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Swan Bitcoin CEO against crypto lenders: Users are way under-compensated for the risk

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cointelegraph.com

Swan Bitcoin CEO Cory Klippsten believes that the liquidity crisis involving Celsius Network may be just the beginning of a broader collapse in the crypto lending space. "It doesn't matter if you're an amazing CeFi lending platform, taking these retail deposits and lending them out the back end and giving them yield, or a terrible one, they're all going to get kind of dragged down," Klippsten said in an exclusive interview with Cointelegraph.

Celsius, a leading crypto lending platform, halted withdrawals earlier this month, citing “extreme market conditions.” Since then, other crypto firms, including Babel Finance and Three Arrow Capital, have experienced liquidity issues.

Read more on cointelegraph.com
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