Crypto trading firm Auros Global, a victim of FTX’s bankruptcy, has reached a resolution to restructure its distressed debt on blockchain-based lending protocol Maple Finance. sndr_krisztian reports
M11 said Auros has already repaid 55% of the outstanding debt to the lending pools. Another 40% of the debt was reissued for a maximum of nine months at 8.64% annualized interest in three cycles of 90 days. The rest of the debt was renewed at zero interest with a 90-day maturity.
Liquidity providers of the affected lending pools should expect full recovery of their funds, M11 Credit said.on lending protocols such as Maple as the collapse of high-profile crypto firms such as Celsius Network, Three Arrows Capital and FTX resulted in a widespread liquidity crisis, leading to loan defaults and insolvencies.$36 million of outstanding debt on Maple from Orthogonal Finance, a crypto trading firm that allegedly misrepresented its financials after FTX collapsed.
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