Schlagwort: crypto business

• Coinbase has introduced USDC loans with Bitcoin as collateral.
• The loans are available for US customers.
• The loans have no fixed repayment and they auto-adjust based on the activities on Base.

In a move to expand its decentralized finance (DeFi) offerings, Coinbase has introduced a novel service allowing its US customers (excluding those in New York) to borrow USD Coin (USDC) by leveraging their Bitcoin (BTC) as collateral.

This innovative feature, announced in a recent update, aims to provide users with quick and flexible access to funds without the necessity of selling their Bitcoin.

The process leverages Coinbase’s cbBTC stablecoin

Users pledge their Bitcoin (BTC), which is then converted into cbBTC, a wrapped version of Bitcoin specifically designed by Coinbase for use in DeFi applications. This conversion enables Bitcoin, which typically operates outside the DeFi ecosystem due to its technical framework, to interact seamlessly with DeFi protocols.

The cbBTC is subsequently sent to Morpho, a DeFi lending protocol built on Coinbase’s Base blockchain. In return, borrowers receive USDC, a stablecoin pegged to the US dollar, which they can utilize for various purposes such as covering expenses, international transfers, or conversion into US dollars.

The interest rates on these loans are dynamically adjusted based on market activities on the Base blockchain, reflecting Coinbase’s commitment to aligning DeFi with user needs.

Notably, this loan service comes at a time when the crypto lending sector has been under scrutiny following the high-profile bankruptcies of entities like Celsius and BlockFi in 2022, which significantly dented trust in crypto lending.

By integrating with Morpho, Coinbase is stepping in as a middleman to potentially restore some confidence, offering a transparent, smart contract-based lending experience.

No fixed repayment timelines

What sets this service apart is the absence of fixed repayment schedules. Borrowers have the liberty to repay the loan at their own pace, as long as the value of the Bitcoin collateral remains above a certain threshold relative to the loan amount.

However, should Bitcoin’s value plummet, the system is designed to automatically liquidate enough collateral to cover the loan, safeguarding the protocol’s integrity.

The advantages of such crypto-backed loans are manifold. For one, they allow users to bypass immediate capital gains taxes by borrowing against their assets rather than selling them. Moreover, these loans operate on blockchain technology, ensuring transparency and efficiency through automated processes.

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• Crypto-friendly trading platform eToro files for US IPO.
• eToro is eyeing the IPO at a valuation of $5 billion.

eToro, a crypto-friendly trading platform and social investment network, has reportedly filed for public listing in the United States.

The Financial Times reported on Jan. 16 that eToro had submitted an application for an initial public offering with the US Securities and Exchange Commission. The company’s quest for an IPO in the US comes with the SEC filing likely opening up eToro’s public trading in New York, the FT reported.

eToro is eyeing the IPO at the valuation of $5 billion, with the trading platform likely to be listed as soon as Q2 of 2025.

While eToro’s largest footprint remains in the United Kingdom, the company wants to tap into the vast potential that’s the US market. The company raised $250 million in a funding round in 2023, with its valuation at $3.5 billion. Ahead of the key milestone, eToro is working with global banks such as Goldman Sachs, UBS and Jefferies as it eyes over $5 billion in the IPO.

eToro, founded in 2007, had increased its business model to include crypto. However, in September 2024, it ceased nearly all of its crypto offerings amid the negative pressure from the SEC.

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• iDEGEN has shifted from a dynamic presale model to a more predictable pricing model.
• The iDEGEN presale is scheduled to end on February 26, with listing expected on February 27.
• Franklin Templeton has noted the significant role AI agents could play within the crypto ecosystem.

In an exciting development for the cryptocurrency community, iDEGEN, the innovative AI-powered meme coin that has become a sensation in the crypto space, has entered its final presale stages with a listing on exchanges set for February 27th, 2025.

This move coincides with Franklin Templeton’s report highlighting the significant role AI agents could play within the crypto ecosystem.

With over $16.7 million raised through a dynamic pricing model, iDEGEN has captured the imagination of investors and meme enthusiasts alike.

iDEGEN presale shifts to a predictable pricing model

iDEGEN stands out in the crowded field of cryptocurrency projects due to its unique proposition: an AI that learns from and interacts with its community without any human moderation. Born with no knowledge or preconceptions, iDEGEN’s evolution is entirely dictated by the tweets it receives on X (formerly Twitter), where it learns, adapts, and then posts hourly.

This approach has not only garnered significant community engagement but also led to impressive presale statistics, with 1,424 million tokens sold to 19,569 holders, achieving returns of 8,991% and garnering 1.44 million impressions.

Adding to the appeal of the community-driven AI growth, iDEGEN’s presale previously employed a dynamic auction system that reflected market demand in real time, adjusting the token’s price every five minutes depending on the number of purchases made.

However, as the presale comes to an end, the pricing model has been refined into a more predictable model. The token price will now increase by 10% in each presale stage through 15 stages, with the final presale price set at $0.038. Currently, at $0.01, the price is set to jump to $0.011 in the next stage.

The pricing models employed by iDEGEN and the community involvement have made iDEGEN not just a token but a living experiment in decentralized AI development.

As iDEGEN prepares for its exchange listing on February 27, the project is not just a testament to the power of community-driven cryptocurrencies but also aligns with broader trends in the crypto space.

Franklin Templeton’s report shows AI could revolutionize crypto

Franklin Templeton’s report draws attention to the broader implications of AI in the crypto ecosystem. According to the report, AI agents are set to reshape industries by integrating with blockchain technologies, enabling new forms of economic interaction and content creation.

The report also highlights the growth potential, as seen in the active development communities and the enthusiasm surrounding projects like Truth Terminal, Virtuals, and ai16z, which Franklin Templeton says show similar patterns of AI integration with blockchain, potentially paving the way for what iDEGEN is attempting to achieve.

The convergence of AI with cryptocurrency, as exemplified by iDEGEN, suggests a future where digital assets could become more autonomous, interactive, and potentially more valuable due to their ability to engage directly with their community. This could lead to novel uses for tokens, beyond mere speculation, into areas like automated marketing, real-time data analysis, and personalized content creation.

With iDEGEN’s presale nearing its end and its impending listing on major exchanges, it’s clear that the project is at the forefront of this AI-crypto fusion, potentially setting a precedent for how AI can be utilized in the decentralized world of blockchain.

As we move into 2025, the implications of such projects will likely be a topic of intense discussion and development within the crypto community.

However, according to the Franklin Templeton report, there are potential challenges ahead, including functionality, market volatility, and regulatory issues which crypto AI projects will have to navigate.

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