Binance Pool Launches $500 Million Fund to Support Bitcoin Miners Through Crypto Winter…

Meanwhile, Mastercard Will Help Banks Offer Bitcoin Trading

For the past four months or so, Bitcoin has traded with rather low volatility in the $19k to $20k range. Although many experts believe Bitcoin’s price may have bottomed in mid-June, crypto winter is still gripping the crypto mining industry.

As a result, Binance Pool is starting a $500 million lending project to assist miners through this “season.” The fund will assist both private and public miners, and will require physical or digital assets to secure the 18-24 month loans, with interest rates between 5 and 10%

As one of the world’s leading crypto mining pools, Binance Pool has a responsibility to help maintain a healthy digital asset ecosystem. In light of current market conditions, Binance Pool is launching a $500million lending project to support crypto miners and digital infrastructure providers,” the company said.

Clearly, Binance believes in the long-term viability of Bitcoin, and is putting a half-billion on the line to support its architecture. But Binance is not alone. The founder of Bitmain, Jihan Wu, is setting up a quarter billion fund to purchase distressed mining companies.

While Bitcoin remains in crypto winter, big money is coming in to support it, likely in the belief that Bitcoin could have a strong rebound. Simply put, big money only comes out to play if it believes big money is to be made.


Mastercard is expected to announce plans to assist banks in offering Bitcoin and other cryptocurrency trading, by handling the regulatory compliance and security side of the transactions: two reasons why many banks have been reluctant to enter the space.

Jorn Lambert, Chief Digital Officer at Mastercard told CNBC, “There’s a lot of consumers out there that are really interested in this, and intrigued by crypto, but would feel a lot more confident if those services were offered by their financial institutions.”

The CDO said that even in this crypto bear market, there is great demand for Bitcoin, saying “It would be shortsighted to think that a little bit of a crypto winter heralds the end of it (bitcoin). We don’t see that.”

According to Bitcoin Magazine, a recent poll showed that 60% of respondents would prefer to get exposure to Bitcoin and other cryptos through their bank.

Lambert said, “It’s hard to believe that the crypto industry will truly go mainstream without embracing the financial industry as we know it.”

It’s expected that Mastercard will launch a pilot program in the first quarter of next year, then will expand its program on a larger scale.

Because even in crypto winter…

Deals are being made!

You can read more about Binance Pool’s $500 million fund, HERE

Read more about Mastercard’s plans regarding Bitcoin, HERE

Or read more about the process and architecture of Bitcoin mining, HERE