Coinbase Says First Fannie Mae-Insured Bitcoin-Backed Mortgage Was Funded

Coinbase said a first U.S. mortgage insured by Fannie Mae and backed by Bitcoin has been funded, with the loan originated and serviced by Better. The structure lets qualified borrowers pledge BTC as collateral without selling it, and Coinbase said the rollout is expected to expand nationwide this summer. Coinbase also cited BTC at $62,663.56 on June 5, down 1.2% on the day.