For anyone who has heard about the news, Cred has filed for Chapter 11 bankruptcy. Cred was the first de-fi lending platform that had regulatory approval in certain states and this situation is bad news for de-fi in general. They were known to have been run by a top notch team of industry experts and even claimed to have the most comprehensive insurance in the industry.Nevertheless, they have declared bankruptcy and the community is in a state of anger and shock with regards to how to proceed because the company won't say anything about if our funds can even be returned. There is an unofficial Telegram group (can't seem to post links here) and our struggle right now is in finding the right lawyer and leadership to represent us in a possible class action lawsuit in order to assist with recovery of funds. We require international representation as Cred's customers are from all around the globe.Does anyone have any suggestions on how to proceed? Any lawyers from firms with experience in this space that care to reach out?Help would be greatly appreciated. Thanks!
Submitted November 09, 2020 at 09:22AM
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