Strike CEO Unveils Bitcoin-Backed Loan and $2.1 Billion Credit Facility

Strike CEO Jack Mallers has introduced a new bitcoin-backed loan designed to withstand market volatility, in collaboration with Tether. According to NS3.AI, the initiative includes a $2.1 billion credit facility and a lending proof-of-reserves tool, allowing borrowers to verify that their collateral is securely held in segregated on-chain addresses. Additionally, Mallers expressed support for Tether Investments' proposal to merge Strike with Twenty-One Capital and bitcoin miner Elektron Energy.