$100M+ in Margin Calls: Crypto Lenders Demand Collateral as Market Buckles - CoinDesk

The budding market for cryptocurrency-backed loans met its first big stress test this week as bitcoin (BTC) dropped 40 percent and lenders demanded additional collateral from borrowers.

In the last day, Genesis Capital called an additional $100 million of collateral from its selective pool of about 40 clients, CEO Michael Moro said Friday afternoon. Rival Celsius Network–which lends to 225 institutions, making up up a loan book of $400 million to $600 million at any given time–has seen margin calls in the hundreds of millions, according to CEO Alex Mashinsky. 

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