Orthogonal Credit, an arm of the digital asset hedge fund Orthogonal Trading, disclosed on Nov. 9 that it pushed to close Alameda Research’s dedicated borrower pool on Maple Finance in the second quarter of 2022 after identifying “key weaknesses” in its due diligence.
The company announced on Twitter that it had identified a number of key weaknesses while conducting due diligence earlier this year — specifically, declining asset quality and unclear capital policy, among other factors.