Bitcoin News and Finance

Coinbase Launches Crypto Lending Service for Institutional Investors

Digital asset exchange Coinbase will be offering cryptocurrency loans to institutions in the United States. With the new service, the leading U.S. crypto trading platform seeks to fill the market gap opened by the collapse of companies like Celsius, Genesis, and Blockfi.

Crypto Exchange Coinbase Starts Offering Crypto Loans to Institutions

Cryptocurrency exchange Coinbase has launched a crypto lending service targeted at large institutional investors in the U.S., Bloomberg reported, noting that the move is aimed at capitalizing on the void left by the bankruptcies of major platforms in this sector.

According to a filing with the U.S. Securities and Exchange Commission (SEC), $57 million have been invested already in the lending program by customers of Coinbase Prime, the exchange’s brokerage platform that allows institutional players to execute trades and custody assets.

“With this service, institutions can choose to lend digital assets to Coinbase under standardized terms in a product that qualifies for a Regulation D exemption,” the crypto company said in a statement on Tuesday. The exchange can then use borrowed funds to offer loans to other institutions.

Coinbase’s new business initiative comes in the aftermath of last year’s high-profile collapses of lenders Celsius Network, Blockfi, and Genesis Global. The string of failures resulting from risky bets eventually limited borrowing and leverage options for investors.

The largest American crypto exchange has previous experience with lending through a service for retail investors, Coinbase Borrow, but it stopped issuing such loans in May. The entity that operated that service, Coinbase Credit, will manage the new institutional program as well.

Like other crypto companies, including the world’s biggest digital asset exchange Binance, Coinbase has been targeted by U.S. regulators in an ongoing crackdown on the industry that has affected crypto business in the United States.

In June, the SEC charged Coinbase with unregistered offers and sales of securities in connection with its staking-as-a-service program. The latter allowed users to give their digital coins to the exchange and earn yields to secure blockchain networks.

Do you expect institutional investors to use Coinbase’s new lending service? Tell us in the comments section below.

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Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

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Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r

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