Factbox: Crypto lenders run into difficulties
— Difficulties recently due, Market conditions, Temporarily suspend withdrawals, Covid, Com registercompiled, Reuters, Liabilities worth, Factbox, Possible bankruptcy filing, June 13 — 1 min read
Crypto lenders, which boomed during the COVID-19 pandemic, have run into difficulties recently due to a slump brought on by the downfall of a major token in May and a global risk-off sentiment. The South Korea-based company, Terraform Labs, has plunged in value in May, sparking sell-offs and igniting a chain reaction. The U.S.-based crypto lender Voyager Digital said on July 6 it had filed for bankruptcy. Three Arrows Capital (3AC) entered liquidation on June 29, two days after receiving a notice of default from lender Voyager for failing to make payments on a crypto loan of about more than $650 million. On July 4, the American-Israeli company said it has laid off a quarter Source