Crypto lending platforms faced the worst brunt of plunging values of cryptocurrency in the first half of 2022. Lenders like Voyager Digital, Vauld and Celsius faltered badly, and froze withdrawals, leaving hundreds of investors in the lurch. So, what really happens to investors’ money when these crypto firms go bust – and do they have any recourse? Watch this video to get the complete picture!
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So does not blockchain supposed to keep this from happening?
GOVT protects only till 5LAKH in banks is the biggest PONZI SCHEME ever…if one sells his property which would b in multiple lakhs or crores what is common man or old man supposed to do if he doesnt want to indulge in any financial tool??? where is the safety here after so many offices and bank employees??? biggest loan givers are banks and NPA's…only public suffers either which way. in crypto also these financial institutions wrecked the whole meaning with credit and leverage!!!
Total nonsense.
Celsius and Vault were both centralised platforms and lost investors money due to heavy leverage.
The moment the leverage backfired, who did they pay back first : the DeFi protocols which had lent them money. Why? Because by returning the loan they got back the assured 1.5 times collatoral !!! DeFi worked as promised precisely because it didn't have any centralised accountability, the assurance was hard coded.
It is the centralised finance with its old tricks of deceiving gullible investors which failed due to poor decisions of the centralised platforms.
MC explanation is totally wonky and upside down.
PLEASE HELP ME CELCUIS TOOK MY LIFE SAVINGS.
The reality is crypto is huge scam.
Does any crypto company invest in any business the money they collect millions of dollars. The truth is no it's all fake.
Is WazirX safe?
I'm new to trading. How can I make more profitable investment in crypto without incurring much losses?