Blockchain.com, one of the cryptocurrency exchanges, due to its loans to Three Arrows Capital 270 million dollars in harm.
According to information shared with the shareholders of the company by Peter Smith, CEO of Blockchain.com, Three Arrows Capital cryptocurrencies and dollars due to debts $270 million they face a loss.
Until just a few months ago billions of dollars After the fluctuations in the market, Three Arrows Capital, which manages assets worth unable to pay its debts came. So in the Virgin Islands for Three Arrows Capital liquidation order given.
Collaboration between Blockchain.com and Three Arrows Capital four years ago stretches up. According to Smith’s statements, Three Arrows Capital from Blockchain.com throughout this process. Borrowed more than $700 million worth and this repaid his debt.
Blockchain.com is among companies struggling to get Three Arrows Capital to go into liquidation. According to Bloomberg News, Smith is the owner of Three Arrows Capital. “defrauding the crypto industry” and they say they will take legal action against the company.
Blockchain.co, which was founded in 2011 and is one of the longest-running initiatives in the crypto industry, despite a loss of $ 270 million in financial difficulty it doesn’t appear. According to Smith’s statements, this damage will not affect Blockchain.com customers.