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Nexus Mutual Hit With $3M Loss Due To Orthogonal Trading's $36M Loan Default

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.

Maple Finance Severs Ties With Orthogonal Trading Due To $36M Loan Default

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 Pauses Lending Markets For 17 Ethereum-based Tokens

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 Faces $103M Loan Default Claims From Lenders

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.

Singapore Moves to Make Borrowing for Crypto Purchases Illegal

Singapore wants to ban retail investors from borrowing funds to trade cryptocurrency and generating returns from lending and staking. But it does not seek to prohibit crypto services outrightly.

Crypto Lender Moon Mortgage Raises $3.5M Seed Round to Fund Mortgage Product

Crypto lender, Moon Mortgage, plans to launch a product that allows investors to use cryptocurrencies as collateral for financing real estate investments. This follows its successful $3.5M seed round for product expansion.

DefiLlama Founder Branches Into NFT Lending to Solve Liquidity Constraints

DefiLlama’s 0xngmi has moved into NFT lending to tackle liquidity constraints. With the launch of LlamaLend, users can become liquidity providers for their NFT collections and enjoy other benefits.

TrueFi Announces First Default on BUSD Loan by Blockwater Technologies

TrueFi has issued its first notice of default on the BUSD loan to Blockwater Technologies. The firm owes TrueFi over $3.4 million and has only been able to pay $645,000.

DeFi Lender Euler Finance Set to Start Accepting USDT as Collateral

Euler Finance will now be accepting USDT as collateral for loans. The proposal, supported by 88% of the voters, has made Euler the largest Ethereum-driven lending protocol that allows users to take loans with USDT.

Voyager Requests Alameda To Repay $200M Loan

In a recent court filing, Voyager requested trading firm Alameda Research to repay its $200M outstanding loan by September 30.