Mining crypto

Today in Crypto: Robinhood Adds USD Coins to Offerings

Robinhood Markets has added the USD Coin stablecoin to its retail-focused crypto offerings, according to a report from Seeking Alpha on Tuesday.

Users will now be able to send and receive USDC, the second-largest stablecoin by market capitalization, on the Polygon and Ethereum networks. USDC will be the first stablecoin supported by Robinhood.

Meanwhile, Icebreaker Finance has rolled out a loan pool on Maple, which will provide secured debt financing to public and private bitcoin mining and digital asset infrastructure companies, a Maple article said on Tuesday.

The pool will start with a capacity of $300 million and seek to deliver risk-adjusted returns to accredited investors and capital allocators.

This will be the first time that Maple will see real-world assets used as collateral on the platform. It will also be the company’s first step outside of the existing set of market-making borrowers.

Elsewhere, big cryptocurrencies like bitcoin and ether fared somewhat better than the broader stock market on Tuesday, Seeking Alpha wrote.

Stock investors are bracing for more aggressive interest rate hikes by the Federal Reserve. Bitcoin fell 0.4%, while Ether rose 1.2%.

As several central banks consider rate decisions this coming week, GlobalBlock analyst Marcus Sotiriou said it’s likely to be a “very volatile week.”

Finally, MicroStrategy made the smallest purchase of bitcoin in more than two years, Bloomberg wrote on Tuesday.

The company is the largest bitcoin buyer company. This time, the company purchased 301 bitcoins for around $6 million, at an average price of around $19,851, through SEC filings. Bitcoin was selling below $19,000 on Tuesday night.

MicroStrategy and its subsidiaries hold approximately 130,000 bitcoins, acquired at an aggregate purchase price of approximately $3.98 billion, with an average purchase price of approximately $30,639 per token.

For all the PYMNTS crypto coverage, subscribe to the Daily Crypto Newsletter.

New PYMNTS Study: How Consumers Use Digital Banks

A PYMNTS survey of 2,124 US consumers shows that while two-thirds of consumers have used FinTechs for some aspect of banking, only 9.3% call them their primary bank.

We are always looking for partnership opportunities with innovators and disruptors.

Learn more

https://www.pymnts.com/cryptocurrency/2022/crypto-lobby-courting-friends-and-foes-at-the-statehouse-level/partial/