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NFT Lending Protocol Bend DAO Proposes New Measures against Bankruptcy Crisis

Subject to the bankruptcy crisis caused by depleted Ethereum reserves, NFT lending protocol Bend DAO has proposed new emergency measures pending a governance vote. The NFT lending protocol provides asset collateral for NFT holders by using their NFT assets as collateral to borrow ETH. When someone deposits an NFT into BendDAO, they can borrow up …

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Celsius Spent Over $40m on Crypto Mining in First Two Weeks after Bankruptcy

Celsius Network LLC used more than $40 million in cash on its startup mining operation in the first two weeks after filing for bankruptcy, according to a report from the Wall Street Journal (WSJ). The report stated that Finance Chief Chris Ferraro had announced at a meeting with creditors on Aug 19, 2022. In response …

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