Celsius has reopened withdrawals for select holders of Custody accounts. The news has received a mixed reaction from the crypto community as only a fraction of Celsius users can withdraw their tokens.
Celsius’ debtors have released a sale plan that outlines their strategy to compensate the bankrupt crypto lender’s clients. The proposed sale plan will be sponsored by investment firm NovaWulf Digital Management.
Flux Finance has launched a decentralized lending protocol that is backed by OUSG. This will enable users to deposit USDC and DAI into the Flux protocol and in return, earn fUSDC and fDAI respectively.
Aave has integrated Proof of Reserves by Chainlink on Avalanche. This will enable on-chain verification and transparency of lending markets. It will also ensure bridged assets are adequately collateralized.
Aave has deployed its V3 on the Ethereum Network after a successful unanimous vote by its governance. The upgrade incorporated a flexible architecture that helps mitigate user risk and improve capital efficiency.
Summary: Maple has released Maple 2.0, a fundamental upgrade of its smart contract architecture. This version comes with new features that will help improve the quality of services to Maple’s users and partners.
Nexo has won regulatory approval in Poland. It is now registered with the Ministry of Finance of Poland as a Virtual Asset Service Provider (VASP). This gives the company the right to provide services and harness Poland’s potential as a growing crypto hub.
Nexus Mutual is facing a $3 million loss due to Orthogonal Trading’s loan default. This accounts for about 1.5% to 2.6% of the company’s assets. Nexus has initiated actions to recover available funds in the M11 pool.
Celsius has been granted an extension of its exclusivity period by the court. The company promises to utilize this period to develop plans for a stand-alone business and the benefits of its customers and stakeholders.
Maple Finance has cut ties with Orthogonal trading due to its $36 million default loan. The lending firm expressed disappointment in Orthogonal, citing its misrepresentation of financial position as a violation of agreements.
Aave has temporarily frozen lending markets for 17 Ethereum-based tokens. According to the approved proposal, these are low-liquidity asset pools, and their freezing will reduce the risk profile for highly volatile assets.
Iris Energy has unplugged many mining machines due to a loan default. The lender has demanded that the payments be made in full immediately, and the hosting arrangements with the facilities have been terminated.
The court has approved January 3 as the bar date for all Celsius customers to file their claims. Stretto will send out a notice to all customers through emails, physical mail and notifications on the Celsius app.
Midas Investments has publicly showcased its Proof of Liquidity, revealing addresses for $91 million AUM out of its $145 million. The platform promised to continue its efforts to update users and promote transparency.
Oxygen has revealed it has significant exposure to FTX, stating that the exchange was the custodian for about 95% of the tokens in its ecosystem. The DeFi lender is now looking for ways to protect its ecosystem.
FTX’s collapse has prompted Voyager to reopen the bidding process for its buyout. The company is in active discussion with other interested companies and is making efforts to ensure maximum value is returned to its customers.
Iris Energy is facing default claims from its lenders over a $103 million default loan of the Non-Recourse SPVs. The firm has disagreed with the alleged notice, stating that modifications need to be made for each term of the facility.
BlockFi has stated that all its products remain fully functional regardless of the Binance-FTX deal. The lending firm, which was supposed to be acquired by FTX, will now run as an independent entity until at least July 2023.
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