DCG settlement with Genesis still undecided as 30-day mediation period proceeds
The settlement plan proposed in February would give Genesis creditors 80% recovery of funds but many raised demands, leading to the mediation.
Category Archives: loans
Coinbase to cease issuing new Bitcoin-backed loans via Borrow service
The service allows users to borrow up to $1 million with no credit check, provided they post Bitcoin as collateral.
Winklevoss twins infuse Gemini with personal $100M loan: Report
The cash infusion reportedly followed Gemini attempting to get funding from outside investors without success.
BlockFi to provide over $100K in refunds to California clients
At least 111 BlockFi borrowers had continued repaying loans between Nov. 11 and Nov. 22, even though they didn't need to, according to court documents.
NFT investor accidentally burns $135k CryptoPunk trying to borrow money
While going through the unfamiliar process of wrapping NFTs, Riley accidentally sent the asset to a burn address, permanently deleting the NFT from circulation.
Yield platform Stablegains sued for promoting UST: Finance Redefined
DeFi market saw another exploit this past week on the Platypus protocol, resulting in a loss of over $8 million.
Bitfarms settles outstanding loan with BlockFi for $7.75M
The Toronto-based Bitcoin mining company has reduced its debt by nearly 85% since June 2022.
Bitfarms seeks to modify loan facility with BlockFi as bear market drags on
“During 2022, Bitfarms began taking proactive actions to increase financial flexibility and to reduce indebtedness and capital expenditure obligations,” according to CFO Jeff Lucas.
SBF borrowed $546M from Alameda to fund Robinhood share purchase
An affidavit by the FTX founder revealed Alameda funded the purchase of Robinhood shares which were later used as collateral for Alameda to secure a loan from BlockFi.
Public Bitcoin mining companies plagued with $4B of collective debt
The Bitcoin mining community took up massive loans during the 2021 bull market, negatively impacting their bottom lines during a subsequent bear market.
