News on popular crypto lending and borrowing companies such as Cred, BlockFi, Compound, and Crypto.com.
Bitcoin miner Greenidge lost $130M in 2022 Q4; restructures debt with NYDIG, B. Riley
The Bitcoin miner restructured its debt with its creditors, giving it more time to repay and further opportunities to reduce its debt burden.
Four RWA lending protocols rank among top 10 lending apps with largest collected interest
TrueFi, Maple Finance, Goldfinch, and Centrifuge collected the third, fourth, seventh, and tenth largest sum in interest, respectively.
Celsius may restructure and issue new token
The company's plans must still be approved by courts and creditors.
Maple Finance records a loss of $7M at end of 2022
Maple Finance Q4 report shows it originated about $87 million across 23 new loans, which is down by 67% from its previous record of $262 million.
ByBit CEO clarifies Mirana exposure to bankrupt Genesis
Ben Zhao said Mirana's reported $151 million exposure was collateralized by around $120 million which has already been liquidated.
Genesis owes over $3.5B to top 50 creditors, owes $765.9M to Gemini Earn users
Genesis' bankruptcy filing shows a much lower debt liability to Gemini Earn users than the $900M debt Cameron Winklevoss had claimed.
Genesis Global caves to liquidity issues, files for Chapter 11 bankruptcy
Genesis' custody, derivatives, broker-dealer, and spot trading business are not part of the bankruptcy proceedings.
Nexo reaches $45M settlement with SEC, others
The charges concern Nexo's EIP, which is no longer offered in the U.S.
Silvergate Capital posts $1B loss in Q4’22
Silvergate reported a net loss of $1 billion and a decrease in digital asset customers and customer-related fee income.
SEC charges Gemini, Genesis over Earn program; Winklevoss responds
The now-defunct service allegedly constituted an unregistered securities offering.
DCG scrambling to raise funds to cover Genesis’ $3B debt burden
DCG is trying to liquidate its venture capital holdings worth $500 million, which is less than 17% of Genesis' outstanding debt.
Gemini officially discontinues Earn product
The exchange has finally terminated its loan agreement with Genesis.
Vauld rejects final acquisition offer from Nexo
Nexo won't acquire the customers or assets of its failed competitor.
Genesis needs more time to sort ‘complex’ financial situation
Genesis CEO said the firm remains focused on its effort to solve its financial issues.
Gemini Earn users launch class arbitration against Genesis, DCG
The claimants allege that Genesis breached its agreement with Gemini Earn users and engaged in the unregistered sale of securities.
Vauld says Nexo acquisition has broken down
Nexo suggests that its plans continue despite Vauld's insistence to the contrary.
BlockFi one step closer to opening withdrawals, but not for majority of users
The company intends to gain court authorization and allow users to retrieve funds.