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"After the fall of Genesis, BlockFi, Celsius, and others, a major gap in the market emerged for responsibly managed secured loans for institutions. Two Prime is well-positioned to fill it," Blume said, adding that we are focused on institutional borrowers. Original Source
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The reserves for stablecoin issuer Tether contained approximately 86% cash and cash equivalents as of September 30, according to a new attestation report from accounting firm BDO. This is the highest percentage of cash and cash equivalents that have ever made up Tether’s reserves.Tether today releases its attestation for Q3
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Can Sun testified on day 12 of the Sam Bankman-Fried trial. Original Source
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Sam Bankman-Fried’s legal team is looking for permission to probe the alleged involvement of FTX lawyers in the issuance of $200 million worth of loans from Alameda that were approved by Gary Wang.As previously reported in the build-up to the highly anticipated trial, an Oct. 1 court ruling provisionally barred
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Wang’s “understanding that these were actual loans – structured by lawyers and memorialized in formal promissory notes that imposed real interest payment obligations – is relevant to rebut the inference that these were simply sham loans directed by Mr. Bankman-Fried to conceal the source of the funds,” the filing said. Source
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Tether, the largest stablecoin issuer in the crypto market, has seen a rise in its stablecoin lending, or secured loans, in 2023, despite the firm having announced it will cut such loans down to zero in December 2022. In the company’s latest quarterly report, Tether noted that its assets included $5.5 billion
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Following the strategic partnership, Westlake Financial will leverage Pagaya’s relationships with asset managers and other partners to finance the auto loans. Westlake Financial, an established automotive fintech company with over $24 billion in Assets Under Management (AUM), has announced a strategic partnership with Pagaya Technologies Ltd (NASDAQ: PGY), an Artificial Intelligence
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Australian fintech firm Block Earner is charging ahead with plans to launch a crypto-backed loans product, despite staring down an upcoming court date with the financial regulator for allegedly offering financial products without a license. The new crypto loan product allows Australian crypto investors to use crypto as collateral to borrow
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Genesis Global is suing its parent company, Digital Currency Group (DCG), to recover $620 million in unpaid loans amid ongoing bankruptcy proceedings and settlement talks. The lawsuit was filed in a New York bankruptcy court on Wednesday, Sep. 6. Genesis’ lawsuit centers on loans they claim matured in May. This debt
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Bankrupt cryptocurrency lender Genesis Global Capital (GGC) filed two suits on Sept. 6 seeking the repayment of overdue loans from affiliated companies. The loans are worth over $600 million in total. GGC filed the complaints against Digital Currency Group (DCG) and DCG International Investments (DCIG) in the Southern District of New
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