Solana DeFi project Friktion shuts down its user platform
Friktion is urging its customers to withdraw assets from the protocol, as the front-end shuts down. Go to Source Powered by WPeMatico
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New ‘Celsius token’ may be used to repay creditors: report
It was suggested that the token could be part of a reorganization that would turn it into a publicly traded, U.S. regulated company. Go to Source Powered by WPeMatico
Defi Lending Sector Experiences Major Shake-Up: 71% of Total Value Locked Evaporates in 12 Months
Decentralized finance (defi) has continued to remain deeply ingrained in the cryptocurrency economy as the ecosystem provides users with a non-custodial way to exchange digital assets, lend cryptocurrencies, issue stablecoins, and ways to profit from arbitrage. In the lending sector of defi, a lot has changed during the last 12 months as lending applications like … Read more
Troubled crypto lender Vauld gets extended creditor protection
The company claims that the negotiations with potential crisis managers entered the “advanced stage.” Go to Source Powered by WPeMatico
Nexo sues Cayman Islands financial regulator over VASP license
The crypto lender claimed that the Cayman Islands Monetary Authority had placed “too much weight” on regulators’ enforcement actions in its decision to deny registration. Go to Source Powered by WPeMatico
Hodlnaut creditors reject the restructuring plan, prefer liquidation
Hodlnaut downplayed its exposure to the Terra ecosystem, but an investigation into the embattled crypto lender shows it lost $190 million in the Terra crash. Go to Source Powered by WPeMatico
BlockFi plans to file assets and liabilities for bankruptcy case on Jan. 11
The company claimed that no members of the BlockFi management team had withdrawn any crypto from the platform since October 2022. Go to Source Powered by WPeMatico
Crypto lender Genesis lays off 30% more staff: Report
Genesis announced in August that it planned to cut its then 260-person workforce by 20%, with CEO Michael Moro moving into an advisory role. Go to Source Powered by WPeMatico
Gemini’s Cameron Winklevoss Insists Digital Currency Group Needs to Resolve Liquidity Issues in Open Letter to CEO Barry Silbert
Cameron Winklevoss, co-founder of the cryptocurrency exchange Gemini, published an open letter to Digital Currency Group (DCG) CEO Barry Silbert on Jan. 2, 2022, stating that it had been 47 days since withdrawals from Genesis had been halted. In the letter, Winklevoss claimed that DCG owes $1.675 billion to Genesis. Silbert, however, responded on social … Read more
Bringing community-based solutions to crypto lending can solve trust issues
The crypto lending space is plagued with trust and security concerns, but crypto lending platform BNPL Pay offers an innovative community-based lending solution. Go to Source Powered by WPeMatico
