San Francisco-based lender Divine Research issues 30,000 unbacked short-term crypto loans using OpenAI CEO Sam Altman’s World ID platform to verify borrowers. Loans under $1,000 in USDC stablecoin target overseas borrowers, with interest rates of 20-30% and a 40% default rate. Lenders can profit from providing liquidity. JPMorgan considers Bitcoin-backed loans.

3Jane raised $5.2 million and offers uncollateralized credit lines on Ethereum. It requires “verifiable proofs” of assets or income but no collateral. They plan to introduce AI agents for automated lending rules and sell defaulted loans to US debt collectors. Wildcat offers undercollateralized loans to market makers and trading firms.

Crypto lending is gaining traction as institutional players reenter the space. JPMorgan is exploring crypto-backed loans against assets like Bitcoin and Ether. However, the industry faces challenges with major lenders like Celsius and Genesis collapsing in 2022 due to fraud issues. Celsius’s CEO was sentenced to 12 years for fraud, and Genesis settled a $2 billion lawsuit.

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1. Bitcoin hits new record high of $60,000 as investors flock to digital assets. Market cap surpasses $1 trillion for the first time. Experts predict continued growth as mainstream adoption increases.

2. Ethereum surges to all-time high above $2,000, driven by decentralized finance (DeFi) and NFT market boom. Network upgrades and increasing institutional interest fuel the rally.

3. Tesla announces purchase of $1.5 billion worth of Bitcoin, sending price soaring. Elon Musk’s company plans to accept cryptocurrency as payment for products, further legitimizing digital assets.: Divine Issues 30K Crypto Loans Using Sam Altman’s World ID