Crypto News

Bitcoin mining firm Hut 8 (HUT) said on Tuesday that it expanded its bitcoin-backed credit facility with Coinbase Credit to $130 million, up from $65 million.The amended agreement also comes with a fixed interest rate of 9% versus the previous floating rate of between 10.5% and 11.5%. The maturity of the facility was extended to July 16, 2026.“This facility has been an efficient source of capital on our balance sheet,” said Sean Glennan, Hut 8’s chief financial officer. “The combination of improved terms and collateral and borrower protections reflects our conviction that risk discipline is essential to building a resilient and efficient capital structure.”Unlike many traditional loans, this one is secured by bitcoin holdings. Coinbase, however, is restricted from rehypothecating...

DRW Venture Capital and Tradeweb Markets led the funding round, which also included Circle Ventures, Goldman Sachs, and Citadel Securities.Source link

Risk-on appetite for crypto returns with a vengeance as geopolitical tensions ease, sending speculative assets soaring to multi-week highs.Source link

We stream data. We stream music. We stream video. Thanks to stablecoins, we are about to start streaming the whole economy.U.S. dollar stablecoins recently hit a milestone–they represent about 1% of the U.S. money supply (based on the M2 measure). Not a big deal, you may be thinking, but in fact, it might become one in the near future.Stablecoins are growing at a phenomenal rate, about 55% per year. While that is unlikely to continue forever, it is not hard to foresee a future, less than a decade away, where stablecoins represent an amount equal to about 10% of the M1, which is defined as cash, notes, and "easily accessible" digital money like current bank accounts.Stablecoins are designed to be...

The largest publicly traded Ethereum treasury company, SharpLink Gaming, added more than $30 million worth of ETH to its stash last week.Source link