Cryptoknowmics
2022-12-28 06:49:57

Midas Crypto Investments Closing Down Network Owing Losses

According to a blog article from CEO and owner Iakov “Trevor” Levin, Midas Investments, an investment company that concentrated on DeFi yields, is closing its platform as a result of large losses sustained in 2022. The Drop in the DeFi Portfolio of Midas Investments Levin stated that the Midas DeFi portfolio dropped $50 million, or 20% of its $250 million in assets under management (AUM), this past spring. Furthermore, its network had over 60% of AUM removed after the failure of Celsius and FTX. Levin stated that the investment firm made the tough choice to terminate the platform based on The post Midas Crypto Investments Closing Down Network Owing Losses appeared first on Cryptoknowmics-Crypto News and Media Platform .

Get Crypto Newsletter
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.