Coinbase Extends $100M Bitcoin-Backed Credit Line to Riot Platforms

Riot Platforms, a leading Bitcoin mining company, has secured a $100 million credit agreement with Coinbase Credit, utilizing its Bitcoin holdings as collateral. This strategic move allows Riot to fund its expansion without diluting shareholder value through new equity issuance. The credit line underscores the growing role of cryptocurrency in corporate financing and highlights Coinbase’s expanding services beyond traditional exchange operations.

Riot Platforms Secures $100M Bitcoin-Backed Credit Line From Coinbase

Riot Platforms, a Bitcoin miner, has secured a $100 million credit agreement with Coinbase’s credit arm. The deal uses Bitcoin as collateral to secure short-term funding for its ongoing expansion. Riot, which currently holds 19,223 BTC worth over $1.8 billion, will draw on the facility over the next two months. This avoids issuing new shares. The loan, issued by Coinbase Credit, comes with a variable interest rate of at least 7.75% annually.

XRP Rallies on Coinbase Futures Debut and ETF Buzz, Yeti Ouro Nears Major Presale Milestone

XRP is experiencing a surge in strength due to the introduction of regulated XRP futures contracts on Coinbase Derivatives. Additionally, there is buzz around a potential ETF. Meanwhile, Yeti Ouro (YETIO) is nearing an important milestone with Stage 4 of its presale launching tomorrow. Investors are eagerly awaiting the price hike associated with this stage.