Bitcoin Loans

loan commitments to $2.55 billion since launching in 2024. The firm serves clients such as miners, hedge funds, and digital asset treasuries, citing strong institutional appetite for yield and risk-managed crypto lending products. CEO Alexander S. Blume noted that the growth reflects accelerating institutional acceptance of Bitcoin.

Coinbase Crosses $1 Billion in Crypto Loan Originations

Coinbase announced that its Bitcoin-backed lending program surpassed $1 billion in loan originations since starting in January 2025. The company currently allows U.S. retail clients to borrow up to $1 million against their Bitcoin holdings via on-chain lending protocol Morpho, with plans to raise limits to $5 million. Coinbase reports that typical borrowers use the loans for major purchases, debt consolidation, or liquidity needs without selling their Bitcoin.

CleanSpark Secures $100 Million Expansion Loan

Bitcoin mining firm CleanSpark obtained a new $100 million Bitcoin-backed loan from Coinbase Prime to expand both mining and high-performance computing (HPC) operations. The company is using a portion of its 13,000 Bitcoin holdings as collateral and now has raised about $300 million in total BTC-backed financing. Following the announcement, CleanSpark’s stock rose approximately 5%, and executives emphasized the company’s strategy of optimizing Bitcoin reserves to fuel infrastructure growth.

Regulatory Context: Stablecoin and Digital Asset Oversight Expands

Recent policy movements also frame the environment for crypto lending. On October 16, Federal Reserve Governor Michael Barr discussed the establishment of stricter rules under the bipartisan GENIUS Act, which clarifies how stablecoins can be used within regulated lending ecosystems. Additionally, new guidance from the New York Department of Financial Services urges banks to adopt blockchain analytics tools to enhance compliance for digital asset activities.

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