Reckless – Chapter 16: The Earn Collapse

March 05, 2023

Chapter 16 of the book Reckless: The Story Of Cryptocurrency Interest Rates is published below. Voyager was also a large 3AC creditor, the largest 3AC earn platform creditor and this resulted in the Voyager’s bankruptcy. Counterparty risk: The earn platform needs to ensure that it has sufficient diversification with respect to its credit counterparties. Other Insolvent Earn PlatformsIn the aftermath of the crash, bankruptcies and financial contagion, several other earn businesses suspended withdrawals. To try and put a stop to the panic, just like Voyager, BlockFi announced a deal with FTX.

The source of this news is from BitMEX