$100M+ in Margin Calls: Crypto Lenders Demand Collateral as Market Buckles
“As of five minutes ago, everyone who needed to post collateral has,” Genesis CEO Michael Moro said Friday afternoon.
Cryptocurrency trading platform liquid.com and crypto mining firm NiceHash were two of at least six firms that had control of their domains briefly transferred.
The proof-of-reserves pilot would take information that appears on Celsius’ website and have it fed from a public Horizen sidechain instead.
In an interview with CoinDesk TV, CEO Alex Mashinsky explained why CEL has drawn recent interest from altcoin investors.
Like all lending, the crypto kind carries risk. Celsius may be taking more of it than depositors, who have loaned it more than $1 billion, fully realize.
Celsius Network has teamed up with oracle provider Chainlink to make the price feeds it uses to calculate asset interest rates less centralized.