$20M DeFi Loan Goes Sour After Borrower's Investments Fail
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A $20M loan on DeFi platform Goldfinch has gone sour after borrower Stratos' investments failed to perform as expected.
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Stratos allocated $5M to real estate tech firm REZI, now expected to be a total loss, and $2M to unspecified "digital asset investments".
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Pool manager Warbler Labs says it will backstop all losses to investors in the pool.
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Highlights risks of tokenized real-world asset lending that has become popular in crypto industry.
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Second troubled loan on Goldfinch this year after previous borrower Tugende defaulted on a $5M loan.