Gemini fails: ETH auction attracts no investors

First ETH/USD Gemini exchange's auction is dissapointing 
31 July 2017   1482

Gemini exchange's first Ether event in fact draws no investors' interest.

Bitcoin

Is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen

Despite the fact that these are very troubled times for Ethereum as a whole, Gemini exchange has decided to experiment with ETH/USD auctions. These allow institutional investors to purchase large amounts of cryptocurrency with U.S. dollars.

Ethereum

Is an open-source blockchain-based distributed computing platform featuring smart contract functionality, which facilitates online contractual agreements 

The first auction took place last night and attracted very little interest. As reported, only 90 Ethers were sold during the auction. The first Bitcoin auction, in comparison, raised over US$1 million. 

Reddit users, as ever, do not remain silent. According to some of them, the auction volume will not pick up anytime soon.

Ethereum is shit mate, why are you so surprised over this?
 

Tolkabot
Reddit user

By such statement the user tries to argue that with prices falling, there is no reason to buy Ethereum right now until the markets stabilize.

However, this is just the very beginning and whether or not the Ethereum auctions will be successful remains to be seen.

Australian Company to Issues Crypto Backed Loans

In case of default, financial company named Helio may sell cryptocurrency to cover losses
10 December 2018   89

Helio from Melbourne began issuing loans secured by cryptocurrencies, Bitcoin.com reports.

The service allows Helio clients to borrow from 1000 Australian dollars ($ 720) on the security of cryptocurrency assets. At the moment, the company accepts Bitcoin, Ether, Litecoin and Ripple.

Helio client crypto assets are stored in a secure wallet, company representatives say. In case of default, the company may sell cryptocurrency to cover losses.

Helio has a credit license (ACL) issued by the Australian Securities and Investments Commission (ASIC). As stated by the company's founder, John O’Shy, Helio was the first licensed organization in Australia to launch this service. According to him, the country has a developed cryptocurrency market, however, suppliers who want to provide loans secured by digital assets are not enough.

In June, the Japanese corporation Abic Corporation began to issue loans secured with Bitcoin