RATE Group | Cryptocurrency Lender Dharma to Postpone Accepting New Deposits and Loans
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Cryptocurrency Lender Dharma to Postpone Accepting New Deposits and Loans

08 Aug Cryptocurrency Lender Dharma to Postpone Accepting New Deposits and Loans

Posted at 00:06h in Cryptocurrency News by

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San Francisco-based crypto lender Dharma has decided to pause new deposits and loans on its platform. 

Dharma announced their decision in a series of official Twitter posts on Aug. 7. Their second tweet in the series reads:

“For now, we’re pausing new deposits and loans in Dharma. If you have an existing deposit or loan with Dharma, you’ll still be able to access your account and will have the option to withdraw any funds that are not currently locked up.”

While not appearing to offer any further details, Dharma assured the public in the rest of their posts that they were “hard at work” and that the “next chapter of this story is going to be exciting.”

The launch of Dharma

Dharma is a relatively young company. In February, the firm raised $7 million from investors such as Coinbase Ventures. The Block Crypto additionally specified that the funds would go toward Lever, it’s platform designed to support instant margin loans for crypto traders and high-volume investors.

The…

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