Crypto Biz: Coinbase's lending bet, a new advertising policy in line with the mining performance of Google and Marathon

This Week's Crypto Biz Explores Coinbase's Lending Platform, Marathon Digital's Latest Bitcoin Mining Report, Decision of Hana Bank to offer crypto custody and Google's new crypto advertising policy. .

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Crypto giant Coinbase appears to be strategically steering its ship amid continued crypto industry turbulence in 2023. The company recently unveiled its lending platform for institutional investors, aiming to fill the void left behind by major players during the crypto winter of 2022, when companies such as Celsius Network, BlockFi, and Genesis went bankrupt.

The move comes after the company closed its borrowing service for retail customers in May amid a regulatory review. The service allowed certain customers to use crypto as collateral to receive a cash loan. The new lending solution, however, focuses on institutional investors, that is, companies or organizations that invest on behalf of their clients, such as mutual funds and pension plans.

Coinbase's new venture amassed millions in capital within days of its launch, filings with the U.S. Securities and Exchange Commission (SEC) show. Despite headwinds and uncertainty, the service's debut indicates that crypto lending among high-profile investors is still in demand in the United States.

This week, Crypto Biz also explores Marathon Digital's latest Bitcoin mining report, Hana Bank's decision to offer crypto custody, and Google's new policy on crypto ads.

Coinbase launches crypto lending platform for US institutions

Cryptocurrency exchange Coinbase has rolled out a cryptocurrency lending service for institutional investors in the United States, apparently seeking to capitalize on massive failures in the crypto lending market. According to an SEC filing, Coinbase customers have already invested more than $57 million in the lending program since the first sale on August 28. In another headline, Coinbase's recently released Base network hit over 700,000 non-fungible tokens (NFTs) issued. .