Coinbase to Offer Bitcoin-Backed Loans to US Customers | Bitcoin News Summary Aug 17, 2020
Coinbase will allow U.S. retail customers to borrow fiat loans against as much as 30% of their bitcoin holdings. One of the largest and most regulated crypto exchanges is capping credit lines at $20,000 per customer and offering an interest rate of 8% for bitcoin-backed loans with terms of one year or less. Yam, a DeFi token, suffered a fatal Code flaw which saw about $750,000 worth of tokens get locked up permanently and irretrievably. The project launched on Tuesday and had already accumulated over half a billion Dollars