Thorchain Introduces TCY Token to Address $200 Million Debt Crisis 

Quick Summary:

Thorchain has endorsed a strategy to transform $200 million in debt into equity by issuing a new token, Thorchain Yield (TCY), in a bid to fortify its financial footing.

Thorchain Converts $200 Million Debt to Equity in Restructuring Effort On Jan.23, Thorchain suspended redemptions for its Lending and Savers programs after amassing considerable liabilities.

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Article Details

Author / Journalist: Jamie Redman

Category: Crypto

Markets: Japan

Topics: Cryptocurrency Crypto News Blockchain

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-02-03 @ 17:30:29 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: news.bitcoin.com

Language: English

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bitcoin News

News ID: 25815760

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About Bitcoin News

Main Topics: Crypto

Official Website: news.bitcoin.com

Update Frequency: 14 posts per day

Year Established: 2008

Headquarters: Japan

News Last Updated: 8 hours ago

Coverage Areas: Japan

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #62

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