and has indicated that it would sue the company if it moves forward with the program. New Jersey’s securities regulator in July accused the crypto lender BlockFi of selling an unregistered security, a dispute that could prevent the company from opening new “interest accounts.” BlockFi said it is in discussions with regulators and believes the accounts are legal.The loan’s rate stands around 10%. Mr.
Many borrowers use the loans to amplify their bets on crypto. Kris Kostadinov, who goes by Kris Kay, took out a loan worth $14,000 in the tether stablecoin from the decentralized-finance platform Aave earlier this year and used the proceeds to buy ether. He used the ether to trade in and out of nonfungible tokens, or NFTs, which are blockchain-based authenticity certificates attached to digital assets such as artwork and sports highlights.
Mr. Anderson, 30 years old, began investing in crypto in its early years. “I’m a crypto Boomer,” he said. In the decade since crypto’s start, the market has come to resemble the traditional financial system, with its own infrastructure of exchanges, market makers and lenders that help investors convert their digital currencies into dollars.Have you invested in cryptocurrency? What steps do you take to prevent big losses? Join the conversation below.
Mr. Anderson declined to give the size of his loan. The median home price in the San Francisco area is just over $1.5 million, according toHe said he pledged ether worth 2½ times the amount of the loan to lower the odds of a margin call.
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And yet there is no systemic risk involved as it is all collateralized. Beautiful.
Let's go thekriskay
good luck sleeping well at night with that volatility
BowTiedBull NGMI
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What could possibly go wrong?
A whole new financial world developing
huge congrats to thekriskay WealthSquad
that is amazing thekriskay !!!
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