Strike debuts 'volatility-proof' bitcoin loans

Sony Bank received conditional approval from the U.S. OCC to create Connectia Trust, a new U.S. national trust bank. The subsidiary is expected to be formed this month with $40 million in capital and would issue and manage a dollar-backed stablecoin once it satisfies the OCC’s remaining conditions. Operations are expected to begin in 2027. Sony Bank has previously said it is exploring the stablecoin for payments across Sony’s digital ecosystem, including games and subscriptions, but the token has not launched yet. Read more →

Binance may be heading for another fight with U.S. law enforcement. According to The Information, the Justice Department circulated an internal memo warning prosecutors to expect less cooperation from Binance in crypto investigations, including fewer informal “courtesy freezes” on accounts and more formal legal process for asset freezes and seizures. Binance denied any change, saying its cooperation with U.S. law enforcement “has not changed and will not change.” The report also said Binance is actively negotiating to formally end the DOJ monitorship established after its 2023 criminal settlement. Read more →

Strike launched a new bitcoin-backed term loan product this week that lets borrowers access dollars without selling their BTC. The main feature? The loans do not trigger margin calls or automatic liquidations just because bitcoin’s price falls, as long as the borrower stays current on required payments. Strike says collateral can still be partially liquidated if a borrower misses an interest or maturity payment and does not fix it within a 10-day grace period. The product is available in select U.S. states. Read more →

📥️ Want to advertise in CoinSnacks? Learn More