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Centralized Crypto Lending Platforms Are Going Bankrupt

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Centralized crypto lending platforms are going bankrupt left and right. I want to discuss who I think is next, who will survive, and if there’s something sketchy going on as crypto lenders seemingly begin to form a monopoly.

https://odysee.com/@ScottCBusiness:4/lending-bankruptcies:3

https://rumble.com/v1de6jj-centralized-crypto-lending-platforms-are-going-bankrupt.html

https://www.bitchute.com/video/RDY2G9hDfcp6/

https://peakd.com/hive-167922/@scottcbusiness/vobluzli

This is my 530th episode/article. I put a great deal of work into this content so if you find it valuable, please do like, share, comment and subscribe!

 

While many lenders are going bankrupt like Vauld, Three Arrows Capital, Celsius, and Voyager combined with Blockfi being bought out for a tiny amount people are apprehensive about the crypto space.

Interestingly enough, Nexo has offered to buy out Celsius and Vauld in the last couple of months and it just so happens they are owned by Blackrock. Blockfi was bought out for just 25 million by FTX, a tiny amount though FTX is also an exchange and not just a lender.

 

Blackrock was accused of being part of the downfall of UST which I don’t see as unfounded given they back Coinbase who also offers lending and upholds UDSC, the second largest stablecoin in the market. It turns out they own Verizon which owns Yahoo which owns TechCrunch who started Nexo. So whether or not Blackrock is closely involved in what they do, they also seem to be attached to massive crisis situations that happen in the cryptocurrency market.

 

I personally expect Crypto.com is the next to go down, but there is no evidence to prove that would be the case aside from them pulling back on their interest rates given out, and slashing various rewards & benefits from their card and platform. All their money has gone into marketing like their 700+ million dollar deal to change the Staples Arena to the Crypto.com Arena. However, they do still have an exchange keeping them afloat so it’s hard to say.

 

The main competitors now it would seem are mostly exchanges that also offer lending, but in the lending only department, Nexo is taking over most of its competitors.

 

I’ve already covered this before so this will be my last video most likely covering lending, but this serves as a continued reminder to just stay away from lenders and keep your crypto in your own wallet.

 

Did you get hurt by these lenders going bankrupt? Do you lend crypto at all? Do you still trust and use Defi? Let me know what you think about this in the comments below and don’t forget to subscribe!

 

*Disclaimer: This is not financial advice and is purely for entertainment purposes. What you see, hear, or read is my personal opinion, and any statements made are based on my views and should not be misconstrued as fact. My crypto portfolio may or may not be simulated*

 

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$ 0.00
1 month ago

No doubt it's really as you saying

$ 0.00
1 month ago

I don't think so.

$ 0.00
1 month ago

Hmm. This sounds a awful and seems like a very bad news. Nice context. Stay safe and see you around.

$ 0.00
2 months ago

Actually, I don't think this lending platforms are going to operate again during this bearish season since alot of investors are not paying back. And the fall of Celsius has really affected alot of people and I hope we all make it through this bearish cycle and meet again during the bull run

$ 0.00
2 months ago

I don't think they should continue anyway yeah

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2 months ago

I was unfortunate enough to be on Celsius, since the debacle I bought a Ledger and moved all my funds there. I am done with any type of defi or exchange

$ 0.01
2 months ago

To be fair, that was centralized, so Cefi and not Defi

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2 months ago

I had no idea that Nexo was owned by Blackrock. I'm going to go look into this. I don't see centralized anything making it in the future.

$ 0.00
2 months ago

I totally agree

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2 months ago