Cred Taps Former NSA, Western Union Bosses for Leadership Team
Crypto lender Cred is bolstering its technical knowledge by bringing on an experienced CISO and CTO.
Cred’s bankruptcy filing mainly blames fraud by an outside party. The full picture painted by former employees is more complex, and highlights the risks of the budding crypto lending market.
In October, the lender published a cryptic letter saying it has experienced “irregularities” in the handling of “specific” corporate funds by a “perpetrator of fraudulent activity.”
Judge John Dorsey of the Delaware Bankruptcy Court rejected a motion to appoint a Chapter 11 trustee to oversee Cred’s restructuring.
Decentralized lending platform Cred says it's cooperating with law enforcement over a "loss of funds."
Decentralized lending platform Cred is the latest crypto firm to join Visa’s Fintech Fast Track Program with the goal of scaling faster.