Blockchain.com faces a $270 million loss from their loan to Three Arrows Capital
Crypto exchange Blockchain.com announced in a letter to shareholders that they could lose the $270 million in cryptocurrency and USD they loaned to Three Arrows Capital, a now-insolvent crypto fund that is pursuing bankruptcy. The ripple effects of the 3AC implosion have been felt throughout the crypto ecosystem, contributing to liquidity issues and the outright failure of some other platforms. Blockchain.com assured customers that they would not be one of those platforms, writing that the company "remains liquid, solvent and our customers will not be impacted", but they also would not be the first crypto company in recent weeks to assure customers that everything is fine shortly before being forced to reveal that everything is not fine at all.