Crypto Trends: Loans, Losses, and Innovation
In the first half of 2024, crypto lender Ledn issued $1.16 billion in loans, driven by clients utilizing digital asset-backed loans for tax benefits. The resurgence in the crypto lending sector is attributed to spot bitcoin ETFs and creditors reclaiming assets from bankrupt firms.
Meanwhile, Bitcoin mining company Riot Platforms faced an $84.4 million loss in the second quarter due to soaring costs, including an increase in expenses and reduced Bitcoin rewards. Representative Ro Khanna emphasized the importance of Democrats embracing innovation, advocating for a bipartisan future for Bitcoin and the transformation of the global financial landscape, despite political controversies surrounding the cryptocurrency.
The press radar on this topic:
Bitcoin Miner Riot Platforms' Second-Quarter Loss Widens to $84.4M as Costs Surge Democrats Need to Be the Party of 'Innovation': Rep. Ro Khanna
Crypto Lender Ledn Handed Out $1.16B Worth of Loans in First Half of 2024 Democrats Need to Be the Party of 'Innovation': Rep. Ro Khanna
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