Coinbase Expands Bitcoin-collateralized Loans, Signs 401k Investment Deal

Coinbase Expands Bitcoin-collateralized Loans, Signs 401k Investment Deal

“Coinbase, a publicly traded cryptocurrency exchange, announced today that it will expand its Bitcoin-collateralized loans for 17 more states in the U.S.The expansion of the exchange’s Bitcoin-collateralized loans now also allows customers to borrow up to 40% on their Bitcoin holdings. The expansion will now be offered as fixed-term BTC collateralized loans to Alaska, Arkansas, Connecticut, Florida, Illinois, New Hampshire, New Jersey, North Carolina, Oregon, Texas, Virginia, Nebraska, Utah, and Wyoming. Alongside this expansion, lines of credit will also be opened for Arizona, California, and Iowa.The process involves deposits to a loaner’s bank or PayPal account and allows them to retain their crypto positions in the event of an emergency need for fiat amounts.This recent update from Coinbase will allow customers to borrow up to $100,000 worth of cash against their BTC hold on the exchange’s treasury, with a 7.9% APR interest for the loan. The loans require a low payment minimum of $10 per month, and loan applicants will not be subjected to credit checks or any other fees aside from the interest stated.Coinbase has also signed a recent Bitcoin investments deal with 401k provider ForUsAll Inc., a 401k provider with $1.7 billion in retirement-plan assets, allowing the firm’s employer clients to invest in crypto. The recent strategic deal aims to expand its crypto exposure to a wider audience.While ForUsAll Inc. only represents a small sum in the $22 trillion retirement-account market, this step towards the integration of cryptocurrency and blockchain technology into the retirement-account market is a first and provides a more flexible and alternative investment stream for retirees.According to  David Ramirez, Chief Investment Officer at ForUsAll, workers from companies affiliated with the firm who sign up for the crypto offering may elect to transfer up to 5% of their account balances to a pre-planned and self-directed cryptocurrency window. The window will use Coinbase’s institutional trading platform, and will open access to around 50 cryptocurrencies available on the market.Employees of participating ForUsAll clients may also invest up to 5% of each payroll contribution in the form of crypto. ForUsAll has also disclosed that it has plans of eventually adding small allocations with other alternative investment streams aside from crypto, a roadmap that includes extensions to private equity, venture capital, and real estate.Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.”

Source: Crypto Daily™

El Salvador’s Bitcoin (BTC) Rollout Faces More Criticism, Here’s Why

“The El Salvadoran government is under severe criticism concerning the recent adoption of bitcoin as its native currency. The complaints arose even further after the Government announced that they bought more bitcoin in the current dip. It’s not clear if the people will continue using this coin or eventually boycott

Bitcoin mining difficulty surges 31% since July

“Mining new Bitcoin keeps getting harder, but the current difficulty is still far from its record highs. As the Bitcoin network hash rate continues to recover amid global miners accumulating more capacity, the cryptocurrency is getting increasingly difficult to mine.On Tuesday, the Bitcoin network posted another mining difficulty adjustment, rising 3.2%

Solana-based DEX Soldex AI: An interview with CEO John Robertson

“It is no surprise that with wider cryptocurrency adoption things are moving faster and faster in the blockchain world. And it became very clear that the cryptocurrency exchange market is evolving rapidly, which led to the demand for new technologies being implemented. Soldex AI is hoping to take their users