Will blockchain com lose $270 million from lending to three arrows capital?

Blockchain.com “remains liquid, solvent and our customers will not be impacted,” wrote CEO Peter Smith in a letter to shareholders. Cryptocurrency exchange Blockchain.com stands to lose $270 million from lending to Three Arrows Capital, the over-leveraged hedge fund now the subject to a liquidation order in the British Virgin Islands.

Is three arrows capital insolvent?

Blockchain.com CEO Peter Smith said in a letter to shareholders that Three Arrows Capital ( 3AC ), the over-leveraged hedge fund that is now subject to a liquidation, "is rapidly becoming insolvent and the default impact is approximately [USD] 270 million worth of cryptocurrency and US dollar loans from Blockchain.com," according to Coindesk.

What happened to blockchain?

Blockchain.com’s CEO has revealed that the company faces a $270 million loss on loans to the Three Arrows Capital hedge fund. However, he states that the company remains liquid and solvent, and its customer will not be affected by the loss.

Is three arrows capital investigating a crypto hedge fund?

Blockchain.com, a creditor of Three Arrows Capital, said it is cooperating with ongoing investigations into the troubled crypto hedge fund.