California Dreaming on Such a Loan's Day!
Aug 13, 2021 by 1-866-HODL-NOW
For the 85th episode of the weekly AMA, Alex and Zach were joined by Tal Bentov, aka The Loan Queen, for a live introduction of the loans in California.
But first the dad jokes:
- Dad joke: Will the infrastructure bill impact the mining business from Celsius? Alex’s answer: “Mind your own business!”
- Dad joke: How can you issue loans if you are not a bank? Alex: “We are pursuing unbanking licenses.”
- Dad joke: "We'll just buy JP Morgan and call it JP Alex." — Alex
And here are the bullet points from this AMA:
- California is open for loans since today!
- APR for Californians is… 0% APR!
- Only one LTV option for now: 25% LTV.
- More LTV options will be offered at a later stage.
- 25 members are now in the loan team.
- $500 minimum loan, no maximum.
- The biggest single loan was $100,000,000.
- Weekly statistics:
- “We are working already on a multi-collateral feature that should be live in a couple of months hopefully and then you’ll be able to take a loan against a few coins at the same time.” – Tal Bentov