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Crypto
Bitcoin slides again to $78,000 range on Binance, Google fears
Cryptocurrencies slid broadly on suspicion of a Binance security incident, with bitcoin trading at $78,906, down 2.81 percent on the day, Coin360 data showed. Ethereum fell 3.72 percent to $2,268 and XRP dropped 6.29 percent to $1.24. Funds were said to have moved from a Binance hot wallet, and Binance said user funds were safe while not confirming a hack. Nasdaq fell after Alphabet slid about 12 percent.
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
Samsung to offer USDC transfers in Samsung Wallet for U.S. Galaxy users, supporting Sui and Solana
Samsung Electronics will offer U.S. Galaxy users a USDC stablecoin transfer service in Samsung Wallet from late October, supporting the Solana and Sui blockchain networks. USDC is the first stablecoin supported by Samsung Wallet. Samsung will not charge fees to send USDC to overseas crypto wallets, though receiving wallets or exchanges may. Bastion will handle overseas remittances and has designated Coinbase as a sub-custodian, with USDC stored in Coinbase Prime Vault.
