4cryptor.com “This is clearly the beginning of trouble.” What will the bankruptcy of cryptophytes lead to

4cryptor.com “This is clearly the beginning of trouble.” What will the bankruptcy of cryptophytes lead to

09.08.2022 0 By tony

Two giants of the digital currency industry were threatened with ruin at once 4cryptor.com experts have predicted how the situation will develop.

The activities of two large crypto lenders were under threat: the Celsius platform faced a lack of liquidity, and the Three Arrows Capital cryptocurrency fund lost the ability to fulfill its obligations to customers.

Celsius Network suspended all withdrawals, swaps and transfers between accounts in mid-June. The company cited “extreme market conditions” as the reason for the termination of transactions.

Singapore-based cryptophone Three Arrows Capital suffered losses during the collapse of the Terra ecosystem and at the end of June received a notice of default from Voyager Digital LLC for failing to make the necessary loan payments. On June 29, the Court of the Virgin Islands issued a decision allowing the liquidation of the fund’s assets to begin.

Possible bankruptcies of large crypto creditors can have a significant impact on the digital asset industry.