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A $20 million lending pool on Goldfinch has bad debts, with an expected loss of $7 million
2023-10-10 00:52
Odaily News A report from the decentralized lending protocol Goldfinch governance platform stated that a $20 million lending pool on its platform had bad debts, with an estimated loss of $7 million. The lending pool provided a 20 million USDC, four-year loan to fintech credit fund Stratos in February 2022, guaranteed at an annual interest rate of 11%, with Warbler Labs as the underwriter. While Stratos’ investment in REZI, a real estate technology company, and digital assets “did not meet expectations,” Warbler Labs said it would cover all losses from investors in the lending pool. (CoinDesk)