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Binance launches $500M lending project to support crypto miners

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Binance Pool launched a $500 million lending project to support the crypto mining industry. It will provide loans to private blue-chip Bitcoin crypto miners. According to the official blog post from Oct. 14, the Binance Pool will provide access to a $500 million loan fund on several conditions, which include an 18-to-24-month term, 5% to 10% interest rates, and some physical or digital assets as a security. The company will look at a wide range of metrics, including current performance, mining power and security quantity, to define the borrower’s creditworthiness.

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