Trump's crypto advisor: The credit crisis in DeFi lending is evolving into a crypto liquidity crisis, with a high likelihood of spreading to CeFi
Jinse Finance reported that Trump's cryptocurrency advisor David Bailey stated that the credit crisis in the decentralized finance (DeFi) lending sector is evolving into a cryptocurrency liquidity crisis. If the required collateral for margin calls cannot be provided, or if hedging operations fail, there is a high possibility that risks will spread from DeFi to centralized finance (CeFi)... The second round (of crisis) may arrive on October 10. Hopefully, the situation will not escalate to this point, but caution is still necessary to avoid counterparty risk.
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