Quang Huy bom9x (@quanghuy2341) • Hey
Go a head and don't look back !
Publications
- Coinbase Raises $57M for Institutional Crypto Lending Service
Coinbase, one of the world’s leading crypto exchanges, has secured an impressive $57 million for its upcoming crypto lending service for institutional clients.
The introduction of Coinbase’s crypto lending service was somewhat unassuming, with the news emerging from the U.S Securities and Exchange Commission (SEC) filing on September 1st. This development has garnered significant attention, with investors and enthusiasts eagerly anticipating the potential transformation it could bring to the crypto space and beyond.
Table of Contents
Coinbase’s Unique OfferingCoinbase Learning from Genesis and BlockFi’s ChallengesCoinbase’s Solution**Coinbase’s Unique Offering**
The core idea behind this pioneering initiative is to borrow crypto assets from customers and subsequently lend them to institutional trading clients. This strategic move highlights Coinbase’s commitment to diversifying its product offerings and catering to the evolving needs of the crypto market.
What sets Coinbase’s forthcoming lending platform apart is its clear focus on institutional clients. This shift away from retail lending reflects the changing dynamics of the crypto landscape. Institutional investors, including hedge funds, asset managers, and even traditional financial institutions, have been increasingly drawn to the crypto space in recent years.
Coinbase’s move to provide lending services tailored to this demographic is a strategic response to the growing demand for crypto-related financial services among institutional players.
- Trident Digital Group Raises $8M in Seed Round
Trident Digital Group, a promising startup founded by former Coinbase executives recently secured an impressive $8 million in investment funding for its crypto lending business.
**The Trident Promise**
This funding round was co-led by White Star Capital and New Form, with prominent participation from CMT Digital, Joint Effects, and Permit Ventures. Trident’s successful fundraising efforts are a testament to the industry’s belief in the startup’s mission.
In the midst of crypto lending market turmoil, investors are showing strong support for Trident’s vision to address the core issue of counterparty risk. Anthony DeMartino, the CEO of Trident Digital Group, highlighted the significance of counterparty risk in the crypto lending market.
He emphasized that this factor, often overlooked in previous cycles, has become the primary obstacle preventing lenders from re-entering the market with confidence. Trident’s solution aims to provide a comprehensive approach to risk management, bridging the gap between security and capital efficiency.
As Trident Digital Group continues its journey, the $8 million raised in this seed round will serve as a solid foundation upon which to build. With a clear vision, a strong team, and the backing of prominent investors, Trident appears poised to make a meaningful impact in restoring liquidity and trust to the crypto lending market.
- Marathon Announces Significant Drop in Mining Rate
Marathon Digital Holdings, a Bitcoin (BTC) mining company, announced a 9% decline in total Bitcoin mined in August, which is 9% below the figure in July yet more than five times more than what was mined in August last year.
Marathon Generated 1,072 BTC in August
Marathon released its August miner installation and unaudited BTC output reports on September 5. The company stated that it generated 1,072 BTC last month, a reduction from July due to unfavorable weather conditions.
Climate Conditions are to be Blamed
Notably, compared to other blockchain networks, the network that runs Bitcoin uses a lot more energy. This is because the Proof of Work (POW) consensus method used by the blockchain requires the use of energy-hungry computers.
Marathon CEO Fred Thiel also attributes the percentage decline in BTC production to the state of the climate.
He noted: “The decrease in Bitcoin production from July was largely due to increased curtailment activity in Texas due to record high temperatures. These temporary shutdowns more than offset the progress we have made to increase our operational hash rate and optimize our operations.”
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- New imagine 2023
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- We're so exciting !
- Elon Musk Finally Closes Deal to Purchase Twitter, CNBC Reports.
Musk’s buyout occurred after a lengthy back-and-forth between the two sides.
https://www.coindesk.com/business/2022/10/28/elon-musk-finally-closes-deal-to-purchase-twitter-cnbc-reports/
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