Holpop News

America’s largest cryptocurrency exchange, Coinbase, has taken its first bitcoin-backed loan from Goldman Sachs.
“Coinbase and Goldman’s work is the first step toward recognizing cryptocurrency as collateral that deepens the bridge between the fiat and cryptocurrency economies,” said Coinbase Institutional head Brett Tapol.
The dollar value of the loan was not disclosed, but the loan was secured by a portion of Coinbase’s total assets of 4,487 BTC, which is about $170 million to date.
The loan requires Coinbase to replenish its bitcoin collateral should the price of BTC fall.