Crypto Lender Cred Files for Bankruptcy
Crypto Lender Cred Files for Bankruptcy
- In October, the lender published a cryptic letter saying that it has experienced “irregularities” in the handling of “specific” corporate funds by a “perpetrator of fraudulent activity.”
- Trading platform Uphold also told customers last month that it had “decided to discontinue its relationship with Cred.”
- In March, several crypto lenders struggled to weather the bitcoin crash, with some making margin calls of $100 million or more.
- Cred’s CEO Dan Schatt did not immediately respond to request for comment.
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