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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.

AI & Enterprise

CoreWeave credit fears spread as 68 trillion won debt weighs on AI stocks

Selling pressure is spreading across AI-related stocks as credit risk rises at AI infrastructure firm CoreWeave. Its five-year credit default swap spread topped 1,140 basis points intraday before easing to 1,088, up 33% from a week earlier and 177% from a year ago. CoreWeave has more than $51 billion in debt and financial obligations. Investors are focusing on when cash flow will arrive to support heavy capital spending.

Finance

Hana Securities first in South Korea to issue $300 million foreign currency hybrid capital securities

Hana Securities said on Wednesday it raised $300 million by issuing U.S. dollar-denominated foreign currency hybrid capital securities, the first such deal by a South Korean securities firm. It plans to use the funds for growth businesses including global investment banking, corporate finance and venture capital supply. The 30-year notes carry a call option after five years. More than 120 institutional investors joined bookbuilding, placing $1.7 billion of orders.