Report post

Why did orthogonal trading default on $36 million FTX loan?

It has emerged that crypto firm Orthogonal Trading has defaulted on $36 million worth of loans taken on DeFi lending protocol Maple Finance. The default came after it was revealed that Orthogonal Trading’s funds had become tied up with bankrupt crypto exchange FTX.

Why did Maple finance sever ties with orthogonal trading?

The default has resulted in Maple Finance severing ties with Orthogonal Trading for misrepresenting its financial position. It has emerged that crypto firm Orthogonal Trading has defaulted on $36 million worth of loans taken on DeFi lending protocol Maple Finance.

Is orthogonal trading insolvent?

Creditor M11 Credit issued a default notice to Orthogonal Trading for $36 million of loans, while Maple Finance severed all ties with Orthogonal for misrepresenting its financial position. Crypto hedge fund Orthogonal Trading appears to be the next firm becoming insolvent after crypto exchange FTX's implosion. (Tom Wilson/Unsplash)

Related articles

The World's Leading Crypto Trading Platform

Get my welcome gifts