TALG's Partner Scott Halberstadt recently commented on the ripple effect created by FTX Trading Ltd.'s collapse, with its knock-on effect resulting in the failures of various cryptocurrencies worldwide.
Not long after FTX's demise, a firm they had credited, Crypto lender Block FI, had to borrow further loans to stay afloat. Which later had its license revoked for what the DFPI has announced as violating 'California financing laws and regulations, including failing to consider a borrower's ability to repay those loans.'
These recent failings within the crypto market have broken down confidence within the sector and serious rebuilding of trust will be vital in staving off a lengthened 'Crypto Winter'.
To read more, visit TALG's website - https://talglaw.com/blockfi-financing-license-revocation/
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