Israeli Prime Minister Benjamin Netanyahu’s office has confirmed that a “deal to release the hostages” has been finalized.
Netanyahu had postponed a cabinet vote on the Gaza ceasefire agreement scheduled for Thursday, accusing Hamas of attempting to introduce last-minute changes.
On Friday morning, the prime minister’s office announced that the negotiating team had informed him of the finalized agreements. It stated that the security cabinet would convene later on Friday to ratify the deal, followed by a full government vote. Families of the hostages have been notified.
Israeli media reported that representatives from Israel, Hamas, the United States, and Qatar formally signed the agreement in Doha.
The ceasefire deal, initially announced on Wednesday by mediators from the US and Qatar, was outlined by Qatari Prime Minister Sheikh Mohammed bin Abdul Rahman Al Thani.
He said the agreement would take effect on Sunday, subject to Israeli cabinet approval.
At the time, Netanyahu mentioned that certain details were still under negotiation but expressed gratitude to US President Joe Biden for his role in advancing the deal.
On Thursday, Netanyahu delayed the cabinet vote, accusing Hamas of attempting to “extort last-minute concessions.”
Hamas has affirmed its commitment to the agreement, though the BBC understands it sought to include additional members in the list of Palestinian prisoners to be released under the deal.
While Israeli negotiators have approved the agreement after months of discussions, its implementation depends on approval from the security cabinet and government.
Two hardline right-wing ministers, Itamar Ben Gvir and Bezalel Smotrich, who sit on the security cabinet, have voiced strong opposition to the deal and announced plans to resign in protest. However, they have indicated they will not align with the opposition to topple the government, provided the war resumes after the six-week period marking the end of the first phase of the ceasefire and hostage release.
US Secretary of State Antony Blinken has stated that the ceasefire is expected to commence on Sunday as scheduled, with the initial release of three Israeli hostages.
News of the ceasefire brought relief to many Palestinians and families of Israeli hostages.
However, the conflict in Gaza has continued, with more than 80 Palestinians reportedly killed in Israeli strikes since the deal’s announcement, according to the Hamas-run health ministry.
The Israel Defense Forces and the Israeli Security Agency reported carrying out strikes on 50 targets in Gaza since the agreement was disclosed.
The first six-week phase of the deal would see 33 hostages – including women, children and elderly people – exchanged for Palestinian prisoners in Israeli jails.
Israeli troops would also withdraw to the east, away from densely populated areas of Gaza.
Displaced Palestinians would be able to start returning to their homes and hundreds of aid lorries would be allowed entry to the territory each day.
Negotiations for the second phase – which should see the remaining hostages released, a full Israeli troop withdrawal and a return to “sustainable calm” – would start on the 16th day.
This initiative seeks to balance the long-term benefits of holding crypto assets with the need for immediate financial flexibility.
When users borrow USDC against their Bitcoin, their collateral is automatically converted into Coinbase Wrapped Bitcoin (cbBTC) at a 1:1 ratio and deposited into the Morpho protocol. Launched in September, cbBTC enables customers to utilize their Bitcoin on-chain while remaining within the Coinbase ecosystem as collateral.
Users can borrow up to $100,000 USDC, depending on the value of the Bitcoin they pledge. Interest rates are variable and dynamically adjusted in real-time by Morpho, aligning with market conditions and updated with each block creation on the Base blockchain.
The loan terms are flexible, with no fixed repayment schedule, and users can easily track their loan status through the Coinbase app. However, liquidation occurs if the loan amount, including accrued interest, exceeds a predefined threshold relative to the collateral’s value.
Coinbase highlights the advantages of borrowing against Bitcoin rather than selling it, noting potential tax benefits from deferring capital gains or losses.
This Bitcoin-backed loan service is part of Coinbase’s broader mission to provide customers with “greater control over their financial lives.” By integrating Coinbase’s accessibility with the decentralized and transparent nature of on-chain protocols, the company aims to deliver significantly enhanced financial services.