Bitcoin-backed | Crypto

Bitcoin holders are using crypto-backed loans to buy real estate without selling their BTC, avoiding capital gains taxes while staying exposed to upside. Bitcoin holders leverage crypto-backed loans to buy real estate without selling a single sat while sidestepping capital gains taxes. The emerging trend is gaining momentum among early crypto adopters, entrepreneurs, and high-net-worth individuals who are “Bitcoin wealthy” but often don’t meet the traditional criteria for real estate financing, Mauricio Di Bartolomeo, co-founder of Ledn, told Cointelegraph. Bitcoin-backed lending models allow borrowers to leverage their crypto without divesting. Since taking a loan doesn’t typically count as a taxable event, clients can access liquidity while retaining upside exposure. Read more

Coinbase announced a Bitcoin-backed credit card and CFTC-compliant perpetual futures for US customers. The exchange made the revelation during its annual State of Crypto Summit on June 12. Perpetual futures for US traders Max Branzburg, head of consumer and business products, said Coinbase will soon list perpetual futures contracts for domestic users under the Commodity […] The post Coinbase to launch CFTC-cleared perpetual futures trading, Bitcoin-backed credit card for US customers appeared first on CryptoSlate.

Mayor Eric Adams’s push for a Bitcoin-backed municipal bond faces strong opposition from Comptroller Brad Lander, who found the plan "legally dubious and fiscally irresponsible." New York City Comptroller Brad Lander has criticized Mayor Eric Adams’s proposal to issue municipal bonds backed by Bitcoin, warning that such a move would introduce financial risk and undermine investor confidence. In a May 29 statement, Lander said he would not allow the New York City to issue the crypto-tied debt instrument while he is in office. Lander’s office shares responsibility for debt issuance with the Mayor’s Office of Management and Budget. “Cryptocurrencies are not sufficiently stable to finance our City’s infrastructure, affordable housing, or schools,” the comptroller said, adding that the proposal exposes the city ”to new risks and erode bond buyers’ trust.”  Read more

After a year of planning, Cantor Fitzgerald activates crypto lending arm with first Bitcoin-collateralized deals. Wall Street financial firm Cantor Fitzgerald has closed its first Bitcoin lending deal nearly a year after announcing its crypto lending services. According to a May 27 Bloomberg report, Cantor provided Bitcoin-backed loans to FalconX and Maple Finance. FalconX, a digital asset broker, said it secured a facility worth over $100 million as part of a “broader credit framework,” while Maple Finance reportedly closed the first tranche of an agreement with Cantor. The service allows companies holding Bitcoin to borrow funds and use the cryptocurrency as collateral, providing a way to unlock liquidity without selling their BTC holdings. Cantor announced its Bitcoin financing business with an initial capital of $2 billion in July 2024, targeting institutional investors seeking to leverage their Bitcoin. At the time, the company said Anchorage Digital and Copper would serve as custodians and collateral ma...