Jupiter Lend’s $414 Million USDC Vault Still Has Almost Nothing Free to Withdraw
By Unchained
AI summary of the source article
Solana lending protocol Jupiter Lend experienced a liquidity crunch impacting withdrawals on Friday. Its roughly 413.7 million USDC vault showed almost nothing available to withdraw, which the protocol attributed to broader market conditions while stating all funds are safe.
Key facts
- Jupiter Lend's USDC vault, holding roughly 413.7 million USDC, had only single-digit USDC available to withdraw on Friday afternoon.
- Jupiter Earn stated that all funds are safe and that the protocol is functioning as expected during the liquidity crunch.
- Jupiter Lend stated it has no exposure to Binance following an estimated $6.3 billion drain from Binance hot wallets.
Source excerpt · Unchained
Jupiter blames broader market conditions and says cash will free up as loans are paid down or fresh money comes in, but it has given no timeline. The post Jupiter Lend’s $414 Million USDC Vault Still Has Almost Nothing Free to Withdraw appeared first on Unchained .