A number of institutional crypto borrowers have increased their credit pools on the Clearpool unsecured lending protocol due to growing concerns related to the liquidity of Alameda Research, which could potentially spread to crypto lenders. Clearpool borrowers have no collateral obligation, and their credit limits are secured by reputation and perceived financial position.
Amber Group, Auros, LedgerPrime, Folkvang and Nibbio received a warning in their pools on Clearpool due to some of them reaching 99% of the limit of the maximum loan amount available under the protocol. According to Clearpool, the current amount of debt in total is $14.8 million.
The global crypto community is experiencing concerns today, as the growing financial problems of Alameda Research could potentially cause a liquidity crisis in the global digital asset market. Earlier this year, similar force majeure events, such as the collapse of the Terra blockchain network or the Three Arrows Capital hedge fund, significantly negatively affected the crypto markets.
Recall that Alameda Research is a subsidiary of the FTX crypto exchange, which on Tuesday decided to rescue the management of the Binance exchange from the current situation.