• BlockFi, a bankrupt crypto-lending firm, is selling $160 million in loans backed by 68,000 Bitcoin mining equipment.
• The process of selling off the loans began last year and the deadline for those bidding to submit loan offers is 24 January.
• The sale of the debt is all that the current BlockFi administrators can salvage for these assets, after exhausting all other possibilities.

BlockFi, a crypto-lending firm, is attempting to liquidate $160 million worth of loans backed by 68,000 Bitcoin mining equipment. The effort to sell off the loans is most likely a result of its attempts to pay off its creditors after declaring Chapter 11 bankruptcy in November last year.

The process of selling off the loans began last year and those bidding to purchase them have until 24 January to submit loan offers. If the mining equipment used as collateral is worth less than the loan value, then the loans are no longer worth their paper value; in this case, those bidding on the debts are most likely debt collection agencies looking to buy pennies on the dollar.

At the time of its bankruptcy, BlockFi sold $239 million of its own cryptocurrency assets to cover bankruptcy expenses and warned that approximately 70% of its employees would be laid off. The sale of the debt is all that the current BlockFi administrators can salvage for these assets, after exhausting all other possibilities.

The bankruptcy of BlockFi has been blamed on its significant exposure to the now-defunct crypto exchange FTX. The company had over 100,000 creditors per its bankruptcy filing in November 2022. The liquidation of BlockFi’s loans is an attempt to pay off those creditors and stabilize the company’s financial situation.

The bankrupt crypto lending firm is hoping to get the highest possible return for its loans. Those interested in purchasing BlockFi’s loans have until 24 January to submit loan offers. The sale of the debt is all that the current BlockFi administrators can salvage for these assets, after exhausting all other possibilities.

• MakerDAO recently proposed to onboard $100 million worth of USDC into a YearnFinance on-chain vault, giving MakerDAO an estimated yield of 2% annually.
• Stablecoins make up 70.7% of the overall number of assets being held by MakerDAO, with Ethereum making up 15% and real-world assets making up 12%.
• The number of unique users using the MakerDAO protocol declined by 23.16% over the last month, and the percentage of MKR being held by large addresses has declined.

MakerDAO, the leading decentralized finance (DeFi) platform, recently announced a proposal to onboard $100 million worth of USDC into a YearnFinance on-chain vault. This move would give MakerDAO an estimated yield of 2% annually, and allows MakerDAO to take advantage of the stability of USDC and the risk-adjusted strategies of Yearn Vault.

Looking at the current asset distribution of MakerDAO, stablecoins make up 70.7% of the overall number of assets. Ethereum (ETH) makes up 15%, and real-world assets (RWA) make up 12%. While RWA makes up a relatively small percentage of the overall assets, they have been a significant contributor to the overall revenue generated by MakerDAO. During press time, RWA was responsible for 56.9% of the overall revenue generated by MakerDAO, and the asset class has helped MakerDAO grow its revenue by 3.09% over the last month.

Unfortunately, despite the positive impact of RWA on MakerDAO’s revenue, the number of unique users using the MakerDAO protocol declined by 23.16% over the last month. This decline in interest from users appears to have also impacted the state of the MKR token. According to data provided by Santiment, the percentage of MKR being held by large addresses declined, suggesting that whales may be losing interest in the token.

In order to combat this issue, MakerDAO is exploring new ways to attract users. The proposed $100 million USDC move is part of this effort, as it could potentially generate more revenue for MakerDAO and incentivize users to participate in the platform. With that said, it remains to be seen if this approach will be successful in the long run.

• ChatGPT is an AI chatbot that can be used to write poems, make jokes, and write cover letters.
• The bot is not capable of generating financial advice, such as price predictions, or performing web searches.
• However, ChatGPT is able to provide snippets of Pine Script code to help traders with technical analysis on TradingView.

The internet was taken by storm by the chatbot ChatGPT in December 2022. This unique and innovative AI chatbot has been a game-changer, completely revolutionizing the way people communicate online. It can be used to write poems, make jokes, and write cover letters, and has even been prevalently used in academia. So much so that ChatGPT got banned from New York City’s public school devices as it could inspire cheating.

Although the bot has capabilities far beyond what most people are used to, there are still some technical limitations that restrict its use. ChatGPT is not capable of generating financial advice, such as price predictions, or performing web searches. Therefore, it cannot provide its users with accurate price predictions for a coin like Shiba Inu. However, ChatGPT is able to provide snippets of Pine Script code to help traders with technical analysis on TradingView.

For the most part, ChatGPT is not a finance expert nor a trading guru, but it can churn out code. Technical analysis on TradingView uses the Pine Script language, which the bot can employ to provide code for traders. The bot is also extremely stubborn- it adamantly refuses to even take a stab at predicting what the price of any crypto asset could be in the future. All the while it does a great job of reminding the user to do their own research before investing and to carefully manage the risks taken.

ChatGPT has revolutionized the way people communicate and interact online. While it has its limitations, it can still be used to enhance ideas, particularly with respect to trading strategies and technical analysis.