3AC Borrowed and Repaid More Than $2B from Blockchain.com Before Outstanding Debt

Jul 20,2022
KingData News: Three Arrows Capital (3AC) borrowed and repaid more than $2 billion from crypto services firm Blockchain.com over the span of almost four years before its bankruptcy, documents seen by The Block show. The affidavit shows that Blockchain.com and 3AC signed a master loan agreement (MLA) effective June 13, 2019. Blockchain.com sent 3AC a demand notice for its outstanding loans on June 14, and 3AC defaulted on its payments after failing to meet a June 16 deadline. The affidavit mentions that while 3AC had made partial loan repayments to Blockchain.com, the unpaid amounts are "substantial."
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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