Blackrock CEO says, firm invested $24 million in FTX
What Ethereum [ETH] holders should expect in the near-term
Here’s what TRX investors need to know about Tron’s latest weekly report
Cryptocurrency firm Auros Global misses DeFi payment, thanks to FTX
Why did Huobi Token surge at the news of this proposed token launch?
Bitcoin: Why the low social activity around the leading coin should concern you
Bitcoin’s accumulation trend score and everything latest for your next trade
Will BTC repeat history amid DOGE witnessing its most recent rally
Bitcoin’s [BTC] bearish pennant has some tips for its long-term holders
Bitcoin [BTC] retail investors embrace the crypto winter while whales shy away
What Ethereum [ETH] holders should expect in the near-term
Ethereum miner revenue reaches monthly high, but here’s the issue
Assessing whether Ethereum’s [ETH] price rally is imminent in the short term
Reasons ETH investors can be disappointed despite Ethereum’s latest milestone
Lido Finance: LDO’s reaction to whale accumulation calls for vigilance because…
Published
on
By
Cryptocurrency trading firm Auros Global has missed a loan repayment of 2,400 Wrapped Ether (wETH) worth $3 million. The update was shared by the institutional credit underwriter M11 Credit which manages liquidity pools on Maple Finance.
According to M11 Credit, Auros is experiencing a short-term liquidity issue as a result of FTX’s insolvency. M11 Credit also stated that it is in close contact with its borrowers, particularly in light of recent events.
With the announcement of FTX’s bankruptcy filing on 11 November, a number of crypto and blockchain companies have filed for bankruptcy or are about to do so.
Furthermore, crypto lending firm BlockFi declared bankruptcy on 28 November. Galois Capital and New Huo Technology have also lost millions of dollars from FTX’s collapse.
Crypto mining firm Compute North filed for Chapter 11 bankruptcy on 22 September with almost $500 million in liabilities. Another mining firm Core Scientific’s filing with the Securities Exchange and Commission (SEC) last month revealed that the Texas-based mining company may run out of cash before the end of 2022.
As per the smart contracts, Auros Global has a 5-day grace period to repay its loan. If it does not make the loan payment by 5 December, it will be declared in default.
In the event of a default, the borrower’s collateral could be liquidated and/or staked maple tokens and USDC on the platform used to cover any shortfalls to lenders. New York courts could also be used to pursue enforcement action.
On 27 November, only three days before M11’s announcement about Auros’ short-term liquidity problems, the trading firm borrowed 2,000 wETH ($2.6 million) with a 14-day maturity. Auros owes M11’s wETH credit pool on Maple an aggregate of 8,400 wETH ($10.7 million).
It should, however, be noted that an algorithmic trading and market-making firm, Auros has not yet addressed the statement by M11 Credit.
Here’s what TRX investors need to know about Tron’s latest weekly report
Why did Huobi Token surge at the news of this proposed token launch?
Ser Suzuki Shillsalot has 8 years of experience working as a Senior Investigative journalist at The SpamBot Times. He completed a two-hour course in journalism from a popular YouTube video and was one of the few to give it a positive rating. Shillsalot’s writings mainly focus on shilling his favourite cryptos and trolling anyone who disagrees with him. P.S – There is a slight possibility the profile pic is AI-generated. You see, this account is primarily used by our freelancer writers and they wish to remain anonymous. Wait, are they Satoshi? :/
Blackrock CEO says, firm invested $24 million in FTX
Assessing the current state of FTX, tracking stolen funds, and SBF’s two cents on…
U.S. Senator questions crypto exchanges on their user protection policies
Binance’s latest acquisition will enable it to set foot in this country after four years
South Korean prosecutors out to arrest Terraform Labs’ co-founder Daniel Shin
All there is to know about Compound Finance’s latest proposal
Your email address will not be published.
Disclaimer: AMBCrypto’s content is meant to be informational in nature and should not be interpreted as investment advice. Trading, buying or selling cryptocurrencies should be considered a high-risk investment and every reader is advised to do their own research before making any decisions.
How To Make Huge Profits In A Short Time With CryptoGet detailed training system that shows an absolute beginner (without any skill) how to make huge profits in a short time with crypto.
Crypto + NFT Quick Start CourseThe #1 course for profit in the Crypto & NFT world - You will discover the secrets that 99% of people don’t know yet
