US card debt at $1.29 trillion as Bitcoin loans carry liquidation risk
AI summary
US credit card debt has reached $1.29 trillion, a backdrop against which Bitcoin-backed lending is being marketed as an alternative. Coinbase advertises borrowing from 5.1%, but modeled savings depend on fees and on a Bitcoin pledge that carries liquidation risk. Traders should weigh the headline rate against the collateral and fee structure before treating BTC-backed loans as cheap credit.
Narrative history
-
1H AGOYou’re reading thisUS card debt at $1.29 trillion as Bitcoin loans carry liquidation riskCryptoSlate · Score 35
-
8H AGOBeInCrypto · Score 55 · via Fed Hike, Meet
-
9H AGOBeInCrypto · Score 55 · via card debt, $1.3T
