2022-12-12
Update on @Auros_global: We would like to update lenders in the wETH and USDC (Permissioned) pools on @maplefinance regarding the status of the loans issued to Auros. All of the loans will enter arrears on-chain and begin incurring penalty interest. (1/3)
CoinDesk
A look at what went wrong at decentralized lending protocol Maple Finance, as $54M in loans, or 66% of its lending pools, turn bad and what could happen next
Maple Finance, the largest unsecured crypto lending platform, is grappling with a debt crisis while gearing up for a major system upgrade. Tweets: @peckshieldalert , @m11credit , @...
2022-12-05
We believe that Orthogonal Trading purposefully misstated their exposure and has therefore severely breached contractual agreements. 2/3
The Block
Orthogonal Trading defaults on eight loans to lending protocol Maple Finance, totaling $36M, or ~30% of active loans on the protocol, likely due to FTX exposure
- Orthogonal Trading has defaulted on eight loans totalling $36 million on lending protocol Maple Finance.
On December 3rd, Orthogonal Trading informed us that due to funds held on FTX, they incurred a much larger loss than previously disclosed to us, and will not be able to repay loans or uphold their obligations as a borrower. https://link.medium.com/... 1/3
The Block
Orthogonal Trading defaults on eight loans to lending protocol Maple Finance, totaling $36M, or ~30% of active loans on the protocol, likely due to FTX exposure
- Orthogonal Trading has defaulted on eight loans totalling $36 million on lending protocol Maple Finance.