BlackRock's $26 billion private credit fund restricts redemptions, potentially triggering a chain reaction in risky assets and the crypto market.

CoinFeed reported on March 7th that, according to CoinDesk, a BlackRock private lending fund with approximately $26 billion in assets under management has begun restricting withdrawals due to rising redemption requests, raising concerns about the spillover of pressure from the global private lending market. Analysts warn that the risk could also be transmitted directly on-chain. Data shows that the current scale of on-chain private lending is approaching $5 billion, mainly entering DeFi in the form of RWA tokens. If the underlying credit assets experience impairment or default, the net asset value fluctuations of the related tokens could trigger liquidations or liquidity tightening, thereby transmitting traditional credit pressure to the DeFi ecosystem.