BlockFi—a cryptocurrency lending platform, announced on Twitter that it had to liquidate a big client despite the fact that it was one of its best business judgments.
The lending platform came to this decision to mitigate risks associated with contracts that include particular counterparties.
BlockFi is one of several firms that were part of Three Arrows Capital’s insolvency (3AC). Three Arrows, one of the biggest and most prominent players in the space, is now looking for someone to bail it out.