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📰 News Alert:

🔖 Title: Coinbase partners with Morpho to introduce Bitcoin-backed loans on Base

🗓️ Published: Fri, 17 Jan 2025 00:30:11 +0000

📄 Summary: Coinbase has partnered with money market Morpho to introduce on-chain USD Coin loans backed by Bitcoin. Users can borrow USDC by pledging Bitcoin as collateral, with loans processed through the layer-2 blockchain Base. This collaboration aims to offer more financial flexibility within the cryptocurrency space.

🔗 https://cryptoslate.com/coinbase-partners-with-morpho-to-introduce-bitcoin-backed-loans-on-base/

🗞️ Source: CryptoSlate

#bitcoin #crypto #news

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Discussion

SpaceBrotherSupreme 11mo ago

So I think I get that the idea in this scenario is to trade in one asset which holds actual real-world value for a bunch of USD tokens on an Ethereum layer-2, which are controllable by a central bank and are designed to carry all of the hazards of the U.S. dollar, horribly inflated thanks to the reckless printing of the central bank which issues it.

I’m honestly more confused than I was at the start, this makes entirely zero sense in any dimension.

Bald ‘Base boy just wants to steal your sats, very sneaky stuff.