Bullish Bets $100 Million on AI-Based Loans Using GPUs as Collateral

cryptonews.ruPublicado em 2026-08-30Última atualização em 2026-08-30

Resumo

Bullish, a NYSE-listed institutional crypto platform and parent company of CoinDesk, has announced a $100 million loan to USD.AI. The funds will be used to lend to businesses developing artificial intelligence (AI) and related infrastructure. In this new lending model, AI companies use their valuable graphics processing units (GPUs) as collateral. Bullish believes the scale of capital involved in this sector is enormous, surpassing that of many traditional credit markets like auto loans and home equity lines of credit (HELOCs). The move reflects Bullish's conviction in tokenizing real-world assets (RWAs) on the blockchain for transparency and institutional adoption. However, the model carries risks, as GPU prices can be volatile and the hardware can quickly become obsolete. The concept will face a crucial stress test if a borrower defaults on their loan.

Two major trends appear to be converging: private lending for AI capital expenditures and the tokenization of real-world assets (RWA). This week, Bullish, an institutional crypto platform listed on the NYSE and the parent company of news outlet Coindesk, announced a $100 million loan facility to USD.AI. The company plans to use these funds to provide loans to businesses involved in artificial intelligence (AI) development and related infrastructure.

Essentially, AI companies are using their extremely valuable computer chips (Graphics Processing Units, GPUs) as collateral. Bullish believes the capital involved in this new form of lending is enormous, noting that it actually surpasses the volumes of many older, more conventional types of credit instruments.

"Bullish is targeting a capital-intensive sector that has quickly become one of the largest in private lending, and its scale surpasses traditional borrowing markets such as auto loans and home equity lines of credit (HELOC)," the company stated.

Bullish Bets on Bringing Real-World Assets onto the Blockchain

Block.one co-founder and CEO Brendan Blumer founded Bullish in Hong Kong in 2020. Following Friday's announcement, the company's shares on the NYSE fell by 2%, but they gained 10.5% over five days and have risen more than 44% over the past month.

Thomas Cowan, Head of Tokenization at Bullish, stated that his company is firmly convinced that real, physical objects should be connected to digital money systems, and this deal reflects that stance.

"Our involvement in the USD.AI project reflects a belief we have held since our first investment in this protocol: reliable, well-structured real-world assets should be on-chain," Cowan noted. "USD.AI's on-chain transparency allowed us to evaluate this mechanism with the same institutional rigor we apply across our platform, and its support is an important step towards bringing tokenized assets to the institutional level."

GPU Collateral Faces a Crucial Stress Test

At the same time, this concept comes with certain risks. GPU prices can fall very rapidly. Furthermore, they quickly become obsolete as newer, more advanced models are released. As of Saturday, August 29, 2026, GPU prices are high, especially for high-memory Nvidia consumer graphics cards, and their cost is increasing again this summer rather than declining. The real test will come if a borrower is unable to repay their loan.

end-content

Perguntas relacionadas

QWhat is the total amount of the loan that Bullish is providing to USD.AI, and what is the intended use of these funds?

ABullish is providing a $100 million loan to USD.AI. The funds are intended to be used for lending to companies developing artificial intelligence (AI) and related infrastructure.

QWhat specific asset is being used as collateral for the loans to AI companies in this deal?

AThe loans are collateralized by the AI companies' highly valuable computer chips, specifically Graphics Processing Units (GPUs).

QAccording to Bullish, how does the scale of this new form of AI lending compare to more traditional lending markets?

ABullish states that the scale of this new AI lending is enormous, exceeding the volumes of many older, more familiar credit instruments like auto loans and Home Equity Lines of Credit (HELOC).

QWho is the founder of Bullish, and what key belief about real-world assets does the company's Head of Tokenization express regarding this transaction?

ABullish was founded by Brendan Blumer, co-founder and CEO of Block.one. The Head of Tokenization, Thomas Cowan, expressed the company's belief that robust, well-structured real-world assets should be on-chain, a conviction reflected in this deal.

QWhat are the two main risks associated with using GPUs as collateral for loans, as mentioned in the article?

AThe two main risks are: 1) GPU prices can drop very quickly, and 2) GPUs rapidly become obsolete as newer, more powerful models are released.

Leituras Relacionadas

Experienced Analyst Claims 'Hidden Bearish Divergence' in Bitcoin!

Crypto analyst Rekt Capital has identified significant technical resistance for Bitcoin around the $80,000 level on the daily chart, alongside a hidden bearish divergence between the price and the Relative Strength Index (RSI). The analyst notes that Bitcoin's price returned to approximately $80,000 after declines in February and June 2026, which both saw the RSI drop to near-oversold levels. However, a key difference emerged in the current scenario compared to the May 2026 rally. While the price has again risen to around $80,000, it has formed a lower peak below the previous high. Conversely, the RSI during this same period has reached a higher peak than before. In technical analysis, this pattern—where price forms lower highs while the RSI forms higher highs—is classified as a hidden bearish divergence. It suggests the current upward momentum may be weakening and not confirmed by price action, potentially signaling a resurgence of selling pressure. Rekt Capital maintains that this negative technical outlook will persist until Bitcoin decisively breaks through the $80,000 resistance zone and establishes a new, higher price peak.

cryptonews.ruHá 38m

Experienced Analyst Claims 'Hidden Bearish Divergence' in Bitcoin!

cryptonews.ruHá 38m

The Peak of Bitcoin's Bull Cycle May Be Driven by Global Demand for ETFs

The peak of Bitcoin's current bull cycle may be driven by global institutional capital and demand for spot Bitcoin ETFs outside the US, according to Ki Young Ju, CEO of CryptoQuant. He suggests that while US products have opened the market to regulated participation, the next phase of growth will come from international markets like South Korea, where spot Bitcoin ETFs are not yet accessible to retail and corporate investors. Ju indicates that peak market saturation may occur when such products become widely recommended even to conservative investors globally. The adoption is extending beyond direct holdings to include tokenized real-world assets (RWA) and stablecoins, which improve liquidity and infrastructure for institutional use. Although US spot Bitcoin ETFs have seen massive inflows, Ju believes global institutionalization, deeper stablecoin liquidity, and RWA channels will define Bitcoin's next adoption stage. The overall potential remains significant as banks and financial institutions worldwide continue to expand their digital asset capabilities.

cryptonews.ruHá 45m

The Peak of Bitcoin's Bull Cycle May Be Driven by Global Demand for ETFs

cryptonews.ruHá 45m

Dormant Bitcoin Wallets Awaken: Over 800 BTC Moved in August

In August 2026, at least 13 long-dormant Bitcoin wallets, inactive for 12 to over 15 years, became active and moved a total of approximately 818 BTC. With Bitcoin's price significantly higher, the collective value of these transactions exceeded $60 million at the time. The most notable transfer involved 212 BTC on August 18 from a wallet dormant for about 14 years, valued at roughly $13.66 million at transfer. On August 22, activity from several old wallets led to the movement of 282.31 BTC, including batches held since 2011. Another transfer on August 29 saw 10 BTC moved after over 15 years of inactivity, worth about $777,000. Smaller transfers ranging from 8.54 to 49.97 BTC occurred between August 1 and 18 from wallets inactive for 12 to 15 years. According to Galaxy Research, realized profits on individual wallets reached millions of dollars. For example, the owner of 40 BTC moved on August 26 after over 14 years of dormancy realized a profit of approximately $3.16 million, with the funds sent to an address linked to Boerse Stuttgart Digital. This activity follows a similar event in March, where a Bitcoin whale moved 2,100 BTC (over $147 million then) after nearly 13.7 years of inactivity.

cryptonews.ruHá 45m

Dormant Bitcoin Wallets Awaken: Over 800 BTC Moved in August

cryptonews.ruHá 45m

ECB's Schnabel says central bank money 'should move to blockchain'

ECB Executive Board member Isabel Schnabel stated that central bank money "must move onto the blockchain." She argued that stablecoins lack the independent ability to scale liquidity during financial stress—a gap only a central bank can fill. Her proposed solution involves tokenization, which she says can make transactions faster, safer, and more programmable, but only if the safest asset (central bank money) is on the same "rails" as other tokenized assets. This marks a notable shift for the Eurosystem, which had previously viewed Distributed Ledger Technology (DLT) mainly as a tool for regulating stablecoins and crypto, not as infrastructure to adopt directly. The first step is Project Pontes, launching in September. It will initially synchronize the ECB’s existing TARGET services with private DLT platforms. Eventually, it aims to enable settlement finality on a Eurosystem-managed DLT platform with smart contract functionality and 24/7 operation. The long-term strategy is Project Appia, tasked with developing the architecture, standards, and legal framework for a genuine European tokenized asset market by 2028. Trials have already processed around €1.6 billion, and since March 2026, the ECB accepts DLT-based assets as collateral. While not directly impacting Bitcoin's price, these developments signal that a major G7 central bank is preparing to settle transactions on-chain, lending legitimacy to the underlying infrastructure of crypto markets. The ECB's move to avoid "disintermediation" by private tokenization shows that debates in central bank boardrooms are now aligning with discussions long followed in the crypto space.

cryptonews.ruHá 47m

ECB's Schnabel says central bank money 'should move to blockchain'

cryptonews.ruHá 47m

Ripple Labs Warns of a New Challenge for Blockchains

Ripple Labs is preparing the XRP Ledger for quantum threats but now emphasizes a broader challenge: ensuring financial infrastructure can adapt simultaneously to quantum computing and artificial intelligence. Senior Director of Engineering Ayo Akinyele states the goal is not merely anticipating a "Q-Day" but building infrastructure capable of preemptively adopting new security mechanisms without network disruption. The shift to post-quantum cryptography involves more than swapping algorithms; it requires flexible infrastructure, improved key management, and clear upgrade paths. Financial systems were not designed with quantum computers in mind, necessitating a rethink of transaction, identity, asset, and data protection. This is underscored by significant investments, such as the $2 billion U.S.-IBM quantum factory initiative and a 2030 U.S. government mandate for post-quantum cryptography adoption. AI introduces distinct risks by driving automation and autonomous economic activity, increasing demand for an always-on, internet-oriented payment infrastructure. AI agents could soon conduct transactions independently, creating new security requirements. Ripple Labs advocates for proactive, orderly preparation rather than a crisis-driven transition, having outlined a four-phase strategy aiming for a full XRP Ledger transition by 2028, now expanded to address both quantum and AI-driven challenges.

cryptonews.ruHá 47m

Ripple Labs Warns of a New Challenge for Blockchains

cryptonews.ruHá 47m

Trading

Spot
活动图片

Categorias popularesright-arrow

Etiquetas Popularesright-arrow