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Not the best week for crypto lending: Law Decoded, June 20-27
28.6.2022
The Celsium failure continues to draw attention to the lending issues from regulators and community
Report: Goldman Sachs Looks to Buy Distressed Assets From Celsius, Crypto Lender Seeks Restructuring Advice
25.6.2022
After the crypto lending platform Celsius halted operations on June 12, at 10:10 p.m. (ET), two days later the Wall Street Journal (WSJ) quoted “people familiar with the matter” who said Celsius was hiring restructuring lawyers. At the time, the WSJ said Celsius was looking to hire...
5 Risks to Know Before Using Centralized Crypto Lending Platforms
25.6.2022
Crypto lending has been one of the most prominent activities in crypto markets. The activity has developed over the years with several crypto lenders emerging to meet the demand for crypto loans. ...
Read More: 5 Risks to Know Before Using Centralized Crypto Lending Platforms
Crisis in crypto lending shines light on industry vulnerabilities
23.6.2022
Leading crypto lending firms and hedge funds have run into trouble due to the market turmoil but more so because of their unchecked reckless decision-making process
ECB head calls for separate framework to regulate crypto lending
22.6.2022
Christine Lagarde introduced a “MiCa II” idea to cover the issues yet untouched by European regulators
Crypto Lender Blockfi Secures $250 Million Line of Credit From FTX, CEO Says Capital Will Bolster Its Balance Sheet
21.6.2022
The crypto lender Blockfi detailed on Tuesday that the company secured a $250 million line of credit from FTX. Blockfi’s CEO Zac Prince announced on Twitter that the company will use the capital to bolster Blockfi’s “balance sheet and platform strength.” Blockfi Obtains...
Celsius token CEL rises 300% in one week amid a GameStop-like 'short squeeze' event
21.6.2022
The crypto lending platform's Insolvency risks puts CEL price at risk of a 70% drop
Crypto lending platform Babel Finance reaches counterparty debt agreement
21.6.2022
The firm emphasized that it will “actively fulfill its legal responsibilities to customers and strive to avoid further transmission and diffusion of liquidity risks.”
Crypto lending can still survive bear market, analyst says
20.6.2022
Bear markets are much more brutal for crypto lenders than cryptocurrency firms that don’t leverage users’ deposits, according to one Bitcoin analyst
Crypto Lending Platforms 'Should Be Regulated': Former CFTC Chairman
15.6.2022
“A lot of people have losses who didn't understand the risks they were taking,” former Commodity Futures Trading Commission (CFTC) Chairman Timothy Massad said on CoinDesk TV’s “First Mover,” following the freezing of account withdrawals on crypto trading platform Celsius
Report: Celsius Seeks Help From Restructuring Lawyers Over Financial Hardship
15.6.2022
Following the rumors and speculation surrounding the crypto lending firm Celsius, a Wall Street Journal report, quoting “people familiar with the matter,” explains that the company is reportedly hiring restructuring lawyers. Basically, hiring restructuring and insolvency attorneys...
Crypto Lending Company Blockfi Cuts Staff by 20%
13.6.2022
On Monday, the cryptocurrency lending company Blockfi announced that “market conditions” have had a “negative impact” on the firm’s business and it will be laying off “roughly 20%” of its staff. The message written by Blockfi co-founders Zac Prince...
Crypto Lending Service Celsius Pauses Withdrawals, Citing 'Extreme Market Conditions.'
13.6.2022
The company will also pause its swap and transfer products, according to a blog post. It did not provide a timeline for resuming withdrawals
AAVE, Compound, & Mountanaz: Crypto Lending Platforms in 2022!
20.5.2022
For many people, this is the first time seeing that it is possible to lend and borrow on DeFi. We have truly transitioned into a world where intermediaries & central authorities can be removed from financial transactions; now, the power is in our hands. The lending and borrowing process...
First Mover Asia: Terra’s Planetary Collapse Is Taking Down Crypto Lending; Altcoins Plummet
13.5.2022
Data suggests that many traders are moving their assets from DeFi protocols; bitcoin rallies after falling below $26,000 in Thursday trading
What is crypto lending and how does it work?
12.4.2022
The borrower and the lender are two distinct actors in the crypto lending transaction. Borrowers put up cryptocurrency as collateral to secure a loan from a lender
Powers On… The SEC takes reactionary moves against crypto lending
28.2.2022
Crypto Lender Nexo Terminates Interest Payments on New Deposits From US Clients
21.2.2022
Following the U.S. Securities and Exchange Commission (SEC) charging the crypto lending platform Blockfi with failing to register its retail crypto lending product and fining the firm $100 million, the crypto lender Nexo has announced it will no longer allow U.S. citizens to earn interest on...
SEC Warns Against Interest-Bearing Crypto Accounts — Says They’re Riskier Than Bank Deposits
16.2.2022
The U.S. Securities and Exchange Commission (SEC) has warned investors about the “risks with accounts that pay interest on crypto-asset deposits.” The warning coincides with the first enforcement action the agency took against crypto lending platforms. SEC Warns About Risks...
First for SEC: Crypto Lending Platform Charged — Blockfi Agrees to Pay $100 Million in Penalties
15.2.2022
The U.S. Securities and Exchange Commission (SEC) has charged cryptocurrency lending platform Blockfi in a first-of-its-kind action. The crypto lender has agreed to pay $100 million to settle the charges and pursue necessary registrations. SEC Charges Crypto Lending Platform Blockfi The U.S....