TrueFi: A notice of default has been issued to the encryption investment company Blockwater, which is still in arrears of nearly $3 million so far

TrueFi, an unsecured lending agreement, issued a notice of default saying that South Korean encryption investment company Blockwater defaulted on its loans of about $3.4 million, accounting for about 2% of the total value of TrueFi’s outstanding loans. A loan amendment to increase the borrowing rate and extend the maturity date. To date, Blockwater has completed 8 payments totaling $645,405 to repay the loan. At the time of default, $2,967,458 was still due. Further information will be provided to the TrueFi community. Any action requested by the TrueFi DAO will be subject to votes and approval by token holders.