When the Venezuela was experiencing hyperineflation, LEDN co-founder Maurisio Di Bartolomo had a hedge to shorten the local currency and shorten it in favor of a more stable US dollar. Today, he is using a similar strategy – this time to hedge the US dollar to borrow against his bitcoin (BTC).
Di Bartolomo was associated with me during the Canada Crypto week at Toronto, where he spoke about the benefits of bitcoin-supported loans and rapid development of collateral BTC borrowings. In our interview, he created a compelling case to pile up the set, even the price of bitcoin has increased.
This week’s Crypto Biz dives in our conversation with LEDN co-founder and covered the latest commercial news from Blockchain World.
A lesson from hyperflation
Prior to Bitcoin, Di Bartolomo’s most successful investment was shortening the bidar with the US dollar, referring to his experience in Venezuela during Hypermination 2010.
He said, “I was borrowing bolivar and buying dollars with them, holding hard dollars and borrowing (status) on weak currency,” he said.
He then established LEDN, a company that allows bitcoin investors to reach the dollar liquidity without bid farewell.
By borrowing against bitcoin, “You are basically doing the same thing, but you are going to have hard money, which is bitcoin, and taking borrowings on the dollar, which is a weak currency,” he said.
Many bitcoins have found it as a winning strategy. According to Galaxy Research, by the end of Q4, LEDN’s debt book value was priced at $ 9.9 billion.
Guatemala’s largest bank integrates “invisible” crypto infrastructure
Banko Industrial, the largest bank in Guatemala, has integrated Crypto Infrastructure Sukupai in its mobile banking app, allowing users to get US dollars more easily.
Sukupe said that this integration is the first time when a major Latin American retail bank has used a crypto-root protocol for its payment services.
Banko Industrial has more than 1,600 service places in Guatemala and has also expanded in neighboring countries.
“The key to adopting blockchain technology is making it invisible to the final-user,” Sukupayi CEO Yonathan Lyakik told CoinTelgraph.
With the technique of Sukupai, Banco Industrial App Users can get dollars from the US for a flat fee of $ 0.99, which is currently paid at the current 6% to 10% less, Lapac said.
Bankers are nervous about Stabecrims, NYU Professor’s claims
According to NYU Professor Austin Campbell, the US banking lobby sees a yield-bearing stabelin as a threat to its business model for its business model, depending on the depositors paying minimum interest and using those funds for high-risk investments.
In the May 21 social media posts, Campbell claimed that he had heard of “panic” on new stabecines offering interest payments of holders and other monetary awards.
He told the Democratic MPs that “banks want you to protect their cartel so that they can spoil your voters.”
Although Campbell did not mention any stabelcoin assets by the name, in February, the coinalagf said that the Securities and Exchange Commission approved the country’s first produce-bearing Stabecoin security by Figure Markets. At the time of its launch, YLDS Stablecoin offered a yield of 3.85%.
PI protocols and spark protocols have also developed interest-bearing tokens.
Strategy continues to stack sets
Bitcoin, with above $ 100,000, Michael Sayler’s business intelligence firm, strategy, has resumed his purchase competition last week by receiving 7,390 BTC for $ 765 million.
The total bitcoin of the latest purchase strategy brings up to 576,230 BTC, which has an untruth benefit of about $ 20 billion.
The announcement took place exactly two days before its previous all-time high of bitcoin, climbing above $ 109,000 for the first time since January. Like other risk assets, bitcoin has benefited from better investor spirit after suspension of tariff enmity between the United States and China.
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