Crypto Lenders Say Wednesday’s Crypto Crash Cleaned Up ‘Excessive Leverage’
- Date: 21-May-2021
- Source: Yahoo News
- Sector:Financial Markets
- Country:Middle East
Crypto Lenders Say Wednesday’s Crypto Crash Cleaned Up ‘Excessive Leverage’
The COVID-19 pandemic and latest bitcoin bull run have provided a handful of stress tests for cryptocurrency lending firms.
During Wednesday’s market correction lenders were more prepared.
The latest dip didn’t hurt as much as March 2020, but it did clear out “excess leverage,” said Nexo co-founder and managing partner Antoni Trenchev.
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