lender

From $25 billion to $167 million: How a major crypto lender collapsed and dragged many investors down with it

From $25 billion to $167 million: How a major crypto lender collapsed and dragged many investors down with it

Celsius filing for bankruptcy this week surprised virtually no one. Once a platform freezes customer assets, it’s typically all over. But just because the fall of this embattled crypto lender didn’t come as a shock, doesn’t mean it wasn’t a really big deal for the industry. In October 2021, CEO Alex Mashinsky said the crypto …

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Crypto lender Vauld offered lifeline a day after suspending withdrawals

Crypto lender Vauld offered lifeline a day after suspending withdrawals

Placeholder while article actions load A day after crypto lender Vauld halted all withdrawals amid cratering digital currency prices, a rival offered it a lifeline. London-based Nexo announced Tuesday that it signed off on a term sheet that would allow it to purchase as much as 100 percent of Vauld, expanding its presence in Southeast …

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Crypto lender BlockFi struggles to raise cash despite discount: source

Crypto lender BlockFi struggles to raise cash despite discount: source

Crypto lender BlockFi is struggling to raise cash despite offering to take a steep discount on its valuation, raising the risk that it could be forced into a financial restructuring, The Post has learned. The Jersey City, NJ based startup, which last fall raised $400 million in a funding round that valued the company at …

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Crypto hedge fund Three Arrows fails to meet lender margin calls

Crypto hedge fund Three Arrows fails to meet lender margin calls

Three Arrows Capital failed to meet demands from lenders to stump up extra funds after its digital currency bets turned sour, tipping the prominent crypto hedge fund into a crisis that comes as a credit crunch grips the industry. The group’s failure to meet margin calls this past weekend makes the group the latest victim …

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Crypto lender Celsius pauses withdrawals due to 'extreme market conditions'

Crypto lender Celsius pauses withdrawals due to ‘extreme market conditions’

Celsius CEO Alex Mashinsky. Piaras Ó Mídheach | Sportsfile for Web Summit | Getty Images Celsius, a controversial cryptocurrency lending platform, said Monday it was pausing all withdrawals, causing more pain in the fragile crypto market. Celsius is one of the largest players in the nascent crypto lending space, with more than $8 billion lent …

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