Former Cred executives plead guilty to wire fraud

Defunct crypto lending platform Cred’s former executives, CEO Daniel Schatt and CFO Joseph Podulka, have pleaded guilty to wire fraud charges, according to a California court filing cited by Cointelegraph. The executives admitted to intentionally minimizing and concealing the company's financial difficulties while selectively presenting investors with positive information to attract customer assets. Schatt and Podulka are scheduled to be sentenced on Aug. 26.