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ETHZilla to Tokenize $4.7 Million in Manufactured Home Loans on Ethereum Layer 2

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ETHZilla to Tokenize $4.7 Million in Manufactured Home Loans on Ethereum Layer 2

ETHZilla plans to tokenize the loan portfolio into a cash-flow-generating manufactured home loan token.

ETHZilla has announced its acquisition of a portfolio comprising 95 manufactured and modular home loans valued at approximately $4.7 million, with plans to tokenize these assets on Ethereum Layer 2. This strategic move is aimed at enhancing transparency and accessibility in real estate finance.

The tokenization initiative will be executed through the Liquidity.io ecosystem, with the launch expected in late February or early March.

“Manufactured housing loans offer predictable cash flows and strong underlying collateral, which we believe makes them well suited for tokenization within a regulated, transparent structure,” said McAndrew Rudisill, CEO of ETHZilla.

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ETHZilla’s strategy is designed to meet institutional compliance and reporting standards, crucial for the integration of real-world assets into blockchain systems.

The manufactured housing market is projected to grow significantly, from $45.82 billion in 2024 to $75.1 billion by 2035, driven by affordability and sustainability.

This article was generated with the assistance of AI workflows.

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Crypto World

Bitcoin Drops to $74K as US-Iran Tensions Flare

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Bitcoin Drops to $74K as US-Iran Tensions Flare

Bitcoin erased its weekend gains as it fell below $74,000 on Sunday after the US military seized an Iranian cargo ship, putting pressure on a ceasefire between the two countries. 

Bitcoin (BTC) had soared above $78,300 late Friday on Coinbase, its highest price since early February, but dropped to between $75,000 and $76,000 over the weekend after Iran said it would close vital oil routes in the Strait of Hormuz.

The cryptocurrency then sank sharply late on Sunday to briefly trade below $74,000 after the US military said it opened fire on, and later seized, an Iranian cargo ship it claimed tried to run its blockade of Iranian ports, with Tehran accusing the US of violating an agreed ceasefire. 

The two-week ceasefire between the US and Iran, which had helped boost the markets and temper oil prices, is set to end on Wednesday.

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Bitcoin’s price in US dollars on Coinbase over the last five days has fallen over the weekend amid rising tensions between the US and Iran. Source: TradingView

Tehran has vowed to retaliate over the US military’s seizure of the ship and has rejected a new round of peace talks slated for Monday in Islamabad, Pakistan, due to the US blockade, Iranian state media reported.

Related: Bitcoin eyes $90K as whales absorb 20x daily BTC supply in 30 days

US stock futures sank Sunday night amid rising tensions, with S&P 500 futures dropping 0.8%, Nasdaq-100 futures falling 0.6% and Dow Jones futures declining 0.9%, or about 450 points.

Oil futures also soared amid the hostilities and Iran’s threat to close the Strait of Hormuz, with crude oil futures rising over 4.5% to over $95 a barrel.

The Crypto Fear & Greed index rose by two points to a score of 29 out of 100 on Monday, its highest score since late January, but which still indicated a sentiment of “fear.”

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