When Venezuela experienced a hyperinflation, the LEDN co-founder Mauricio di Bartolomeo held against the collapsing local currency by briefly making it in favor of the more stable US dollar. Today he uses the same strategy – this time against his Bitcoin (BTC) to secure himself against the crumbling US dollar.
DI BARTOLOMEO tied with me in the course of the Canada Crypto Week, where he talked about the benefits of Bitcoin-supported loans and the rapid growth of the secured BTC loan. In our interview, he made himself convincing that he continued to stack Sats, even when the worth of Bitcoin continued to rise.
The crypto-biz is immersed in our conversation with the LEDN co-founder this week and covers the newest business news from the blockchain world.
A lesson from hyperinflation
Before Bitcoin, essentially the most successful investment by Di Bartolomeo with US dollar was the Bolivar and referred to his experience in Venezuela during Hyperinflationary 2010s.
“I leaned Bolivare and purchased dollars with them who held hard dollars and had a loan [position] On the weaker currency, ”he said.
He then founded LEDN to make an organization that permits Bitcoin investors without separating from the BTC.
By borrowing against Bitcoin: “You principally do the identical, but you indeed hold the hard money, the Bitcoin is and tackle a loan [position] On dollars, which is a weaker currency, ”he said.
Many bitcoiners have found that this can be a prize strategy. By the top of the fourth quarter, LEDNS loan book value was rated with 9.9 billion US dollars, in response to the Galaxy Research.
Cintalegraphs Sam Bourgi and Ledns Mauricio di Bartolomeo.
Guatemala's largest bank integrates the “invisible” crypto infrastructure
Banco Industrial, Guatemala's largest bank, has integrated the Sukupay crypto infrastructure into its mobile banking app with which users can receive US dollars more easily.
Sukupay said this integration was the primary time that a big Latin American retail bank used a crypto-native protocol for his or her payment services.
Banco Industrial has greater than 1,600 service locations throughout Guatemala and has also prolonged to neighboring countries.
The “key to the mainstream introduction of blockchain technology makes it invisible to the top user,” Yonathan Lapchik, CEO from Sukupay, told CoinTelegraph.
With the Sukupay technology, Banco Industrial App users from the USA can receive dollars for a flat fee of $ 0.99, which is significantly lower than the standard 6% to 10% that they currently pay, said Lapchik.
Panic Banker in StableCoins, NYU Professor claims
The American banking lobby sees stable coins as a threat to the business model, which depends on deposits, deposits, deposits, the inserters of minimal interest and the usage of these funds for investments with higher risk, in response to the NYU professor Austin Campbell.
In a social media post dated May 21, Campbell claimed that he had heard rumbling from “panic” about recent stable coins that supply interest payments and other money rewards.
He told the democratic legislator that “banks they need them to guard their cartel in order that they’ll proceed to idiot their voters.”
Although Campbell didn’t mention StableCoin assets with names, CoinTelegraph reported in February that the Securities and Exchange Commission approved the country's first stable coin security in response to the illustration of markets. At the time of its introduction, the Ylds Stablecoin offered a yield of three.85%.
The PI protocol and the spark protocol have also developed token.
Strategy continues to stack Sats
With Bitcoin over 100,000 US dollars, the Business Intelligence company from Michael Saylor resumed stroll again last week by acquiring 7,390 BTC for around 765 million US dollars.
The latest purchase brings the complete Bitcoin -Holdings from technique to 576,230 BTC with a profit of around 20 billion US dollars.
The announcement was made just for two days before Bitcoin exceeded the previous all-time high and for the primary time in January over $ 109,000. As with other risk assets, Bitcoin has benefited from an improved investment mood after the tariff hostility between the USA and China.
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