Last year was the year of CeFi collapses. While detrimental, investigations are shedding a light on CeFi's (not DeFi's) lack of transparency.
The world watched as seemingly invincible giants in the ecosystem crashed and burned — each one filing for bankruptcy and facing endless lawsuits that rage on.
Celsius, one of the largest crypto lenders, shut its doors to the public over the weekend, citing the dangers of market volatility and defi scams.
Celsius CEO Alex Mashinsky resigned on Tuesday, three months after the crypto lending scheme lost investors billions.
The news this week was dominated by the crypto crash as we heard about layoffs at Coinbase, problems at Celsius and a continued downturn in crypto prices. There was plenty of BNPL news as well.
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