Lending Representative On Maple Finance Decision To Not Lend To Alameda

Orthogonal Credit, a representative of Maple Finance’s lending pools, reportedly stated in a report that the company opted “early this year” not to lend to Alameda Research, FTX’s quantitative trading subsidiary. By exercising due diligence, Orthogonal discovered several major flaws related to Alameda.

According to a tweet from Orthogonal Credit, the company discovered a few flaws related to Alameda Research. The representative of Maple Finance’s lending pools has no Alameda exposure and has not underwritten a loan to Alameda since Feb 22.

These claimed defects, in Orthogonal’s view, pertain to Alameda’s business activities, the quality of the assets it reported having on its balance sheet, and the company’s organizational structure. These factors led Orthogonal to decide to sever its lending ties to Alameda.

Following a flurry of businesses emphasizing to the public that they had no substantial exposure to FTX, Orthogonal provided their testimony. The Maple Finance lending pool delegate concluded that the company has an enduring commitment to cryptocurrency as an asset class, which is crucial in times of uncertainty, and that a proactive and scientific approach to risk is equally important.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Harold

CoinCu News