According to a report published on July 8, the cryptocurrency firm Blockchain.com lost $270 million from exposure to the crypto hedge fund Three Arrows Capital (3AC). The news was shared in a recent letter to shareholders written by the company’s CEO Peter Smith. The Blockchain.com executive stressed that the firm “remains liquid, solvent and our customers will not be impacted.”
Blockchain.com Lost $270 Million From 3AC Exposure — CEO Says Company ‘Remains Liquid and Solvent’
Another crypto company has revealed losses stemming from being exposed to Three Arrows Capital Ltd. (3AC), the embattled crypto hedge fund that just recently filed Chapter 15 bankruptcy. The latest firm to feel the brunt of 3AC’s fallout is Blockchain.com, according to a report published by Coindesk, after the newsdesk reviewed a letter to shareholders written by the CEO Peter Smith.
Smith said the firm lost $270 million over the 3AC incident but stressed that Blockchain.com is financially sound. “Three Arrows...
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