I have two things to talk about this week - the CeFi lending apocalypse and surging ETH rates on Notional. We'll start with CeFi. The death of the CeFi lender A few weeks ago around the time of the FTX revelations I said in this newsletter that there was a significant probability that we had reached the end of the line for CeFi lending. Looks like that was about right. Genesis trading, the central nexus of the CeFi lending market has halted withdrawals and may soon enter bankruptcy proceedings.
Weekly Interest Rate Roundup: Nov 22 - Nov 29
Weekly Interest Rate Roundup: Nov 22 - Nov 29
Weekly Interest Rate Roundup: Nov 22 - Nov 29
I have two things to talk about this week - the CeFi lending apocalypse and surging ETH rates on Notional. We'll start with CeFi. The death of the CeFi lender A few weeks ago around the time of the FTX revelations I said in this newsletter that there was a significant probability that we had reached the end of the line for CeFi lending. Looks like that was about right. Genesis trading, the central nexus of the CeFi lending market has halted withdrawals and may soon enter bankruptcy proceedings.