Crypto Lenders Advertise Tax Free Benefits

Crypto lenders like BlockFi and Genesis Capital have been pushing the tax free perk in a bid to get more borrowers; since taxes are not levied until assets are sold borrowers are putting up their bitcoin as collateral to gain access to cash; this perk has help some crypto lenders see big jumps in volume over the last year; the biggest risk is still price volatility with cryptocurrency as there have been significant fluctuations over the last few years; It’s a way to remain invested and not create a taxable event and get access to liquidity,” said former Wall Street trader Edgar Fernandez to American Banker. Source.

Todd is the Chief Product Officer of LendIt Fintech.

He is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists.

He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences.

He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.

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