20 sats \ 0 replies \ @k00b 4 Jul

Man, they keep coming.

CoinLoan is probably the only company unaffected by the controversies of stETH, Luna/UST, Three Arrows Capital, and DeFi protocol issues. The reason is simple – our strategy bars risky activities that could endanger CoinLoaners’ funds.

Yet, like any company, we must take notice of the market. The turmoil caused by the issues at several of its participants (BlockFi, Celsius, Voyager, and others) is impacting the whole industry. One of the consequences is a spike in withdrawals of assets from CoinLoan.

We are introducing a temporary measure – a reduction of the account withdrawal limit – in order to balance the flows of funds and prevent liquidity-related interruptions. Please note that this is only a precaution, as the current level of liquidity meets our users’ needs.