Coinbase Extends $100M Bitcoin-Backed Credit Facility to Riot Platforms

Riot Platforms, a leading Bitcoin mining company, has secured a $100 million credit facility backed by its Bitcoin reserves through Coinbase Credit. This strategic financial arrangement highlights growing institutional confidence in Bitcoin as collateral and provides Riot with flexible capital to fuel its expansion plans.

Riot Platforms Secures $100M Bitcoin-Backed Credit Facility from Coinbase

Riot Platforms, a prominent Bitcoin mining firm, has unlocked a $100 million credit facility backed by its Bitcoin reserves. The deal with Coinbase Credit provides flexible financing at a 7.75% annual interest rate, maturing in 364 days. Funds will be drawn in tranches over two-month periods to support operational expansion and corporate initiatives.

The arrangement underscores institutional confidence in Bitcoin-collateralized lending while allowing Riot to maintain equity control. This strategic move follows growing adoption of crypto-native financing structures among public mining companies.

Winklevoss Criticizes Oregon AG Over XRP Securities Classification in Coinbase Lawsuit

Tyler Winklevoss, co-founder of Gemini, has publicly rebuked Oregon Attorney General Dan Rayfield for labeling XRP as an unregistered security in a lawsuit against Coinbase. The legal action targets Coinbase’s alleged offering of 31 unregistered securities, including Ripple’s XRP, under state law.

Rayfield’s suit underscores a growing tension between state regulators and crypto platforms, framed as a necessary response to perceived federal inaction during the Trump administration. "States must fill the enforcement vacuum being left by federal regulators," the Oregon DOJ stated, positioning the case as part of a broader regulatory push.

The move highlights the persistent ambiguity around crypto asset classification, with XRP remaining a flashpoint despite its partial legal victory against the SEC last year. market participants now watch for ripple effects across exchanges like Coinbase, which continues to list the token.