#finance

Loans were issued against mining equipment. The creditor has about 68,000 of them, as of today. The company started selling last year. Unfortunately, some loans have already been declared default. The average price of BlockFi's credit ASIC miner is $2,350 and ASIC's current market value is $1,400. The total companies' debt to the industry in similar loans is estimated at $4 billion. Apart from BlockFi, loans were also issued to NYDIG, Celsius Network, Foundry, Babel Finance, and Galaxy Digital.

Lending protocol Everlend Finance has announced that it has ceased operations. The reason is simple: a lack of liquidity. The codebase is left open-sourced by the developers so that others can continue working on the project. However, the team also maintains that Everlend is a fantastic product that will eventually be very convenient, and that Solana is the most effective network for its implementation. The app is now in withdrawal-only mode