SOL - Solana DeFi Protocol MarginFi Experiences $214 Million Withdrawal After CEO Edgar Pavlovsky Steps Down | Benzinga
In the wake of its CEO’s resignation, Marginfi, a decentralized lending protocol on Solana (CRYPTO: SOL), has seen a substantial withdrawal of funds, totaling over $214 million.
What Happened: Edgar Pavlovsky, the founder and CEO of Marginfi, decided to step down due to internal disagreements and controversy. MarginFi confirmed Pavlovsky’s departure, citing a combination of personal reasons and internal operational conflicts, reported Decrypt.
It is with mixed emotions that we confirm @edgarpavlovsky's resignation from @mrgngroup, contributing to marginfi. — marginfi ◼️ (@marginfi) April 10, 2024
We want to assure the community that the core contributors, the company, and our investors are actively engaged to ensure a smooth transition.
As of this…
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Following his resignation, MarginFi witnessed a significant outflow of funds, with ...