Homium Raises $10M as Crypto Markets Face Potential Downturn; Trust Wallet Warns iPhone Users
Summary:
Homium, a home equity line of credit protocol built on the Avalanche blockchain, has raised $10 million in funding. The firm allows homeowners to borrow against their property's value without increasing debt. Meanwhile, 10x Research founder Markus Thielen warns of a possible downturn in stock and crypto markets due to persistent inflation and rising bond yields. In related news, crypto wallet provider Trust Wallet has urged iPhone users to disable iMessage due to possible security risks.
Homium, a novel protocol for home equity line of credit (HELOC) built on the Avalanche blockchain, has secured $10 million in funding from Sorenson Impact Group and Blizzard. Through Homium, homeowners can borrow against their house value without increasing their monthly debt, pledging a fraction of their home's future price as collateral. The protocol also generates a virtual entity for investors that represent the rise in price of a collection of shared homes in Homium. At the start, these tokenization loans were only obtainable in Colorado. Citi, the multinational investment banking corporation, sees this tokenization as the future pivotal application for cryptocurrencies, potentially reaching a worth of $5 trillion by 2030.
Markus Thielen, the initiator of 10x Research, suggests that stock and cryptocurrency markets might be on the verge of a notable relapse. He pinpointed persistent inflation, decreasing rate cuts, and rising bond yields as primary triggers for his pessimistic prediction. Following Bitcoin's 9.3% drop, he commented, "We sold everything last night." Thielen emphasized that cryptos, as risk assets, may be approaching a critical transition phase.
Meanwhile, Trust Wallet warns iPhone holders to switch off iMessage due to possible susceptibility to a zero-day exploit. The crypto wallet provider shared its belief in the likelihood of this exploit, which could permit unauthorized access and control to iPhone devices. Cryptocurrency wallets could be potentially endangered by this security breach. Though Trust Wallet's caution was met with some suspicion from the crypto community, it's important to note that in the recent past, Apple had to release emergency fixes to patch two known iOS zero-day vulnerabilities that led to attacks on iPhones.
The contents of this article do not offer investment advice or recommendations. Investing and trading decisions come with inherent risks, and readers are advised to do their research carefully before making these decisions. This article includes additional reporting by Geraint Price, Sam Bourgi, and Felix Ng.
Published At
4/16/2024 8:24:57 PM
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