Monday it had severed ties with Orthogonal Trading after the firm failed to make a $10 million payment that was due, triggering defaults across all of its debt within lending pools for the stablecoin USDC and wrapped ether . Maple said Orthogonal Trading had misrepresented its exposure to Sam Bankman-Fried’s collapsed FTX exchange. Now, officials with Orthogonal Credit have come forward with a Medium post claimingare adding to their roughly 50% decline since the FTX collapse, falling another 6.
late Monday evening, asked Silvergate for answers to its supposed role in facilitating transfers between bankrupt exchange FTX and its sister firm, Alameda Research.. The Nasdaq Composite and S&P 500 closed down 2% and 1.44%, respectively, while the Dow Jones Industrial Average sank 1.03% as investors weighed the U.S. central bank’s likely 50 basis point interest rate hike at its next Federal Open Market Committee meeting on Dec. 14.
_jocelynyang_ Grayscale cannot do a redemption plan without SEC approval. Conversion into Spot BTC ETF allows redemptions, so preventing it does the opposite of what Fir Tree says it wants. GBTC was fully transparent about fees & Fir Tree should have never bought GBTC if it didn't agree.