Crypto lending platforms experiencing a massive stress test

Uncertainty related to the collapse of 3AC, corresponding defaults, and lending platform Celsius’ halting of withdrawals as they face a potential bankruptcy is leading to a vicious withdrawal cycle on other centralized lending platforms.
Source: Nexo, Armanino, WebArchive (Wayback Machine)

Voyager is, per current public knowledge, the most distressed lending platform following the 3AC collapse. On Monday, Voyager issued a notice of default to 3AC of a loan amounting to 15,250 BTC and $350m USDC.

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