Share this article
Two Prime Hits Record $827 Million in Q3 Bitcoin-Backed Loans
The lender topped $2.5 billion in total commitments since 2024 as institutional bitcoin adoption has accelerated
Updated Oct 9, 2025, 3:58 p.m. Published Oct 9, 2025, 11:00 a.m.
What to know:
- Two Prime has issued $827 million in bitcoin-backed loans and credit facilities in Q3 2025, reaching $2.55 billion in total since launch.
- Clients include major firms such as CleanSpark, Hut 8, Kindly MD (Nakamoto), Fold.
- Two Prime attributes its growth to competitive rates and catering to institutions seeking yield and risk management.
Two Prime Lending issued record-breaking bitcoin-backed loans of $827 million in Q3 2025, bringing its total committed loan volume to $2.55 billion since launching in March 2024, the firm said on Thursday.
The lending affiliate of investment adviser Two Prime has established itself as one of the largest bitcoin-backed lenders globally, serving institutions such as miners, hedge funds, trading firms, and digital asset treasuries. It received $20 million backing led by bitcoin miner MARA Holdings (MARA) earlier this year.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Two Prime’s lending clients include publicly listed names like CleanSpark (CLSK), Hut 8 (HUT), Kindly MD (NAKA) and Fold (FLD). Two Prime attributes its growth to competitive rates and catering to institutions seeking yield and risk management.
CEO and Co-Founder Alexander S. Blume said the firm’s success reflects rising institutional adoption of bitcoin and the demand for sophisticated lending and derivatives solutions in Thursday's emailed announcement.
“As more institutions — including large corporate treasuries, miners, hedge funds, endowments, pensions funds, and sovereign wealth funds — purchase and hold bitcoin, Two Prime has developed sophisticated lending and derivatives strategies to generate risk-adjusted yield for these institutions."
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Dogecoin, PEPE rocket as much as 25% as 2026 starts with a bang for memecoins
The broader meme coin market is heating up, with CoinGecko's GMCI Meme Index showing a market value of $33.8 billion and a trading volume of $5.9 billion.
What to know:
- Dogecoin and Pepe led a significant meme coin rally, with Dogecoin rising 11% and Pepe surging 17% in a single day.
- The broader meme coin market is heating up, with CoinGecko's GMCI Meme Index showing a market value of $33.8 billion and a trading volume of $5.9 billion.
- Traders are speculating on meme coins as a high-risk, high-reward opportunity amid uneven liquidity and a lack of clear macroeconomic catalysts.
Top Stories
