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Popular crypto lending platform shuts down amid market pressures
Crypto lending began gaining traction around the 2020-2021 bull market. The idea of borrowing or lending against cryptocurrency with speed and accessibility that traditional finance couldn't guarantee increased its appeal. Among the many early entrants in the space was ZeroLend, a multi-chain decentralized crypto lending protocol. It is built on zkSync, a Layer-2 (L2) scaling protocol for Ethereum (ETH). But today it has announced it will wind down operations, citing sustainability challenges and prolonged operating losses. The closure adds to a growing list of DeFi lending platforms that have struggled to maintain ... (full story)
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