Crypto lending firm Celsius Network has confirmed it is one of three platforms requested to provide information to the New York Attorney General’s office. In a Tuesday blog post, Celsius said it was not one of the two unnamed crypto lending platforms that New York Attorney General Letitia James ordered to “cease any and all such activity” around selling or offering cryptocurrencies. Rather, Celsius said it was “working on providing regulators in New York” with information regarding its business. “If any regulatory or technical changes are required in a specific jurisdiction, Celsius will provide clear and timely communication as needed,” …

Cryptocurrency lending firm Nexo Financial denies the allegations of offering unregistered services to New Yorkers put forth by Attorney General Letitia James. Attorney General James directed two unnamed crypto lending companies to cease operations on Monday, citing failure to register the business in New York and performing unlawful activities. Crypto lender Nexo is revealed to be one of the two companies to receive the cease and desist order from the Office of the Attorney General. Denying its involvement in unlawful operations, a Nexo spokesperson said: “Nexo is not offering its Earn Product and Exchange in New York, so it makes …

The New York Attorney General’s office has alleged two unnamed crypto lending platforms operating in the state have engaged in unlawful activities and ordered three others to provide information on their businesses. In a Monday announcement, the New York Attorney General’s office said it has ordered two crypto lending platforms — at the time of publication, the names were still redacted — to “cease any and all such activity” relating to selling or offering securities and commodities within ten days. Attorney General Letitia James also requested that three crypto businesses operating in New York — names redacted — provide details …

Got it. But how do I know that I’m using the right aggregator? The increased development and investment in DeFi means that there is a constant stream of new products and ways for users to engage with the DeFi community. This also means more research is required into what protocols are offering and what services are available. One such aggregator, Feeder Finance, offers a user-friendly interface that supports smart contracts, attracts new users and maintains an ever-growing DeFi community. As a leading aggregator with a community of over 10,000 monthly users, the platform offers an efficient front end and focused …

Crypto lenders are the institutions situated between consumers and the untamed, blockchain-based, and often unregulated space of cryptocurrencies. As such, they are in a peculiar position when it comes to responsibility towards their customers and the assets for which they provide services. Consequently, when choosing which currencies to support, lenders lead a delicate dance of responsibility, a balancing act between catering to popular demand and adding cryptocurrencies that are sustainable, worthwhile and safe. Demand vs. approval: The question of endorsement It’s unsurprising that in a nascent industry full of new investors, a lender’s asset integration is often taken for endorsement. …

Customers of Swiss-based financial institution SEBA Bank will soon be able to earn yields on their crypto holdings. In a Wednesday announcement, SEBA Bank said investors could use its Bitcoin (BTC) and Ether (ETH) lending services to generate yields as part of its SEBA Earn program. According to the bank, which focuses on offering digital assets, it planned on integrating support for other cryptocurrencies. “As institutional interest in digital assets accelerates, investors have a broader appetite for crypto assets, with a particular interest in earning services such as staking, DeFi and centralized crypto borrowing and lending,” said SEBA Bank CEO …

Cryptocurrency lending platform Celsius Network has raised $400 million in a new equity funding round amid United States regulators increasingly cracking down on crypto lending. Announcing the news on Tuesday, Celsius noted that the latest funding was led by Canada’s second-largest pension fund, Caisse de dépôt et placement du Québec (CDPQ), and WestCap, an equity firm established by former Airbnb executive Laurence Tosi. Celsius Network raises $400m. @FT "The funding round was led by WestCap... and Caisse de dépôt et placement du Québec (CDPQ)." More:https://t.co/L5wpMxCvcR — Celsius (@CelsiusNetwork) October 12, 2021 The firm intends to use the proceeds from this …

Abracadabra.Money’s stablecoin, Magic Internet Money (MIM), has surged past a $1-billion total supply this month as the project works to provide competition to MakerDAO. Abracadabra is a cross-chain stablecoin lending protocol that operates on Ethereum, Binance Smart Chain (BSC), Fantom, Avalanche and Arbitrum. Along with MIM, the project also has a SPELL governance token that can be staked on the protocol. The project describes itself as a “spell book” that enables users to provide collateral via interest-bearing tokens, such as yvUSDC and xSUSHI, and to borrow the MIM stablecoin against their tokens. “To reverse the spell, the caster simply returns …

Hackathons have gained popularity in the crypto space as the hunt for talent is continuing. Lisk, a blockchain application platform, is launching their second HackOnLisk event, where developers will have the opportunity to build a blockchain application with the latest Lisk SDK following its July hackathon. This time, they are celebrating the new Mainnet v3 and would like developers to hone in on the areas of decentralized finance (DeFi) and GameFi. DeFi applications to consider include decentralized exchange (DEX), lending and stablecoins projects. GameFi (financialization of games) applications include blockchain games and collectibles. For HackOnLisk2, there is a total of …

Until recently, the majority of Bitcoin (BTC) lending took place on centralized platforms. This was predominantly because of the cumbersome process involved in tokenizing Bitcoin into a wrapped ERC-20 version before it could be deposited on the Ethereum (ETH) network. The resulting implication of this inconvenience was not just the additional transaction fees and slippage incurred but a fragmented decentralized finance (DeFi) ecosystem. Currently, only 1% of Bitcoin is circulating on Ethereum. BiFi is a platform that facilitates real Bitcoin lending on DeFi by connecting the Bitcoin and Ethereum networks directly. The platform describes itself as “like Compound or Aave, …

After facing bankruptcy, recovering from a low credit score, or attempting to start a new business, many have found out just how difficult it can be to take out a loan from the bank. As a result, lending is said to have become increasingly inaccessible. Combatting this concern are decentralized finance (DeFi) loans, which have continued to gain in popularity. A DeFi loan eliminates the need for banks and complex asset valuations. Instead, a decentralized exchange (DEX) may take cryptocurrencies as collateral at their market exchange rate. The only thing holding DeFi loans back from more widespread adoption is the …

Coinbase CEO Brian Armstrong claims that the United States Securities and Exchange Commission is the only government branch that is unwilling to meet with the firm. Speaking on Anthony Pompliano’s Best Business Show on Friday, Armstrong said that during his visit to Washington after Coinbase went public in April, the SEC was the “only regulator” that refused to meet with him: “I reached out to the SEC. I tried to get a meeting with them. They told me that they weren’t meeting with any crypto companies.” “I was kind of surprised by that because there are so many different regulators …