Crypto lending platform Goldfinch has suffered its third default
The cryptocurrency lending platform Goldfinch has experienced its third default, and affected users are calling on Goldfinch to use funds from the protocol's $107 million treasury to repay them. Borrower Lend East had previously obtained a loan worth $10.15 million with the support of Goldfinch users. On April 1, it was announced that Warbler Labs, the parent company of the Goldfinch protocol, stated that Lend East will only be able to repay about $4.25 million of the loan and is expected to default on the remaining $5.9 million when the loan expires on April 3. Critics say that repeated defaults highlight the difficulties of underwriting loans in emerging markets and expose serious problems with the Goldfinch protocol model.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Over 92.3% Price Pump Await FLOKI Holders as the Memecoin Turned Altcoin Shows Strong Bullish Indicators
Monkey Tilt Raises $30M to Redefine Online Gaming with Crypto and Classic Casino Features
$47B in BTC may flow into Bitcoin L2s by 2030 — Galaxy Research
Mara Holdings raises $1B for Bitcoin acquisition, debt buyback