Maple Finance Lending Pool Delegate ‘Identified a Number of Key Weaknesses’ T...
According to a report from Orthogonal Credit, a delegate of Maple Finance’s lending pools, the firm decided “earlier this year” not to lend to Alameda Research, FTX’s quantitative trading firm. Orthogonal said through “due diligence” it “identified a number of key weaknesses” associated with Alameda. Orthogonal Credit Found ‘Key Weaknesses’ Tied to FTX’s Alameda Research Earlier This Year A Twitter thread published by Orthogonal Credit explains that the firm identified a few weaknesses tied to Alameda Research. The Twitter revelation is explained in a tweet that details....
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The firm pushed Maple Finance to halt Alameda's dedicated borrower pool earlier this year. Orthogonal Credit, an arm of the digital asset hedge fund Orthogonal Trading, disclosed on Nov. 9 that it pushed to close Alameda Research’s dedicated borrower pool on Maple Finance in the second quarter of 2022 after identifying “key weaknesses” in its due diligence. The company announced on Twitter that it had identified a number of key weaknesses while conducting due diligence earlier this year — specifically, declining asset quality and unclear capital policy, among other factors.The assessment....
The capital pool promises to enable greater access to finance for traditional corporations and institutions seeking to capitalize on emerging opportunities within the DeFi space. Digital asset lending platform Celsius has become the first pool delegate from the centralized finance market to deploy a crypto-centric lending service on Maple Finance, utilizing the latter’s smart contract and blockchain infrastructure to facilitate a $30 million pool to institutional investors.Celsius succeeds existing pool delegates BlockTower, Orthogonal Trading, Maven 11 and Alameda Research in partnering....
The institutional lending platform has facilitated $1.8 billion worth of digital currency loans since May 2021. On Tuesday, institutional crypto lending protocol Maple Finance and its delegate Icebreaker Finance announced that they would provide up to $300 million worth of secured debt financing to public and private Bitcoin mining firms. Qualified entities meeting treasury management and power strategies management standards located throughout North America, as well as those in Australia, can apply for funding.On the other hand, the venture seeks to deliver risk-adjusted returns in the....
After expanding beyond Ethereum to Solana, Maple Finance expects its Solana app to control $300 million worth of liquidity by the end of 2022. Crypto capital markets platform Maple Finance has expanded support to the Solana blockchain and has deployed a $45 million fund to spur ecosystem growth.Maple provides undercollateralized loans for institutional borrowers on Ethereum (ETH) and now Solana (SOL) from several pool delegates. The project stated in an Apr. 25 blog post that it has already “originated over $1.2 billion in loans and currently count over $900 million in TVL to the....
With liquidity drying up in the wake of CeFi contagion, borrowers are turning to decentralized finance for their credit needs. Netherlands-based crypto investment firm Maven 11 has launched its third lending pool on Maple Finance, giving borrowers access to liquidity amid the bear market.The $30 million pool financed by institutional lenders will be utilized by trading firms that include Wintermute, Auros and Flow Traders, among others, Maven 11 announced this week. The new pool is designed “specifically for institutions looking for yield opportunities,” the company said. Maple, a....