MarginFi CEO Resigns Amid Internal Disagreements and $100 Million Capital Flight
MarginFi's CEO, Edgar Pavlovsky, has resigned due to internal disagreements, resulting in $100 million in capital flight. However, the borrow-and-lend functions of MarginFi remain unaffected. MarginFi has faced criticism for not rewarding users with a token for earning points, and Solend has announced an airdrop to MarginFi users who move their money to Solend and keep it there. Despite experiencing $80 million in withdrawals, Kamino saw $51 million in deposits, its third largest day of inflows ever. MarginFi has not revealed when or if it will launch a governance token, but the departure of Pavlovsky will not affect mtnDAO, a coworking event hosted by MarginFi and Cypher.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Elon Musk sets a Diablo 4 global record
Share link:In this post: Elon Musk potentially ranks no. 1 in Atificer’s Pit challenge. He has timed his win at 1:52 beating the current record of 1:59. Elon Musk’s recent ranking has not yet appeared on the leaderboard.
SEC edges closer to Solana ETF approval amid political shifts
Share link:In this post: Solana exchange-traded funds may arrive on Wall Street very soon. SEC is in talks with issuers about approving a Solana ETF. SEC Chair Gary Gensler’s announcement that he would resign on January 20, 2025, aligns with the possibility of a pro-crypto administration taking office.
BoxBet Secures Strategic Funds To Build Future of iGaming
FTX to Begin Paying Creditors and Customers by Early 2025
Trending news
MoreCrypto prices
More
