Crypto Lending News and Insights
The latest crypto lending news and insights to help you earn more in a safer way
Latest News
BlockFi agrees to return $100K to Californian users
Crypto lending
March 28, 2023
The Department of Financial Protection and Innovation (DFPI) announced that bankrupt lender BlockFi will refund $100K worth of crypto assets to its California-based clients.
Celsius approved to return 72.5% of assets to Custody account holders
Crypto lending
March 22, 2023
Judge Martin Glenn ruled that Celsius’ Custody account holders can receive up to 72.5% of their crypto assets.
Celsius’ litigation expenses exceed $144M
Crypto lending
March 21, 2023
Celsius' legal and advisory expenses have reportedly exceeded the $144M mark.
BlockFi holds uninsured funds worth $227M in Silicon Valley Bank
Crypto lending
March 11, 2023
A recent court filing revealed that BlockFi holds $227M worth of non-FDIC insured funds in an MMMF with Silicon Valley Bank
Aave DAO votes in favor of removing BUSD from V2 lending market
Crypto lending
March 10, 2023
The Aave DAO community approved the proposal to offboard Paxos-issued Binance USD from the Aave V2 Ethereum market.
Celsius processes withdrawals worth $17.7M for custody account holders
Crypto lending
March 9, 2023
Celsius interim CEO Chris Ferraro reported that eligible custody account holders withdrew $17.7M in crypto after the bankrupt lender reopened withdrawals on March 2.
Binance.US wins court approval to acquire Voyager Digital
Crypto lending
March 8, 2023
Judge Michael Wiles has approved Binance US' proposal to acquire Voyager Digital despite significant opposition from the US regulators.
Celsius allows select Custody account holders to withdraw assets
Crypto lending
March 3, 2023
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.
Crypto investor files lawsuit against BlockFi executives and Gemini
Crypto lending
March 2, 2023
A BlockFi investor has filed a class-action lawsuit against BlockFi executives and Gemini, citing that the firms misled customers.
Voyager clients vote in favor of Binance.US’ restructuring plan
Crypto lending
March 1, 2023
A recent survey conducted by Stretto revealed that 97% of Voyager Digital clients voted in favor of Binance.US’ $1.022B plan to purchase the bankrupt lender’s assets.
Celsius reportedly failed to record 7,000 intercompany transactions
Crypto lending
February 17, 2023
A recent court filing claimed that Celsius failed to record 7,000 transactions between the bankrupt lender's affiliate firms.
Celsius debtors unveil NovaWulf-sponsored sale plan
Crypto lending
February 15, 2023
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.
Nexo asks US clients to withdraw funds by April
Crypto lending
February 12, 2023
Nexo announced its plans to shut down lending services for US-based customers on April 1. The crypto lender asked its US clients to withdraw their assets from its platform before the deadline.
Flux Finance launches US Treasury-backed lending token
Crypto lending
February 9, 2023
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.
Celsius extension request denied by US trustee and creditors
Crypto lending
February 9, 2023
The US trustee and Celsius creditors have denied Celsius an extension of its timeline to submit its Chapter 11 restructuring plan. One reason for the refusal is the increased cash burn.
Aave Integrates Proof of Reserve By Chainlink On Avalanche
Crypto lending
February 7, 2023
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.
Genesis, Gemini, And DCG Reaches An Agreement In The Bankruptcy Court
Crypto lending
February 7, 2023
Genesis, Gemini, and DCG have agreed in the bankruptcy court to help Earn users recover their assets. The agreement lays a framework to maximize value for all Genesis clients and stakeholders.
Hodlnaut receives acquisition inquiries from potential investors
Crypto lending
February 6, 2023
Hodlnaut’s interim judicial managers have received inquiries from interested parties who seek to acquire the firm.
Everlend Finance Shuts Down App Citing Liquidity Crunch
Crypto lending
February 2, 2023
Everlend Finance has announced it will shut down due to the market’s liquidity crunch. It urges users to withdraw their assets immediately as the platform has been moved to withdrawal-only mode.
Tether CTO denies allegations of borrowing from Celsius
Crypto lending
February 1, 2023
Paolo Ardoino, the Chief Technology Officer of Tether, denied reports about Tether receiving loans from Celsius.
Independent Examiner’s Report Shows Celsius Was Running A Ponzi Scheme
Crypto lending
January 31, 2023
An independent examiner report has revealed that Celsius used new customer funds to pay for withdrawals. Celsius operated a riskier business different from what it advertised to customers.
Alameda seeks to recover $446M from Voyager
Crypto lending
January 31, 2023
Alameda Research filed a complaint against Voyager Digital to recover $446M worth of crypto assets from the bankrupt lender.
Aave Deploys Version 3 On Ethereum Network
Crypto lending
January 27, 2023
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.
Genesis Global Capital Files For Bankruptcy Protection
Crypto lending
January 20, 2023
Genesis Global Capital filed for chapter 11 bankruptcy following a liquidity crisis caused by the collapse of Three Arrows Capital and FTX.
Hodlnaut’s Creditors Reject Restructuring Plan
Crypto lending
January 13, 2023
Hodlnaut's creditors have rejected its restructuring plan. They instead seek to liquidate the firm’s assets.
BlockFi Releases Presentation Detailing The Progress In Its Bankruptcy Proceedings
Crypto lending
January 10, 2023
BlockFi provided a presentation highlighting the progress since its first-day hearing. The bankrupt lender will provide details on its liabilities and assets on January 11, 2023.
Nexo Pens Open Letter On Vauld Acquisition Deal
Crypto lending
January 6, 2023
Nexo has published an open letter in response to Vauld rejecting its final takeover offer.
Celsius Seeks To Extend Deadline For Submitting Proof Of Claims
Crypto lending
December 29, 2022
Celsius will file a motion to further extend the deadline for users to submit their claims until February.
Investors Sue Gemini Over Its Yield-Bearing Program
Crypto lending
December 28, 2022
Investors have filed a lawsuit against Gemini and its Founders over allegations of committing fraud in the interest-bearing program, Gemini Earn.
Midas Investments Shuts Down Following Significant Losses
Crypto lending
December 28, 2022
Midas Investments announced its plans to shut down its platform after incurring significant losses that have led to a large asset deficit for the firm.
Nexo Submits Final Takeover Proposal To Vauld’s Creditors
Crypto lending
December 27, 2022
Nexo has sent an open letter to Vauld’s creditors after the latter called off its potential acquisition deal with Nexo.
Vauld Rejects Nexo’s Acquisition Proposal
Crypto lending
December 26, 2022
Vauld has pulled out of potential acquisition by Nexo following Nexo's lack of response to due diligence requests.
Celsius Attracts 30 Potential Bidders For Its Retail Platform And Mining Business
Crypto lending
December 21, 2022
Celsius provided an update on its ongoing business processes and disclosed that it has received multiple bids for its assets ahead of its auction process.
BlockFi Requests Court To Allow Holders Of Wallet Accounts To Withdraw Their Assets
Crypto lending
December 20, 2022
BlockFi filed a motion with the Bankruptcy Court in New Jersey to enable withdrawals for Wallet Account holders.
Celsius' Lawyers Seek $52.8M As Litigation Fees
Crypto lending
December 17, 2022
Celsius' legal consultancy firms have filed motions with the Court to receive $52.8M from the bankrupt crypto lender.
Amber Group Raises $300M In A New Fundraising Round
Crypto lending
December 16, 2022
Amber Group has raised $300 million in its Series-C fundraising round led by Fenbushi Capital. The money generated will be used to protect and assist clients affected by the FTX collapse.
Maple Finance Introduces Version 2.0 Of Its Smart Contract Architecture
Crypto lending
December 15, 2022
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.
Tether Plans To Reduce Secured Loans To Zero In 2023
Crypto lending
December 13, 2022
Tether announced its plans to remove secured loans in 2023 in response to widespread concern about the stablecoin issuer’s growing number of loans.
Nexo Obtains Regulatory Approval In Poland
Crypto lending
December 8, 2022
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.
Judge Orders Celsius To Return $50M Worth Of Crypto To Investors
Crypto lending
December 8, 2022
Martin Glenn ordered Celsius to return clients' assets worth $50M at Wednesday's court hearing.
Nexus Mutual Hit With $3M Loss Due To Orthogonal Trading's $36M Loan Default
Crypto lending
December 6, 2022
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.
Court Grants Celsius Extension To Submit Chapter 11 Reorganization Plan
Crypto lending
December 6, 2022
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 Severs Ties With Orthogonal Trading Due To $36M Loan Default
Crypto lending
December 5, 2022
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.
Nexo To Exit US Market Due To Lack Of Regulatory Clarity
Crypto lending
December 5, 2022
Nexo announced its plans to gradually exit the US market after hitting a “dead end” in its discussions with the US regulators.
Genesis And Digital Currency Group Owe $900M To Gemini Users
Crypto lending
December 3, 2022
Genesis and its parent company, Digital Currency Group (DCG), owe $900M to users of Gemini Earn. Gemini has formed a creditors’ committee to re-acquire these funds.
BlockFi Sues Ex FTX CEO Bankman-Fried Over shares in Investment Company Robinhood.
Crypto lending
November 29, 2022
BlockFi launches lawsuit against SBF shell company in a bid to enforce their previous agreement.
FTX Contagion Spreads As BlockFi Files For Chapter 11 Bankruptcy Protection
Crypto lending
November 28, 2022
BlockFi emerged as the latest victim of FTX’s collapse as the crypto lender and eight of its associate firms filed for Chapter 11 bankruptcy.
Aave Pauses Lending Markets For 17 Ethereum-based Tokens
Crypto lending
November 28, 2022
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.
Matrixport Seeks To Raise $100M To Hit $1.5B Valuation
Crypto lending
November 25, 2022
Matrixport targets $100M in funding to attain a $1.5B valuation after securing $50M from its undisclosed investors.
Binance CEO CZ Confirms Plan To Restart Bid For Bankrupt Crypto Lender Voyager
Crypto lending
November 24, 2022
Binance ready another bid for Voyager's assets while clarifying its status as not a Chinese company.
Crypto Lender Hodlnaut Under Investigation Over Allegations Of Fraud
Crypto lending
November 24, 2022
Holdnaut is under investigation by the Singapore police force due to alleged misinformation and false representation.
Crypto Lender BlockFi Places Client Loans Into Forbearance
Crypto lending
November 24, 2022
BlockFi makes further platform moves after stopping customer withdrawals.
Digital Currency Group Owes Intercompany Loans Worth $575M To Genesis
Crypto lending
November 23, 2022
Barry Silbert, the CEO of Digital Currency Group, said the firm owes $575M to Genesis Global Capital, with these intercompany loans due in May 2023.
Genesis Rejects Notions Of Imminent Bankruptcy Filing
Crypto lending
November 22, 2022
Genesis denied rumors of “imminently” submitting bankruptcy filings after failing to raise funds over the last week.
Iris Energy Unplugs Its Miners Following $100M Loan Default
Crypto lending
November 21, 2022
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.
Investors Sue Nexo For Blocking $126M Worth Of Crypto
Crypto lending
November 21, 2022
Three investors filed a lawsuit in the London High Court against Nexo for blocking them from withdrawing their crypto assets.
External Examiner Reports Shortfalls In Celsius’ Custody Program
Crypto lending
November 21, 2022
Shoba Pillay, the external examiner in the Celsius bankruptcy case, reported that the lender's Custody program lacked proper “accounting and operational controls or technical infrastructure.”
Court Approves January 3 As Deadline For Celsius Customers to File Claims
Crypto lending
November 20, 2022
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.
Bitcoin Lender Unchained Capital Downsizes And Reshuffles Management Amid Bear Market
Crypto lending
November 19, 2022
Bitcoin lender, Unchained Capital, has laid off 15% of its employees and restructured its management. This action is due to the prolonged bear market and not any form of exposure to FTX.
Midas Investments Presents Its Proof of Liquidity
Crypto lending
November 17, 2022
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.
Nexo Reports Zero Exposure To Genesis
Crypto lending
November 16, 2022
Nexo’s latest tweets revealed that the platform does not have any exposure to Genesis after the latter suspended its loan services.
Genesis Global Capital Suspends Loan Redemptions Following FTX Insolvency Crisis
Crypto lending
November 16, 2022
Genesis becomes the latest firm affected by FTX’s collapse as its lending entity halts loan originations and redemptions due to liquidity issues.
Oxygen Protocol Opens Up About Its High Exposure to FTX
Crypto lending
November 16, 2022
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.
Salt Lending Pauses Withdrawals As FTX Contagion Spreads
Crypto lending
November 15, 2022
Salt has halted withdrawals and deposits due to the impact of FTX’s collapse. The firm states it will not be continuing operations until it is sure about the extent of impact and the way forward.
Voyager Reopens Bidding Process Following FTX Bankruptcy
Crypto lending
November 12, 2022
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.
Matrixport’s Exposure To FTX Impacts 79 Users
Crypto lending
November 12, 2022
Matrixport’s Earn products were affected by the insolvency of FTX, resulting in losses to 79 clients.
BlockFi’s Leadership Team Page Gets Taken Down
Crypto lending
November 11, 2022
BlockFi's leadership page has been taken down a few hours after the crypto lender began suspending withdrawals.
BlockFi Halts Withdrawals Following FTX/Alameda Crisis
Crypto lending
November 11, 2022
BlockFi has announced that it will limit platform activity, including clients’ withdrawals. This follows the FTX liquidity crunch and a series of reassuring tweets by BlockFi.
Celsius Requests Extension For Submitting Restructuring Plan
Crypto lending
November 10, 2022
Celsius filed motions requesting the Court to extend its exclusivity period for submitting a restructuring plan.
Ledn Remains Unaffected By FTX’s Liquidity Crisis
Crypto lending
November 10, 2022
Ledn reported that it has not experienced any issues in its operations despite having Alameda Research as one of its counterparties
Nexo Boasts Of $0 Net Exposure To FTX
Crypto lending
November 9, 2022
Nexo has boasted of its $0 exposure to FTX amid the exchange crisis. Its small loan to Alameda, fully collateralized by digital assets, was sold off a few days ago, making them immune to any losses.
Iris Energy Faces $103M Loan Default Claims From Lenders
Crypto lending
November 8, 2022
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.
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