Some have pointed the finger at podcaster Anthony Pompliano for recently promoting a crypto lending platform.
As crypto lending platform BlockFi filed for bankruptcy, members of the crypto community responded with mixed reactions as another platform failed during the current wild market.
Although BlockFi cited the FTX campaign as the reason for its economic filing, podcaster Matt Odell pointed to a different explanation. Odell wrote that the lending platform failed because it was lending money to high-risk clients who were playing with unnecessary leverage. “It’s an old story like Bitcoin, leverage kills, and trusted third parties are security holes,” he added. In a tweet, Mario Nawfal pointed out that BlockFi’s financial filing is something that many people in the community are looking forward to. According to Nawfal, the loan application marks the end of the era for lending to a platform that could not sustain itself after the Voyager and Celsius debacles. While many are losing money in this process, some pointed their fork at the entrepreneur and podcaster Anthony Pompliano who introduced them to the lending platform. A Twitter user said he lost most of his money after listening to Pompliano’s podcast supporting BlockFi.
Another community member said he has diversified his portfolio by investing in FTX, BlockFi, and Bitcoin BTC ($16,477), which Pompliano suggested. They said that two of the three people are gone missing.
The founder of ShapeShift Erik Voorhees also reacted to the news that the Securities and Exchange Commission (SEC) is one of the creditors of BlockFi. Voorhees floated the idea of the SEC returning the $70 million it took from BlockFi to help the users it was supposed to protect.
Meanwhile, the crypto lending platform has filed a lawsuit against Sam Bankman-Fried’s former FTX holding company called Emergent Fidelity Technologies. BlockFi expects to acquire shares of Bankman-Fried and Robinhood that were used as collateral earlier this month.
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