Goldfinch winding down. I was skeptical about the operating model especially applied to emerging markets. This doesn't mean that undercollateralized onchain lending doesn't work, its a great learning, new underwriters will step in with better models.

Goldfinch (GFI)
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a16z-BACKED RWA STARTUP GOLDFINCH FINANCE TO WIND DOWN
Goldfinch Finance is shuttering after originating $100M in loans. The governance vote on the wind-down is set to pass on June 23. Depositors face 2+ year recovery as $GFI trades 99.8% below its 2022 peak.
Read more here:
https://t.co/C3VmjGhxhu
$GFI is 99.8% below its Jan 2022 ATH. a16z and Coinbase Ventures backed this. 100M in loans originated, 56M still stuck onchain, depositors recovering 30 cents on the dollar after 3 years. Governance vote passing 100% to shut it down.
a16z-BACKED RWA STARTUP GOLDFINCH FINANCE TO WIND DOWN
Goldfinch Finance is shuttering after originating $100M in loans. The governance vote on the wind-down is set to pass on June 23. Depositors face 2+ year recovery as $GFI trades 99.8% below its 2022 peak.
Read more here:
https://t.co/C3VmjGhxhu
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