Bitcoin miner MARA Holdings has disclosed in its latest quarterly SEC filing that it pledged 18,750 BTC to secure two bitcoin-collateralized loans totaling $750 million. Coinbase Credit provided a facility that refinances an existing $150 million credit line and adds $300 million in new funding, while Two Prime Lending supplied another $300 million. Both loans have been fully drawn, with a combined financing cost of about 7.56% and a maturity around August 2028. The pledged BTC was worth approximately $1.2 billion at the time of the transaction. If Bitcoin's price falls and pushes the collateral ratio below the agreed threshold, MARA could face margin calls or risk liquidation of the BTC. Proceeds are earmarked for general corporate purposes and to support MARA's acquisition of Long Ridge Energy & Power. The deal has an enterprise value of about $1.5 billion. Long Ridge owns a natural gas power plant in Ohio with an estimated capacity of 505 MW and more than 1,600 acres of industrial land, which MARA plans to develop into a hub for Bitcoin mining, AI, and high-performance computing.

A complete guide to DeFi: from smart contracts and stablecoins to DEXs and DAOs. Learn the building blocks, practical use cases—lending, swapping, liquidity provision—and major risks like smart contract exploits and liquidation.

Ethereum has slipped below $2,000, putting focus on the $1,800-$1,750 support zone as elevated leverage, crowded longs, and persistent U.S. spot ETF outflows keep downside pressure in place.

Coinbase teams up with Fannie Mae-approved lender Better to let homebuyers pledge Bitcoin or USDC as down payment collateral, avoiding taxable sales. The conforming loans are backed by Fannie Mae and free of margin calls.

Coinbase partners with Morpho to offer ETH-backed loans up to $1M USDC on Base network. Users borrow without selling ETH, avoiding taxes and maintaining upside. Liquidation risks remain. This marks a milestone for institutional DeFi lending and could accelerate mainstream crypto adoption.

On-chain analytics platform Lookonchain reports that 343,075 ETH in DeFi protocols are at risk of liquidation, worth roughly $547 million. The data shows liquidation triggers at several price levels, with the largest batch at $1,361.73.