Aada Finance Launches The First Lending and Borrowing App on Cardano Mainnet

Aada Finance, a crypto assets lending platform, announces the imminent launch of the Aada Finance V1 lending and borrowing protocol on Cardano mainnet. The release is scheduled for the 13th of September, making Aada V1 the first lending and borrowing protocol to launch on Cardano mainnet.   Aada V1 leverages the first-mover advantage After months of public testnet, Aada Finance is finally ready to deploy its eagerly-anticipated app. The release brings lending and borrowing to Cardano, introducing the DeFi primitives to…

Celsius Debts Far More Than Earlier Reported, Nears $3B

According to a coin report from Sunday, crypto lending platform Celsius is in debt to the tune of $2.85 billion, contrary to its previous reports. The recent reveal could spell greater trouble for the bankrupt firm seeing as their chapter 11 filing had claimed a different figure. Contrasting Deficit Balances Celsius was one of several platforms that crumbled in the wake of the Terra crash. The company also felt the pressure from the ongoing crypto slump and filed for bankruptcy…

Celsius Network Seeks to Retain Former CFO as an Advisor

Bankrupt crypto lending platform Celsius Network has filed a motion to retain its former CFO, Rod Bolger, as an advisor. The company filed the motion on July 25, looking to keep Bolger for at least six weeks. Bolger would advise on the company as it goes through bankruptcy proceedings. Bolger tendered his resignation on June 30, just over two weeks after Celsius halted withdrawals. Celsius required him to give eight weeks' notice, which he did. Effectively, this means Bolger is…

Undercollateralized vs. Collateralized Loans in DeFi

The debate on undercollateralized vs. collateralized loans continues as investors look for the best ways to make money in cryptocurrency. Decentralized Finance (DeFi) has taken the crypto industry by storm in 2020. Since then, the sector has spurred numerous lending tools that blew the doors wide open to cryptocurrencies for everyone. Suddenly, newbie and expert investors could access crypto funds with minimum investment. Today, loans in DeFi are accessible to anyone willing to borrow or lend. They only need to…

A Guide to Collateralized Loans in DeFi

Hodling is the favorite sport of long-term crypto investors. However, keeping your assets in a crypto wallet for years can have negative consequences. Firstly, unless their value increases, you do not accrue any profits. Secondly, it limits market liquidity and, therefore, hinders its growth. Fortunately, you can help solve both problems with collateralized loans. This short guide to crypto lending discusses how collateralized loans work in decentralized finance. Read on to discover how to use this DeFi tool in your…

Coinbase Accuses the SEC of ‘Using Intimidation Tactics’

Earlier today, Pro-XRP Attorney James Filan tweeted that the SEC "will stop at nothing" to have authority over the crypto space. In the tweet, he revealed that Coinbase believes the SEC is unlawfully stalling the launch of the exchange’s crypto lending program. More crypto enthusiasts have made their stance against the SEC’s ‘intimidation tactics.’   Coinbase's chief legal officer, Paul Grewal, wrote in a blog post that the regulatory agency threatened to sue the company if it launched the feature. Subsequently,…

Brian Armstrong Bashes The SEC for Not Explaining How Crypto Lending Falls Under Securities

Earlier today, Coinbase CEO Brian Armstrong expressed his disappointment on how the SEC handled the trading platform's request to launch a crypto lending feature. The CEO is surprised how the financial watchdog claims the element is a security feature without any explanation.  Furthermore, Mr. Armstrong feels the SEC is blocking Coinbase from lending while other platforms have practiced it for years. Is the SEC Biased or Confused? CEO Armstrong tweeted out his opinions, suggesting that the SEC is somewhat confused. He explained…

A Guide to Celsius Network – Crypto Lending on Your Terms

If you are completely and utterly new to cryptocurrencies, you don't have to engage in risky financial operations. On the contrary, you can put all your newly-bought assets in a wallet, sit back and watch it pay you back. This simple but effective way of increasing your crypto portfolio passively is possible with Celsius Network. This platform allows you to earn interest by lending a fraction of your holdings to them. It's a bit like traditional banking. Only here, you…

Comparison of Crypto Lending and Bank Loans; Which One’s Better?

Banks have for years been in the financial industry and are considered the backbone of the financial world. Banking networks have been providing a vast array of services, including lending, saving, and borrowing. However, this guide will focus more on the lending part of banking systems. Lending involves allowing others to get money but sign an agreement of future payment of the lent sum. The interactions between the parties involved in a lending contract and the interest rates involved will…

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