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Crypto

Bitcoin-backed loans let borrowers raise cash without selling, with rates of 5.8 to 14.18 percent

The market for loans backed by bitcoin, which lets holders borrow cash or stablecoins without selling, is recovering after the 2022 collapse and expanding into mainstream finance. Centralised crypto lending has more than tripled from its late-2023 low, while risks from collateral liquidations and asset management remain key variables. Loan terms hinge on loan-to-value ratios and collateral custody structures. Posted interest rates range from 5.8 percent to 14.18 percent, with additional fees and technical risks to consider.

Crypto

Binance to distribute 600,000 XRP to RLUSD holders, offering up to 1.3 times rewards

Binance will run a rewards program for holders of Ripple’s stablecoin RLUSD, distributing a total of 600,000 XRP. The program runs from Oct. 23 to Nov. 20, with rewards paid through weekly airdrops and the first payout scheduled for Oct. 30. Participants must hold at least 0.01 RLUSD in an eligible account. Reward amounts depend on average RLUSD balances and an APR set by Binance, with multipliers of up to 1.3 times available.

Industry

SpaceX to delay removal of unpermitted xAI gas turbines, operate until July 2027

SpaceX says it will remove by July 2027 unpermitted gas turbines it is operating to supply power to xAI’s Colossus data centre near Memphis and transition to a 1.2-gigawatt permanent natural gas power plant. The turbines have drawn allegations of environmental violations and lawsuits filed by the NAACP and the Southern Environmental Law Center. SpaceX says the trailer-mounted units are not subject to permits, but federal rules assess permits based on scale and use.