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The second week of Sam Bankman-Fried’s criminal trial for fraud concluded with witness testimony from Zac Prince, whose crypto lending firm BlockFi loaned $1.1 billion to Alameda before FTX’s collapse. From Alameda’s bizarre $65 billion “credit line” on FTX customer crypto to $100 million Chinese bribes, SBF gave the orders according
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Michael Egorov, the co-founder of Curve Finance, has completely settled his debt on Aave after depositing 68 million CRV, equivalent to approximately $35 million, to Silo. Egorov withdrew 10.7 million of crvUSD, Curve’s decentralized stablecoin, from the non-custodial lending protocol following his CRV deposit, according to on-chain analytics provider, Lookonchain. After
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After bankruptcies tore apart the crypto lending, the industry is attempting to rebuild in a sustainable and accountable manner. Original Source
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The lenders of the bankrupt cryptocurrency lender Genesis are not satisfied with the latest in-principle settlement agreement with other parties including the Digital Currency Group (DCG).The Ad Hoc Group of Genesis Global Capital (GGC) lenders — represented by lawyers Brian Rosen and Jordan Sazant — on Aug. 29 responded to
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The XRP ruling could impact creditor repayments for holdings of Celsius’ token CEL, given U.S. bankruptcy rules which apply a mandatory downgrade to customer claims relating to securities. The estate has previously judged the token’s worth at $0.20, but it could also fall to zero, Koenig said, while some creditors
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Peer-to-peer (P2P) lending, which links borrowers and investors directly, has become a well-liked substitute for traditional banking. P2P lending networks enable decentralized lending, in which people can borrow money from other people or institutions directly without the use of intermediaries, such as banks. Both borrowers, who can receive loans with
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Deutsche Bank shares plunged on Friday, along with the stocks of other European banks, amid investor concerns over the stability of the global banking sector. The drop comes in the aftermath of the recent emergency rescue of Credit Suisse and follows losses in U.S. banks on Thursday. Deutsche Bank Credit
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Voyager had 10 different loan sheets with Alameda at the time it filed for bankruptcy, the filing said. In various filings in September and October 2022, Voyager claimed it held FTT (an exchange token issued by FTX) and SRM (the token for the Serum protocol) as collateral for loans made
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Before the market downturn, lending was big business for the crypto industry. Celsius, sometimes called a “neobank,” accrued over $11 billion assets on its platform. BlockFi, which recently filed for Chapter 11 bankruptcy protection, had been valued at $3 billion just last year. Genesis, a Wall Street-facing firm owned by
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Well, Morpho has a thorny relationship with its pool-oriented peers. It relies on Aave and Compound pools when individual borrowers and lenders can’t be matched, but Morpho also hopes to siphon money from the pools into its own protocol. “The system is not generating more rewards,” says Frambot, “Aave users
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