Orthogonal Trading was due to pay back a $10 million USDC stablecoin loan on Dec. 4.: Crypto hedge fund Orthogonal Trading appears to be the next firm becoming insolvent after crypto exchange FTX's implosion. (Tom Wilson/Unsplash) Krisztian Sandor is a reporter on the U.S. markets team focusing on stablecoins and institutional investment. He holds BTC and ETH. Maple Finance, a big blockchain-based lending platform, severed ties with crypto firm Orthogonal Trading, alleging that it was "misrepresenting its financial position."