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Hashstack aims to disrupt and improve the appeal of decentralized borrowing and lending. Users can access under-collateralized loans through its Open Protocol at a 1:3 collateral-to-loan ratio. It is a welcome change for the broader DeFi industry, as current collateralization rates remain too high. Adjusting Loan Collateralization In DeFi In traditional finance,
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Goldman Sachs has offered its first Bitcoin- (BTC)-backed loan, in a major step forward for institutional cryptocurrency adoption on Wall Street. A spokeswoman from Goldman told Bloomberg that the multinational investment bank had lent cash collateralized by Bitcoin owned by the borrower for the first time in Goldman Sachs’ history. She added
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The global investment bank allowed a borrower to use the cryptocurrency as collateral for a cash loan. Original Source
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Loans based on cryptocurrencies have become a mainstay of the decentralized finance (DeFi) universe ever since the smart contract-based lending/borrowing platforms began offering the service to crypto users. The Ethereum network, the first blockchain that scaled the smart contract functionality, sees most of the total value locked (TVL) on DeFi
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“You pick an NFT from your inventory and you input the [loan] parameters you’re looking for. You might say, I have an NFT. I think it’s worth $5,000. I want to borrow $2,000 against it, and I’m willing to pay 3% over a 30 day period. And if [a lender
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MacroStrategy LLC has received a bumper loan from Silvergate Bank. The terms provide the company with $205 million earmarked for a massive bitcoin purchase. Also, MacroStrategy’s loan is collateralized by Bitcoin held by the firm’s parent company – MicroStrategy. According to a press statement released on Tuesday (March 29, 2022), MacroStragegy has
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Nasdaq-listed Microstrategy has obtained a $205 million bitcoin-collateralized loan from Silvergate Bank through a subsidiary to buy more bitcoin. “The interest-only term loan is secured by certain bitcoin held in Macrostrategy’s collateral account.” Company to Use $205M Bitcoin-Backed Loan to Purchase Bitcoin The Nasdaq-listed pro-bitcoin software company Microstrategy announced Tuesday that one
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MacroStrategy, a subsidiary of business intelligence firm MicroStrategy, said it will purchase Bitcoin after obtaining a multimillion dollar loan from Silvergate Bank.In a Tuesday announcement, MicroStrategy said Silvergate issued a $205 million loan “secured by certain Bitcoin held in MacroStrategy’s collateral account.” The firm's subsidiary MacroStrategy will be using the
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The term loan from Silvergate Bank can also be used for general corporate purposes. Source
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Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link.Top Stories This WeekBiden to sign executive order on crypto,
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