Compound's outstanding debt on Ethereum hits $1 billion

The Block • July 17, 2023, 7:08PM EDT
The Block

Quick Take

Decentralized lending protocol Compound's outstanding debt on Ethereum surpassed $1 billion-- the highest it has been in a year, according to The Block's data dashboard. 

The increase in outstanding debt represents a shift in the crypto market, which was hammered by a credit crisis in 2022. Across the board lenders from BlockFi to Celsius declared bankruptcy, resulting in a gap in crypto's market structure. On July 14, outstanding debt stood at $1.07 billion. 

Compound is a money market protocol where users can borrow and lend assets. Interest rates are determined algorithmically. COMP token holders govern the Compound protocol. 

 


© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

AUTHOR

Frank Chaparro profile picture Frank Chaparro

Frank Chaparro is Host of The Scoop podcast and Director of Special Projects. He also writes a biweekly newsletter. Chaparro started his career at Business Insider, where he specialized in the intersection of digital assets and Wall Street, market structure, and financial technology. Soon after joining Business Insider out of Fordham University, Chaparro was interviewing top finance and tech executives, including billionaire Mark Cuban, “Flash Boys” star Brad Katsuyama, Cboe Global Markets CEO Ed Tilly, and New York Stock Exchange President Tom Farley. In 2018, he become a sought after reporter in the crypto world, interviewing luminaries such as Tyler Winklevoss, the cofounder of Gemini, Jeremy Allaire, the CEO of Circle, and Fundstrat head Tom Lee. For inquiries or tips, email [email protected].

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