In today’s briefing:
- Crypto Lending Series #4: The Waste Land of Lending
- GOALS Raise $20m & Karate Combat Raise $18m, Series A Rounds
- TUSD Depegs Amidst Heavy Borrowing
Crypto Lending Series #4: The Waste Land of Lending
- In the latest inning of the crypto credit crisis, real world banks like Silvergate was shuttered making the on-and-off ramp of crypto to fiat more challenging.
- Crypto lenders have already been decimated in the centralised lending space while DeFi lenders seem to trudge along – but are they the bastions of success?
- We analyse what the current landscape means for the crypto lending industry and have a regrettable conclusion.
GOALS Raise $20m & Karate Combat Raise $18m, Series A Rounds
- My prediction is the news cycle in crypto heats up over the next 6 months as bigger and bigger brands start experimenting or building solid propositions using this nascent technology.
Almost every startup in the space I’ve spoken to over the last 6-9 months is looking to raise capital.
And even though deal count as a metric has stabilised and actually seen an increase in Q2 2023, numbers still aren’t as strong.
TUSD Depegs Amidst Heavy Borrowing
- TUSD depegged on a number of exchanges yesterday, hitting a high of $1.20 relative to USDT on Binance.
- Binance has recently been promoting TUSD, making BTC-TUSD the only zero-fee pair on the exchange.
- This quickly made Binance BTC-TUSD one of the highest-volume pairs in all of crypto despite TUSD being relatively unknown amongst stablecoins.
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