Guāndiǎn: Jiāmì dàikuǎn shìchǎng kāishǐ xiǎnxiàn fùsū jīxiàng 2022 nián, jiāmì dàikuǎn shìchǎng jīnglìle LUNA/UST bēngkuì,Three Arrows Capital pòchǎn hé FTX dǎobì děng zhòngdà shìjiàn, dǎozhì xǔduō z

In 2022, the crypto lending market experienced major events such as the LUNA/UST collapse, the bankruptcy of Three Arrows Capital, and the collapse of FTX, which led to the closure of many major lenders. However, this period exposed problems in the market structure and provided a blueprint for building a healthier ecosystem in the future. Craig Birchall, head of product at Membrane, pointed out that the market began to show signs of recovery in 2024. The launch of Bitcoin ETF in the United States has driven the expansion of institutional lenders. For example, Coinbase Prime's loan volume increased by 75% month-on-month in the first quarter of 2024, Ledn reported a 400% increase in institutional loans, and Membrane's loan bookings were three times that of the whole of 2023. Birchall emphasized that risk management has become a top priority, and detailed due diligence and asset verification have become standard. Over-secured loans have become mainstream, and unsecured loans are limited to well-capitalized borrowers. New entrants such as Swiss banks and traditional financial institutions are driving market development, while custodians and innovative platforms are also expanding products and tools. Birchall believes that the continued growth of the crypto lending market depends on balancing innovation with risk management to build a more robust and efficient market.