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Yahoo
13 hours ago
- Business
- Yahoo
Strike CEO says proof of reserves lending is 'gonna change the world'
During a May 13, 2025 podcast with Natalie Brunell, Strike CEO Jack Mallers introduced the company's new Bitcoin-backed loan product. Strike, Arch, and Nexo are among the companies now offering Bitcoin-backed loans with nearly instant approval. Secured by Bitcoin holdings, these loans reduce lender risk and give borrowers access to cash without a credit check or extensive personal disclosures. This type of lending appeals to Bitcoin holders who are hesitant to sell because they believe in its long-term value or want to avoid triggering a taxable event. Borrowers can use the funds for a variety of purposes, including a home purchase, medical expenses, starting a business, or even acquiring more Bitcoin. It's especially attractive to those who want to keep exposure to Bitcoin while unlocking liquidity. It functions similarly to a home equity loan, in which holders borrow against the value of their Bitcoin without selling it. To get started, users deposit their Bitcoin with the platform or a trusted third-party custodian. Once approved, funds are typically available within minutes and can be used however the borrower chooses. Strike and its competitors partner with capital providers to fund loans, ensuring smooth access to cash backed by digital assets. The loan amount is based on the value of the Bitcoin provided as collateral. Most platforms start with a loan-to-value (LTV) ratio of around 50%, meaning a borrower with $200,000 in Bitcoin could access up to $100,000 in cash. Some lenders offer loans as small as $1,000. Others have no maximum cap, making this an appealing option for both individuals and corporate borrowers. Credit cards typically come with adjustable APRs, fewer flexible terms and limits. Bitcoin-backed lenders offer fixed APRs on 12- to 24-month terms, allowing for predictable repayment plans. As the market matures, borrowers can expect longer terms and lower interest rates. By borrowing against their holdings, users can quickly unlock cash while retaining growth potential, which has historically exceeded the loan's APR. Collateralized Bitcoin lending offers a compelling alternative to traditional credit products. Strike and similar platforms allow Bitcoin holders to unlock liquidity without selling and sacrificing long-term gains. Strike CEO says proof of reserves lending is 'gonna change the world' first appeared on TheStreet on May 29, 2025 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Time of India
2 days ago
- Automotive
- Time of India
Sales of hydrogen vehicle slump in January-April in South Korea
South Korea's hydrogen fuel cell electric vehicle (FCEV) sector is facing a sharp downturn this year, with both domestic sales and exports falling significantly amid a lack of demand, industry data showed on Wednesday. According to the Korea Automobile and Mobility Association (KAMA), only 18 hydrogen vehicles, including both passenger and commercial models, were exported from January to April, down 70 percent from 60 units a year ago. Domestic sales came to 965 units over the cited period, raising concerns that the annual tally may dip to the lowest in years, reports Yonhap news agency. Hyundai Motor Co., which had led the global hydrogen vehicle market with models like the Nexo and the Xcient commercial truck, is losing momentum due to limited model availability and a lack of hydrogen infrastructure. Exports peaked at 1,121 units in 2021 following the launch of the Nexo in 2018 but have since declined. Domestic sales also fell from a high of 10,328 units in 2022 to 4,707 in 2023 and 3,787 last year. Despite weakened sales, experts say hydrogen vehicles remain a key future mobility technology and call for stronger government support. "The global hydrogen car market is still small but holds great potential," said Kim Pil-soo, professor of automotive engineering at Daelim University. "It should be viewed as a next-generation investment and supported through a broader hydrogen value chain strategy." Meanwhile, major car manufacturers operating in South Korea, including Hyundai Motor, Kia and Volkswagen, are offering or plan to offer a free safety inspection for all electric vehicle (EV) models as part of enhanced safety measures following concerns about EV fires, the transportation ministry said. The industry-wide service, involving all 14 carmakers operating in the country, came in response to a major fire that broke out from a Mercedes-Benz EV last year, according to the Ministry of Land, Infrastructure and Transport. Hyundai, Kia, Volkswagen-Audi and Jaguar Land Rover are providing free inspections throughout the year. Stellantis began inspections in April, while KG Mobility Corp. and Renault Korea Motors will start this month and continue through the year-end. Porsche and Polestar are scheduled to begin the service in June. GM Korea, Tesla and BMW will join in July, followed by Mercedes-Benz and Volvo in August. The ministry said the inspection covers key safety components, including the condition of the high-voltage battery and its cooling system. Technicians will also check for external damage, such as impact to the battery's underside, and make repairs if abnormalities are found. Vehicles with older versions of the battery management system will receive a software update to improve battery monitoring. The service will also include a recall check to ensure all necessary safety actions are taken.
Crypto Insight
6 days ago
- Business
- Crypto Insight
US Bitcoin ETFs near record month after $1.5B inflows in 2 days
Spot Bitcoin exchange-traded funds (ETFs) in the United States are heading for a record-breaking month, helping push Bitcoin to new all-time highs amid rising institutional demand. The US-listed spot Bitcoin ETFs recorded more than $1.5 billion in combined inflows over a two-day period, with $608 million on May 21 and $934 million on May 22, according to data from Sosovalue. A repeat performance of the past two days' inflows would see monthly inflows surge to $6.68 billion, surpassing the monthly record of $6.49 billion from November 2024. ETF inflows helped Bitcoin rise to a new all-time high of $112,000 on May 22 before retracing to above $110,700 on May 23, up over 19% in the past week, TradingView data shows. The 'robust' ETF inflows and Bitcoin's rise to new all-time highs signal growing institutional demand and rising realized profits 'without increased sell pressure,' Nexo dispatch editor Stella Zlatareva told Cointelegraph. 'Institutional inflows, corporate balance sheet moves, and macro dislocation converge into a clear message: Bitcoin is no longer the alternative — it's becoming the benchmark,' she added. Recent surges in ETF demand coincided with $1 billion worth of Bitcoin being withdrawn from Coinbase on May 9 — a move analysts view as a signal of increasing institutional appetite. Institutional inflows to push Bitcoin to $200,000 in 2025 The 'structural' inflows from institutions may help Bitcoin surpass the $200,000 'base case' before the end of 2025, according to Bitwise's head of European research, André Dragosch. 'So the base case is $200,000, conditional on the US government not stepping in. If they step in, it will move closer toward $500,000,' Dragosch told Cointelegraph, referring to the US government's proposition to make direct Bitcoin acquisitions through 'budget-neutral' strategies. Bitwise's 'in-house prediction' for 2029 is a $1 million Bitcoin price target, as Bitcoin's market cap will surpass the market capitalization of gold, as the leading safe-haven asset, Dragosch explained. However, gold's $22.3 trillion market capitalization is still over 10 times larger than Bitcoin's $2.2 trillion, which makes BTC the world's fifth-largest asset, according to CompaniesMarketCap data. Source:
Observer
22-05-2025
- Business
- Observer
Bitcoin surges to all-time peak as crypto sentiment improves
LONDON/NEW YORK: Bitcoin rose to its highest level on record on Wednesday, eclipsing the previous high from January, as risk sentiment continues to improve after last month's tariff-induced selloff. The world's largest cryptocurrency touched a high of $109,760.08, and was last up 1.1% at $108,117. Its ascent was driven by a combination of factors including easing trade tension between the United States and China and Moody's downgrade of US sovereign debt which has prompted investors to seek alternative investment sources to the dollar. "Now that January's high has been surpassed – and the 50 percent upside from April's lows has been achieved – bitcoin enters blue sky territory with tailwinds in the form of institutional momentum and a favorable US regulatory environment," Antoni Trenchev, co-founder of digital asset trading platform Nexo, said in an emailed comment. Bitcoin at times trades in a similar fashion to tech stocks and other assets that rise in value when investor sentiment is high. The tech-heavy Nasdaq is up 30% from its early April low. That has also coincided with continued weakness in the dollar, a further boost for bitcoin's exchange rate against the US currency. Crypto market participants often point to increased involvement from traditional financial firms as reasons for its gains. This week they have referenced JPMorgan CEO Jamie Dimon, a longtime crypto skeptic, who said the bank will let clients buy bitcoin. Earlier this month, crypto exchange Coinbase was added to the S&P 500 index. Coinbase said on Monday the US Department of Justice has opened a probe into a recent data breach at the company. "We're still in year four of the bitcoin price cycle – the year after the bitcoin halving when miner rewards are slashed in half – which historically means its best days are still ahead of it and – while macro uncertainty and the threat of further volatility remains, a target of $150,000 in 2025 is still very much on the cards," Trenchev said. Meanwhile, ether, the second-largest cryptocurrency, surprisingly did not rise in tandem with bitcoin. It was last down 0.5% at $2,513.— Reuters
IOL News
22-05-2025
- Business
- IOL News
‘Blue Sky' moment as Bitcoin surges to record high
Bitcoin has surged to an all-time high on optimism about upcoming legislation. Image: IOL Bitcoin surged to a new all-time high of $111,534 (R2,01 million) on Thursday as US debt concerns and legislative uncertainty around President Donald Trump's tax bill weighed on traditional equity markets. According to AFP, the world's most popular cryptocurrency is riding on a wave of optimism over anticipated cryptocurrency legislation in the US, which could provide clarity for the sector. Bitcoin's previous high was around $109,000 (R1.44 million), on March 11, 2005. However, uncertainty over Trump's 'Liberation Day' tariffs weighed on financial markets through early April, until the US President announced a 90-day pause on reciprocal tariffs on April 9. Bitcoin broke through the $100,000 barrier once again on May 8 and has displayed solid growth throughout the month. "Now that January's high has been surpassed - and the 50 percent upside from April's lows has been achieved - bitcoin enters blue sky territory with tailwinds in the form of institutional momentum and a favorable US regulatory environment," Antoni Trenchev, co-founder of digital asset trading platform Nexo, told Reuters. "We're still in year four of the bitcoin price cycle - the year after the bitcoin halving when miner rewards are slashed in half - which historically means its best days are still ahead of it and - while macro uncertainty and the threat of further volatility remains, a target of $150,000 in 2025 is still very much on the cards," Trenchev added. Bitcoin's rally, which has also benefited other cryptocurrencies, has triggered substantial institutional interest, with Bitcoin Exchange-Traded Funds (ETFs) seeing more than $607 million (R10.9 billion) worth of inflows following the new price peak. This institutional adoption shows growing confidence in Bitcoin as a legitimate asset class among professional investors, says Luno's country manager for South Africa, Christo de Wit. "This decoupling from traditional equities is particularly noteworthy," De Wit said. "For South African investors, this development underscores the growing importance of cryptocurrency as a potential portfolio diversification tool, particularly as global economic conditions continue to evolve." Get your news on the go, click here to join the IOL News WhatsApp channel IOL
