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U.S. crypto exchange Coinbase will start offering bitcoin-backed cash loans to select customers as early as next month. Investors can borrow up to 30% of the bitcoin they hold on the exchange, or a maximum $20,000, it said. In a blog post on August 13, Coinbase unveiled its new crypto lending business, which places it … Read more
Two more South Korean banks are looking at crypto custody options. Go to Source Powered by WPeMatico
Etc Group said Wednesday that its centrally cleared bitcoin exchange-traded product (ETP) has accumulated up to $49 million in assets under management since launch on June 18, 2020. The contract, known as Bitcoin Exchange Traded Crypto (BTCE), tracks the price of BTC and is 100% physically backed by the cryptocurrency. It started trading on Deutsche … Read more
The prices of bitcoin and gold have reached a monthly average correlation of 70%, an all-time-high, according to data analytics firm Skew. The previous peak of just under 60% was reached earlier on in the second quarter of 2020. Skew said the rising correlation supports the idea that bitcoin (BTC) is a store value, particularly … Read more
Yam Finance uncovered a bug the day after ShapeShift CEO Erik Voorhees called the project a scam. Go to Source Powered by WPeMatico
This week cryptocurrency proponents discussed the firm Grayscale Investments, as the firm purchased 9,702 bitcoins (over $110 million) in the past five days. The news follows Grayscale informing the U.S. Securities and Exchange Commission (SEC) that the Bitcoin Trust (GBTC) grew over $1.6 billion in 2020. Last Friday, Grayscale Investments filed a quarterly report with … Read more
Grayscale’s Bitcoin Trust issued almost twice as many shares, but arbitrage could have played a role. Go to Source Powered by WPeMatico
Blockchain firm HashCash plans to create a federated and sovereign digital identity architecture to be used in banking processes. Go to Source Powered by WPeMatico
During the last two years investment vehicles that allow crypto asset holders to gather yields have grown exponentially and anyone can make passive income with a number of avenues. Staking validators, decentralized finance (defi) lending services, and interest rate earning accounts provide digital currency holders with the means to make their money work for them. … Read more
Coincheck’s CEO expressed optimism toward the company’s upcoming shareholder meeting app, GMO Coin announced negative leverage trading fees and more headlined news from Japan this past week. Go to Source Powered by WPeMatico