.M11Credit graded its credit underwriting process and appointed a new head of credit. It saw $36 million of defaulted loans on lending protocol maplefinance following FTX_Official’s collapse. sndr_krisztian reports
it is raising additional funds for the pool to lend to a “highly reputable and creditworthy market-neutral trading firm that we've carefully vetted.”M11’s renewed activity on crypto credit markets and the recentof trading firm Auros may signal a turning point for crypto lending after the FTX collapse led to lenders recalling loans and reducing lending.
The upcoming volatility on crypto markets and scarcity of lending after the blowup of multiple centralized lenders present an opportunity for M11 Credit, the firm“We anticipate that the upcoming Ethereum Shanghai upgrade, persisting regulatory pressure, and prevailing macro risks may elevate volatility in the cryptocurrency market, presenting opportunities for market-neutral trading firms and driving demand for trading capital.
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