Finblox Imposes $1.5K Monthly Withdrawal Limit Amid Three Arrows Capital Uncertainty

Jun 17,2022
KingData News: Crypto staking and yield generation platform Finblox has imposed a $1,500 monthly withdrawal limit and paused rewards in light of uncertainty surrounding crypto hedge fund Three Arrows Capital, which made a $3.6 million investment in the Hong Kong-based platform last December. According to a statement shared on Twitter, Finblox has made the changes as it evaluates the impact of Three Arrow Capital's reported issues. "We have been cooperating with over eight partners and protocols, including Three Arrows Capital, to generate yields and spread the risk as evenly as possible," the Finblox statement read. "Finblox will do everything in its power to protect users' funds and reinstate our services in full," it added. The Finblox website states that it offers "peace of mind with $45M insurance on assets." (CoinDesk)
On June 13, Zhu Su, co-founder of Three Arrows Capital, has removed ETH, AVAX, LUNA, SOL, NEAR, MINA and other Tokens from his Twitter profile. On June 15, sources revealed that the total liquidation amount of Three Arrows Capital on Deribit, BlockFi and other lending platforms was up to $400 million. This indicator provides a real-time tracking of news reports on Three Arrows Capital's liquidity crisis.
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