Binance Ecosystem Expands as Pencil Finance Secures $10M for DeFi Student Loans

Pencil Finance, a decentralized lending protocol focused on student loan financing, has successfully secured a $10 million liquidity injection from prominent investors Animoca Brands and Open Campus. This strategic funding will be utilized as collateral for DeFi-powered student loans on its platform, which leverages tokenized loan bundles to bridge global investors with accredited originators. Operating on EDU Chain, a Layer 3 blockchain, Pencil Finance aims to revolutionize the student loan market by integrating decentralized finance (DeFi) solutions. This development highlights the growing intersection of education financing and blockchain technology, further expanding the Binance ecosystem’s influence in the DeFi space. The partnership with Animoca Brands and Open Campus underscores the confidence in Pencil Finance’s innovative approach to addressing the challenges of traditional student loans through blockchain-based solutions.

Pencil Finance Secures $10M in Liquidity from Animoca Brands and Open Campus for DeFi Student Loans

Pencil Finance, a decentralized lending protocol specializing in student loan financing, has received a $10 million liquidity injection from Animoca Brands and Open Campus. The funds will serve as collateral for DeFi-powered student loans on its platform, which tokenizes loan bundles to connect global investors with accredited originators.

The protocol operates on EDU Chain, a Layer 3 blockchain built on Arbitrum Orbit tailored for education-focused applications. EDU Chain’s native token, EDU, trades on major exchanges including Binance and KuCoin, though neither the token nor exchanges were directly involved in this capital deployment.

Movement’s MOVE Token Scandal: Secret Deals and Market Chaos

Movement, the blockchain project behind the MOVE token, faces allegations of deception and insider trading after a financial agreement led to a massive token dump. Contracts reviewed by CoinDesk reveal how 66 million MOVE tokens flooded the market just one day after its December 9 debut, triggering a price collapse.

The deal, allegedly structured to grant disproportionate control to a single entity, resulted in Binance banning the token and exposed infighting within the project. World Liberty Financial, the crypto venture backed by Donald Trump, had endorsed Movement, adding political intrigue to the scandal.

Cooper Scanlon’s involvement remains unclear as investigators examine whether Movement was deliberately misled into signing unfavorable terms. The incident highlights the risks of opaque deal-making in cryptocurrency launches.