Solend Accrues $6 Million in Bad Debt After Sharp Fall in $SOL Price

Solana-based lending protocol Solend has accrued a bad debt of more than $6 million after a sharp fall in the price of $SOL (down about 50% in the last three days).

Solend said that the bad debt in the main pool will be covered by the treasury. According to SolanaFM data, the treasury address holds worth about $33 million in total assets.