Crypto Lending Platforms Hit Hard as Contagion Spreads
The crypto lending industry, which handed borrowers billions of dollars in just the past few years, faces its biggest crisis yet as some of its leading firms implode. Genesis Global Capital, which doled out $130 billion in 2021, filed for bankruptcy last week and joined BlockFi Inc., Celsius Network, and Voyager Digital among companies that have collapsed, leaving investors frustrated and regulators scrambling.
