Lava secures 10 million USD funding: Lava, a New York-based Bitcoin lending platform, has raised 10 million USD in Series A funding from venture capital firms Khosla Ventures and Founders Fund. This marks a notable expansion in Bitcoin-backed loans, as the company aims to address liquidity issues without asset liquidation.

Leveraging Bitcoin for USD loans: Lava’s approach allows users to borrow USD against their Bitcoin holdings, offering a service crucial amidst the crypto market’s volatility. With HIGH interest rates around 7.5% and a focus on self-custody, Lava targets rebuilding trust within the crypto lending industry.