The CreamFinance lending platform incurs $ 1.3 million in bad debt due to the SWAG token collapse.

According to CryptoBriefing, Swag Finance's SWAG token fell this week, raising $ 1.3 million in bad debts on the Cream Finance lending platform. The Bank of Crimea held $ 1.3 million in USDC and USDT debt, but when the SWAG collapsed, the debt was not included. The pool's total investment has been reduced from $ 18.1 million to $ 10,000, which means it does not have enough funds to reimburse its suppliers. As a result, the Cream Cream Group confirmed that loans to SWAG were postponed until November 2020. Some long-term loans were guaranteed before recent delays had been reached in the past. Cream Financial also guarantees that the storage space will pay for SWAG loans.