Binance to give $500 million to support the mining industry
The crypto exchange will issue loans for 18-24 months at 5-10% per annum
14.10.2022 - 06:45
299
1 min
0
What’s new? Binance, the largest cryptocurrency exchange by trading volume, has launched a $500 million project to finance the mining industry and digital infrastructure providers. According to the company's blog post, the term of the loan ranges from 18 to 24 months, with interest rates ranging from 5 to 10% per annum.
More about the initiative. The company clarified that the exchange plans to give loans to both public and private organizations, regardless of the jurisdiction in which they are located.
As collateral, Binance is ready to consider any physical goods or digital assets. The company also intends to launch cloud mining products using the power of bitcoin miners.
Earlier, Binance's BNB Chain network completed its 21st quarterly burn of BNB native tokens. 2 065 152,42 BNB worth $574,8 million were destroyed.
On October 10, bitcoin mining difficulty reached a new all-time high of 33,73T. The average hashrate of the network rose to 263,5 EH/s.
Useful material?
Market
Users who have experienced withdrawal problems in the last two days will be eligible to participate
Mar 28, 2024
Market
Last July, a criminal investigation into the exchange was opened by the US authorities
Mar 27, 2024
Market
The unrealized profit from the deal was $8,9 million
Mar 26, 2024
Incidents
The phasing out began on March 25
Mar 25, 2024
Crypto regulations
The new measures must go through additional stages of approval
Mar 25, 2024
Incidents
The popularity of this kind of project launch format has already led to blockchain overload
Mar 20, 2024