Future Finance
Another Credit Bubble Grows: the $5 Billion Crypto-Loan Market
- Too much credit too fast has traders warning of a blow-up
- Interest rate on Bitcoin loan down to 5% from 11% at Genesis
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The laws of finance still apply in cryptocurrency’s parallel universe.
Crypto credit has expanded too quickly and is headed for a blow-up, says a group of former Wall Street traders who are now seeking riches in digital assets. A near $5 billion industry has emerged from nothing just two years ago and the number of loan platforms is rapidly proliferating, according to blockchain data company Graychain Ltd.