Crypto venture giant Three Arrows was liquidated by BlockFi and 3 others


Three Arrows, a huge crypto venture capital and fundraiser, was liquidated by BlockFi and other top crypto lending firms after failing to complete its loan collateral.

Despite the CEO not naming the client, his tweet came after a Financial Times article claimed that BlockFi was among the companies that liquidated at least some of 3AC’s assets.

Following allegations that struggling crypto hedge fund Three Arrows Capital failed to respond to margin calls, crypto lender BlockFi admitted on Thursday that it had liquidated a “major client.”

CEO Zac Prince tweeted: “Recently we used our best business judgment with a major client who defaulted on an oversized margin loan.” “We have fully accelerated the loan and liquidated or covered all collateral.”

According to reports, Three Arrows Capital is approaching insolvency with the liquidation of at least US$400 million.

ALSO READ – BNB Chain Got A Major Upgrade By Ankr Coin

About BlockFi?

BlockFi is a legit company that accepts investors from all over the world.

BlockFi is a cryptocurrency exchange and wallet that works with consumers and businesses around the world. It has an interest-bearing account, portfolio-backed loans, and no trading fees.

BlockFi is a cryptocurrency wallet and lending platform that allows users to buy, sell, store, borrow, and earn interest on digital assets.

You can fund your account with USD, crypto or stablecoins, just like most of the biggest cryptocurrency exchanges. You can withdraw your assets at any time; however, you are limited to one free withdrawal per month.

Gemini Trust, which is regulated by the New York Department of Financial Services, holds the money at BlockFi.

Loans offered by BlockFi may be worth investigating. There are alternative platforms that offer similar trading services and greater availability if you are looking for a place to buy, sell, and trade a wide selection of crypto assets without using these features.

Additionally, BlockFi members can use the BlockFi Incentives credit card to collect bitcoin rewards.

Steve Anderson
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