: BlockFi claimed to be among the first to take action , which helped it recover funds before other lenders. Legal and Financial Aftermath
: BlockFi CEO Zac Prince confirmed the company "fully accelerated the loan" and liquidated all associated collateral to protect its balance sheet. BlockFi Took Part in Liquidating Three Arrows: ...
: 3AC failed to meet a margin call on an overcollateralized bitcoin loan following a sharp market downturn. : BlockFi claimed to be among the first
: Reports indicated the liquidation totaled at least $400 million . : Reports indicated the liquidation totaled at least
BlockFi's involvement in liquidating Three Arrows Capital (3AC) was a proactive risk management move to mitigate losses from the hedge fund's massive defaults . As one of the first lenders to act, BlockFi fully liquidated or hedged all collateral associated with its loans to 3AC. Key Aspects of the Liquidation
: Before settling, 3AC liquidators claimed BlockFi owed them $280 million , while BlockFi asserted it was owed $129 million by the defunct hedge fund.