Crypto Exchange Blockchain.com Faces $270M Hit on Loans to Three Arrows Capital
Jul 08,2022,15:24
Cryptocurrency exchange Blockchain.com stands to lose $270 million from lending to Three Arrows Capital, the over-leveraged hedge fund now subject to a liquidation order in the British Virgin Islands.
Blockchain.com CEO Peter Smith said that Three Arrows Capital has borrowed and repaid more than $700 million worth of cryptocurrency in the four years the firm has been Blockchain.com's counterparty. Blockchain.com is said to remain liquid and solvent, and its customers will not be impacted.
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