Categories: FintTechMenafn

Maple Finance Calls Out Orthogonal Trading After $36 Million Loan Default

Summary:

  • Maple’s Monday statement said that Orthogonal Trading defaulted on eight loans worth around $36 million.
  • The loans were tied to two pools operated by Mavens M11 credit.
  • Maple founder Sid Powell expressed shock and disappointment due to the incident.

DeFi lending protocol Maple Finance severed ties with trading outfit Orthogonal Trading after the latter defaulted on eight loans worth $36 million. The lending protocol released a statement on Monday to inform the community of the decision.

According to the official announcement, Orthogonal’s loan accounted for 30% of all active loans on Maple’s crypto lending platform. The defaulted loans affected two liquidity pools – M11 USDC pool and M11 WETH pool.

Around $31 million of the defaulted loans were borrowed from the M11 USDC pool, per reports. A spokesperson for the DeFi lender told The Block that the incident could affect approximately 80% of the investors left in the pool. The loans taken from the M11 WETH pool were worth around $5 million. 

Orthogonal Trading was a key member of Maple’s ecosystem prior to Monday’s incident. The firm’s trading division offered loans to the platform’s users and operated a USDC lending pool with over $850 million in loans at press time.

Maple Finance Founder disappointed

Monday’s statement said the “decision to cut the relationship with the Orthogonal Credit team is not taken lightly”. Sid Powell, founder of Maple Finance, also expressed shock and disappointment at the development. 

Maple will not work with bad actors or with firms that misrepresent their financials or business operations. We are shocked and disappointed in the behavior of others and this is not a representation of how we do business.

Ryan Helton

A Stock enthusiast since childhood, Ryan is known for his impeccable knowledge in the technology and gadgets niche. He has been working with eTrendy Stock as a contributor for most stock category and his articles are always well-researched and accurate.

Recent Posts

Mubite Officially Launches as a Global Leader in Crypto Prop Trading

Prague, Czech Republic, October 6, 2025, ZEX PR WIRE— The future of funded crypto trading…

10 hours ago

CZ Effect: Binance Lists Aster (ASTER) With Seed Tag After Weeks Of Hype

Aster’s native token, ASTER, has ridden a powerful endorsement cycle after Changpeng “CZ” Zhao publicly…

16 hours ago

Verto Establishes DIFC Hub to Enable Faster, Smarter B2B Payments Across Africa and Emerging Markets

UAE now has a payment partner that unlocks Africa’s growing economic opportunity DUBAI, UAE, 6…

21 hours ago

Guinness World Records Attempt in Forex Industry is announced

Dubai, UAE, 5th October, 2025, ZEX PR WIRE, Forex Expo Dubai, the Middle East’s largest…

21 hours ago

Reliable Airport Taxi Service: Guaranteed Pickups, No Delays

London, England, 5th October 2025, ZEX PR WIRE, In today’s travel landscape, reliability has become…

1 day ago

Forex Expo Dubai 2025 Conference to Feature 150+ Global FX and Fintech Leaders

Part of the region’s largest forex and fintech gathering, the two-day conference on 6–7 October…

3 days ago