Digital Currency Group has over $320 million left to repay, according to Genesis, and the deal would see that remaining sum repaid by April next year.
SBF seeks to probe FTX lawyers’ roles in $200M Alameda loans
Sam Bankman-Fried’s legal team is seeking permission to cross-examine Gary Wang over FTX lawyers’ involvement in Alameda loan approvals.
Crypto Lenders Caused Crypto Contagion Last Year. How Is the Industry Rebuilding?
After bankruptcies tore apart the crypto lending, the industry is attempting to rebuild in a sustainable and accountable manner.
Coinbase launches crypto lending platform for US institutions
Coinbase’s new institutional lending service has the same operating entity as Coinbase Borrow, which halted issuance of new loans in May.
Quantstamp introduces tool to detect protocols’ flash loan attack vulnerability
The new service, called Economic Exploit Analysis, uses University of Toronto research and will work on any EVM-compatible blockchain.
CRV exposure risk throws a curveball at the DeFi ecosystem: Finance Redefined
Most DeFi tokens traded in the red on weekly charts due to the chaos caused by the Curve Finance exploit.
Curve liquidation risk poses systemic threat to DeFi even as founder scurries to repay loans
A Curve Finance hack sparked a sharp sell-off, and while DeFi traders stepped in to support CRV, the possibility of a contagion-level event remains.
DeFi Died and We Didn’t Even Notice
The behavior of Curve founder Michael Egorov is warning to all, and proof that DeFi isn’t really that different from traditional finance.
DCG settlement with Genesis still undecided as 30-day mediation period proceeds
The settlement plan proposed in February would give Genesis creditors 80% recovery of funds but many raised demands, leading to the mediation.
Coinbase to cease issuing new Bitcoin-backed loans via Borrow service
The service allows users to borrow up to $1 million with no credit check, provided they post Bitcoin as collateral.
Winklevoss twins infuse Gemini with $100M personal loan: Report
The cash infusion reportedly followed Gemini attempting to get funding from outside investors without success.
BlockFi to provide over $100K in refunds to California clients
At least 111 BlockFi borrowers had continued repaying loans between Nov. 11 and Nov. 22, even though they didn’t need to, according to court documents.
NFT investor accidentally burns $135k CryptoPunk trying to borrow money
While going through the unfamiliar process of wrapping NFTs, Riley accidentally sent the asset to a burn address, permanently deleting the NFT from circulation.
Australian Banking Association’s cost of living inquiry reveals bank pressure
An analysis of the rising inflation and concurrent collapse of Silicon Valley Bank proved that more than 186 banks in the U.S. are at risk of a similar shutdown if depositors decide to withdraw all funds.
Yield platform Stablegains sued for promoting UST: Finance Redefined
DeFi market saw another exploit this past week on the Platypus protocol, resulting in a loss of over $8 million.
Platypus attack exploited incorrect ordering of code, auditor claims
The misordered lines caused a solvency check to be performed before the user’s amount, factor, and rewardDebt had been set to zero
Bitfarms settles outstanding loan with BlockFi for $7.75M
The Toronto-based Bitcoin mining company has reduced its debt by nearly 85% since June 2022.
Bitfarms seeks to modify loan facility with BlockFi as bear market drags on
“During 2022, Bitfarms began taking proactive actions to increase financial flexibility and to reduce indebtedness and capital expenditure obligations,” according to CFO Jeff Lucas.
SBF borrowed $546M from Alameda to fund Robinhood share purchase
An affidavit by the FTX founder revealed Alameda funded the purchase of Robinhood shares which were later used as collateral for Alameda to secure a loan from BlockFi.
Public Bitcoin mining companies plagued with $4B of collective debt
The Bitcoin mining community took up massive loans during the 2021 bull market, negatively impacting their bottom lines during a subsequent bear market.