Binance Launches $500M Fund For BTC Miner Loans – October 14

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $19,359

Bitcoin price touched as high as $19,946 yesterday, in a rally following the volatility on CPI figures. Price has since fallen to yesterday morning’s figures.

Top-20 altcoins are up across the board over the last 24 hours, as Ethereum pushes up 4%, BNB 2% and Polygon gains 5%.

Top Stories for October 14, 2022 πŸ”₯

πŸ‘‰ Binance Launches $500M Fund For BTC Miner Loans

Crypto exchange giant Binance has launched a $500 million fund to provide loans to struggling Bitcoin miners, who need assistance to survive the bear market.

The fund will provide loans for private and publicly-listed mining operations, who will need to provide collateral in the form of physical or digital assets. Loans provided will be 18-24 months in duration, with interest rates of between 5% and 10%.

πŸ‘‰ Stablecoin Company Tether Sells All Commercial Paper Holdings

Stablecoin company Tether has managed to offload all of its commercial paper holdings, replacing them with US Treasury bills to back their USDT token.

Tether has been in the process of attempting to improve the integrity and clarity of its reserves, after drawing criticism and doubt over its opaque commercial paper position.

πŸ‘‰ ZEBEDEE Announces Open-Source Lightning Network Development

Crypto startup ZEBEDEE has announced the launch of a new not-for-profit initiative, focused on contributing open-source development for Bitcoin’s Layer-2 scaling platform, the Lightning Network.

The project has been named “No Big Deal” and already includes “Open Bitcoin Wallet” – a non-custodial Lightning Network wallet that uses a technology called Hosted Channels.