TrueFi issues first default notice on $3.4M BUSD loan
TrueFi does not expect Blockwater Technologies' default to affect its stablecoin lending pools or capital market portfolios. On Oct. 10, unsecured lending protocol TrueFi issued a default notice to Blockwater Technologies for missing a scheduled payment related to its $3.4 million Binance USD (BUSD) loan, the first declared default on the platform to date. According to the company, the default does not impact lenders in its USD Coin (USDC), TrueUSD (TUSD) and Tether (USDT) stablecoin lending pools, "nor any of TrueFi’s capital market portfolios."As outlined in the statement, TrueFi had an....
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After repayment of TrueFi’s $92 million loan, Wintermute still owes $97.4 million to Maple Finance and Clearpool in loans. When Wintermute, a cryptocurrency market maker, lost $160 million due to a hack, concerns related to the repayment of debt worth $189.4 million surfaced. However, in an exciting turn of events, Wintermute paid back its largest debt due Oct. 15, involving a $92 million Tether (USDT) loan issued by TrueFi.After repayment of TrueFi’s $92 million loan, Wintermute still owes $75 million to Maple Finance in USD Coin (USDC) and wrapped ether (WETH) and $22.4 million to....
Multiple news outlets have reported that Three Arrows Capital is under intense pressure to meet a Monday deadline and return more than $670 million in loans or face default. The likelihood of the crypto-focused hedge fund missing the deadline set by Voyager Digital for repaying a loan of 15,250 Bitcoin and $350 million in USDC […]
Truefi, an uncollateralized loan platform, has raised $12.5 million from three important investors. The token sale was led by Blocktower, a New York-based cryptocurrency investment firm. Other important investors were Alameda Research — owned by Sam Bankman-Fried, founder of FTX — and A16z. Truefi is one of the few uncollateralized defi-based lending protocols in the industry. Truefi Raises $12.5 Million Truefi has raised $12.5 million dollars to expand its operations and its offer of lending products. The investment was made through the purchase of its native token truefi....
Voyager said that it will continue to operate and fulfil their customers’ orders and withdrawals amid its current issues. Crypto exchange Voyager Digital has issued a notice of default to hedge fund Three Arrows Capital (3AC) for its failure to pay its 15,250 Bitcoin (BTC) and 350 million USD Coin (USDC) loan disclosed in a previous statement. In a market update by Voyager, the exchange noted that it's currently exploring "legal remedies" that are available with its advisors and is aiming to pursue the recovery of its funds from 3AC. Additionally, Voyager disclosed that the firm has $137....
The cryptocurrency exchange filed a notice of default to Singapore-based Three Arrows Capital earlier in the week, but promised it would continue operations. Cryptocurrency exchange Voyager Digital announced Friday that it was temporarily suspending trading, deposits, withdrawals and loyalty rewards. “The failure of a borrower, Three Arrows Capital, to repay a substantial loan from us makes this the right path forward,” Voyager Digital CEO Stephen Ehrlich said on Twitter soon after the service suspension went into effect. “This decision, while far from optimal, will give us time to work to....