November 10, 2022, 4:36PM EST • 5 min read Quick Take Searching for Alpha is a series that summarizes under-the-radar protocols that The Block Research team finds interesting. This week’s findings wi...
Tag: loan
Solend accrues $6 million in bad debt from a single underwater loan
Solend, a lending protocol on Solana, has accrued a bad debt of more than $6 million from a large underwater position. After a sharp fall in the price of solana (SOL) — down about 50% in the las...
Solend struggling to liquidate SOL loan due to congestion
A large lending position on Solana-based lending platform Solend is now underwater but infrastructure issues are preventing it from being properly liquidated. As a result, the protocol faces the risk ...
Auto loan delinquencies rise as loan-accommodation programs end
With inflation cutting into the budgets of Americans, a growing percentage of people with auto loans are struggling to make their monthly payments. TransUnion, which tracks more than 81 million auto l...
How To Prevent The Next Student Loan Crisis
WASHINGTON, DC – MAY 12: Student loan borrowers gather near The White House to tell President Biden … [+] to cancel student debt on May 12, 2020 in Washington, DC. (Photo by Paul Morigi/Ge...
Bitcoin Miner Iris Energy On Verge of $103 Million Loan Default
Yet another major North American Bitcoin miner is looking ill-prepared to pay off its debts before the end of the year. This time it’s Iris Energy – a sustainability-focused miner that recently revea...
Bitcoin mining firm Iris Energy on verge of $103M loan default
A tweet from Bitcoin Magazine Analyst Dylan LeClair stated BTC mining firm Iris Energy is close to defaulting on a $103 million loan held by the New York Digital Investment Group (NYDIG). He continued...
Wells Fargo mortgage staff brace for layoffs as U.S. loan volumes collapse
Mortgage volumes at Wells Fargo slowed further in recent weeks, leaving some workers idle and sparking concerns the lender will need to cut more employees as the U.S. housing slump deepens. The bank h...
Terra-Victim Invictus Capital Defaults on $1M TrueFi Loan
This is the second uncollateralized loan to default on TrueFi within a month following Korea-based Blockwater’s failure to repay its $3 million debt on the platform. Another decentralized lending prot...
BlockFi faces heavy losses from its loan to Core Scientific
Listen to this article. Last week, the fledgling US-based miner Core Scientific, which has been selling most of its bitcoin throughout this year announced that it’s ready to go through bankruptcy proc...
BlockFi faces heavy loses from its loan to Core Scientific
Last week, the fledgling US-based miner Core Scientific, which has been selling most of its bitcoin throughout this year announced that it’s ready to go through bankruptcy proceedings with creditors a...
Millions of borrowers will face ‘real trauma’ when the student loan freeze ends in a few short weeks
Millions of borrowers will face ‘real trauma’ when the student loan freeze ends in a few short weeks After nearly three years, millions of Americans will be ringing in the new year with th...
DeFi Lending Platform Built on Polygon (MATIC) Hacked for $220,000 in Flash Loan Attack
Decentralized exchange (DEX) QuickSwap is ending its lending pool after sustaining losses in a flash loan attack. The Polygon (MATIC) based DEX says $220,000 worth of tokens were stolen following an e...
Polygon-Based Decentralized Exchange Quickswap Loses $220K in Flash Loan Exploit – Defi Bitcoin News
On Monday, the Polygon-based decentralized exchange (dex) Quickswap lost $220K in a flash loan exploit and following the attack, the team detailed the Quickswap Lend platform will be terminated. Quick...
Wintermute pays off $96 million USDT TrueFi loan
According to the loan dashboard for the network, well-known bitcoin market maker Wintermute paid out its $96 million debt on the decentralized finance (DeFi) system TrueFi just over three weeks after ...
Appeals Court Blocks Biden’s Student Loan Cancellation Plan—For Now
Topline The Biden Administration’s plan to forgive many Americans’ student loans was put on hold Friday after the 8th Circuit Court of Appeals granted a request from a group of Republican attorn...
Biden Says 22 Million Have Applied For Student Loan Relief—More Than Half The Total Believed To Be Eligible
Topline President Joe Biden said Friday that 22 million Americans applied for federal student loan relief during the first full week the debt forgiveness application was online, as his administration ...
Collapsed crypto exchange ACX used $20M of customers fund for business loan
Investigation into activities of collapsed crypto exchange ACX reveals that it used over $20 million of customer funds as loan support for its parent company Blockchain Global, Sydney Herald reports. ...
Biden’s Student Loan Forgiveness Gets Greenlight As Judge Rules Against GOP Challenge
Topline Federal student loan forgiveness will continue rolling out this month as planned, as a federal judge rejected Thursday an attempt by Republican-led states to block the policy because they beli...
Supreme Court Will Not Block Biden’s Student Loan Forgiveness
Topline A request for the Supreme Court to block President Joe Biden’s plan for broad federal student loan debt cancellation was rejected Wednesday, in a major blow to the highest-profile legal ...
Crypto Lender Voyager Settles With Executives Who Approved $935,000,000 Loan to Three Arrows Capital: Report
Voyager Digital is deciding not to pursue legal action against company executives who green-lighted the sizable loan contributing to the demise of the crypto lending platform. The troubled firm filed ...
Group Asks Supreme Court To Halt Biden’s Student Loan Forgiveness Plan
Topline A Wisconsin taxpayers association asked the Supreme Court Wednesday to block the White House’s student loan forgiveness program before funds start rolling out to borrowers later this month, on...
5 red flags to spot student loan forgiveness application scams
Win-initiative/neleman | Stone | Getty Images The Biden administration officially launched the application for federal student loan forgiveness on Monday — and scammers are already “on the move&...
Student Loan Relief Sign Up Officially Launches—Here’s How To Apply
Topline The Department of Education on Monday officially launched the application process for its long-awaited one-time federal student debt forgiveness program—and many borrowers eligible to apply co...
Student loan forgiveness applications are now open — here’s what borrowers need to know to get their relief
Student loan forgiveness applications are now open — here’s what borrowers need to know to get their relief Borrowers can now start applying online for relief under President Biden’s student loa...
‘Emily the Criminal’ director Ford takes on student loan crisis
Emily the Criminal Courtesy: John Patton Ford In the new film “Emily the Criminal,” the title character, played by actress Aubrey Plaza, is almost always in a state of fear. There are mome...
Bank of America Stock Leaps On Q3 Earnings Beat, Solid Loan Growth
Updated at 9:33 am EST Bank of America (BAC) posted better-than-expected third quarter earnings Monday, with solid net interest income gains offsetting the impact of big jump in provisions for bad l...
You get some student loan debt erased, but what about the rest of it?
“January is going to be here before you know it,” says Damian Dunn, a certified financial planner and vice president of corporate financial wellness platform Your Money Line. Payments resume in Januar...
Wintermute repays $92M TrueFi loan on time despite suffering $160M hack
When Wintermute, a cryptocurrency market maker, lost $160 million due to a hack, concerns related to the repayment of debt worth $189.4 million surfaced. However, in an exciting turn of events, Winter...
Loan loss reserves will be ‘a drag on overall bank earnings,’ JPM strategist says
U.S. banks are poised for another lackluster earnings season as market turmoil dries up dealmaking activity, but lower investment banking revenues aren’t the only culprit of this year’s shrinking prof...
Mortgage rate is over 7% and it’s getting harder to qualify for loan
JB Reed | Bloomberg | Getty Images It’s a double whammy for would-be homebuyers. Not only are interest rates soaring, it’s getting harder to qualify for a loan. The average rate on the pop...
Bitcoin miner TeraWulf raises $17 million as it ramps up infrastructure build-out
Bitcoin miner TeraWulf raised $17 million in equity and debt. The company sold $9.5 million in common stock shares via a non-brokered deal with existing investors and drew an additional $7.5 million f...