NFT News Daily Today TheBitTimes.com

The SEC settled with Nashville-based Linus Financial, Inc. for not registering its crypto lending product, appreciating its cooperative stance and swift corrective measures. The Securities and Exchange Commission (SEC) settled charges against Linus Financial, Inc., stemming from its failure to register offers and sales related to its crypto lending product, the Linus Interest Accounts. The regulator opted against imposing civil penalties, citing Linus Financial’s cooperation and immediate rectification steps. In March 2020, Linus Financial introduced the Linus Interest Accounts in the U.S., allowing investors to exchange U.S. dollars for a promise of interest. These funds were converted into crypto currency assets, with Linus Financial pooling them and overseeing their utilization to generate revenue for both the company and the interest payments for investors. The SEC determined these accounts were marketed and sold as securities, making their offers and sales liable for SE...

Borrowing positions automatically roll their expiry, and can be refinanced should one party unilaterally decide to terminate. On May 1, nonfungible tokens marketplace Blur launched Blend, a peer-to-peer perpetual lending protocol that supports NFT collateral. Developed with venture capital firm Paradigm, developers cite Blend's rationale as a means of "financialization to scale." 4/ Every trillion dollar market relies on financialization to scale. NFTs are no different. Instead of paying $1m for a house, buyers put $100k down and pay the rest through their mortgage. Without this mechanism, almost no one would be able to afford homes. pic.twitter.com/4J96G3pGnJ — Blur (@blur_io) May 1, 2023 Blend has neither oracle dependencies nor expiries, allowing borrowing positions to open indefinitely until terminated. Developers also claim that the protocol would collect zero fees from borrowers and lenders: "Blend matches users who want to borrow against their nonfungi...