BlockFi reportedly among firms that liquidated Three Arrows Capital


 95 total views

Latest report about Singapore-based crypto hedge fund Three Arrows Capital (3AC) notes that the venture firm has not met margin calls from lenders.

The news looks to spell more gloom for the firm, which has dominated headlines across the market amid the crypto downturn.

Are you looking for fast-news, hot-tips and market analysis?

Sign-up for the Invezz newsletter, today.

BlockFi liquidated a large client

On Thursday, a report by the Financial Times indicated that 3AC was indeed liquidated by crypto lender BlockFi. Per the publication, 3AC took out a Bitcoin credit facility from BlockFi, but did not meet margin calls on the same as the market slump sent prices nosediving.

BlockFi CEO Zac Prince appeared to confirm the FT report, noting on Twitter that the lender had “exercised [its] best business judgment recently with a large client.”   Although he did not name the client, he noted that the party had failed to meet their obligations on a margin loan.

We fully accelerated the loan and fully liquidated or hedged all the associated collateral.”

Apparently, 3AC’s liquidations were around $400 million, with losses recorded elsewhere compounding the bleak outlook for the firm.

Earlier this week co-founder Zhu Su appeared to acknowledge that the firm was in trouble, noting in a tweet that the company was “communicating with relevant parties and fully committed to working this out.”

Invest in crypto, stocks, ETFs & more in minutes with our preferred broker,


75.26% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Adblock test (Why?)

Disclaimer: does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor can this article be considered as investment advice or recommendations. Every investment and trading move involves risk, you should conduct your own research when making a decision.