto lender Nexo were raided in Bulgaria, the digital currency lending platform experienced a significant amount of withdrawals starting Jan. 12, 2023. An archived snapshot of Nexo’s real-time attestation shows that the company held 133,263 bitcoin on that day. As of Jan. 13, 2023, Nexo’s attestation indicates that the company now […]

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More Than a Half Dozen US Securities Regulators File Actions Against Crypto Lender Nexo

DIGIT — Mon, 26 Sep 2022 22:30:19 +0000

Crypto lender Nexo is having issues with state authorities from California, New York, Washington, Kentucky, Vermont, South Carolina, and Maryland. The enforcement actions from multiple state securities regulators detail that Nexo’s Earn Interest Product (EIP) may be in violation of securities laws. Nexo Targeted by Several Securities Regulators Over the Crypto Lender’s Earn Interest Product […]

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Bitcoin Interest-Bearing Accounts Were Conceived Over Ten Years Ago, but the Idea Took 8 Years to Catch On

DIGIT — Thu, 08 Sep 2022 21:30:43 +0000

While decentralized finance (defi) has created a plethora of protocols that make it so crypto assets can gather a yield, ten and a half years ago a bitcoin exchange called Bitcoinica introduced the first interest accruing system for bitcoin deposits. Despite being the first to test the waters, Bitcoinica eventually went bust after a series […]

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Since 2014, Roughly 42% of Failed Crypto Exchanges Have Disappeared Without a Trace for No Apparent Reason

DIGIT — Mon, 25 Jul 2022 16:30:55 +0000

Just recently, coinjournal.net published a report that shows the number of cryptocurrency exchanges that have failed during the last eight years. Interestingly, the researcher’s data shows that 42% of failed crypto asset trading platforms disappeared without a trace, giving users no explanation as to why the exchange shut down. During the Past 8 Years, Research […]

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Report: $4B in Bitcoin Mining Loans Are in Distress — JPMorgan Analyst Says Price Pressure Stems From Miner Sales

DIGIT — Mon, 27 Jun 2022 14:00:41 +0000

Cryptocurrency-related lending has become a black smudge for the industry these days and according to a recent report, bitcoin’s low price has put billions in mining loans under stress. The report, which quotes the co-founder of mining company Luxor Technologies, Ethan Vera, says that roughly $4 billion in loans backed by crypto mining rigs are […]

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Crypto Lender Blockfi Secures $250 Million Line of Credit From FTX, CEO Says Capital Will Bolster Its Balance Sheet

DIGIT — Tue, 21 Jun 2022 19:30:53 +0000

The crypto lender Blockfi detailed on Tuesday that the company secured a $250 million line of credit from FTX. Blockfi’s CEO Zac Prince announced on Twitter that the company will use the capital to bolster Blockfi’s “balance sheet and platform strength.” Blockfi Obtains $250 Million Revolving Credit Line From FTX After Crypto Lending Firms Struggle […]

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