PANews reported on October 1st that Lava, a Bitcoin-backed lending platform, announced it has closed a $17.5 million Series A extension funding round and launched a new USD yield product. This round was backed by several angel investors, including Peter Jurdjevic of the Qatar Investment Authority and former executives from Visa and Block (formerly Square). The newly launched USD Yield product allows users to provide USD funds to provide liquidity for Bitcoin-collateralized loans on the platform and earn a yield, currently offering an annualized yield (APY) of up to 7.5%. Lava stated that all loans are collateralized solely by Bitcoin, with a collateralization ratio exceeding 200%. Lava's previous Series A funding round was led by Peter Thiel's Founders Fund and Khosla Ventures.PANews reported on October 1st that Lava, a Bitcoin-backed lending platform, announced it has closed a $17.5 million Series A extension funding round and launched a new USD yield product. This round was backed by several angel investors, including Peter Jurdjevic of the Qatar Investment Authority and former executives from Visa and Block (formerly Square). The newly launched USD Yield product allows users to provide USD funds to provide liquidity for Bitcoin-collateralized loans on the platform and earn a yield, currently offering an annualized yield (APY) of up to 7.5%. Lava stated that all loans are collateralized solely by Bitcoin, with a collateralization ratio exceeding 200%. Lava's previous Series A funding round was led by Peter Thiel's Founders Fund and Khosla Ventures.

                                                                               Lawmakers in the US House of Representatives and Senate met with cryptocurrency industry leaders in three separate roundtable events this week.                     Members of the US Congress met with key figures in the cryptocurrency industry to discuss issues and potential laws related to the establishment of a strategic Bitcoin reserve and a market structure.On Tuesday, a group of lawmakers that included Alaska Representative Nick Begich and Ohio Senator Bernie Moreno met with Strategy co-founder Michael Saylor and others in a roundtable event regarding the BITCOIN Act, a bill to establish a strategic Bitcoin (BTC) reserve. The discussion was hosted by the advocacy organization Digital Chamber and its affiliates, the Digital Power Network and Bitcoin Treasury Council.“Legislators and the executives at yesterday’s roundtable agree, there is a need [for] a Strategic Bitcoin Reserve law to ensure its longevity for America’s financial future,” Hailey Miller, director of government affairs and public policy at Digital Power Network, told Cointelegraph. “Most attendees are looking for next steps, which may mean including the SBR within the broader policy frameworks already advancing.“Read more