Blockchain.com could lose $ 270 million on its 3AC loans
Blockchain.com, a popular cryptocurrency exchange, could end up losing $ 270 million on its loans to Three Arrows Capital (3AC).
3AC searched Chapter 15 for the bearish turbulence in the cryptocurrency markets. Peter Smith, CEO of Blockchain.com (CEO) revealed the loss of 270 million dollars (approx.) In a latter to shareholders according to Reuters: “Three Arrows is rapidly becoming insolvent and the standard effect is about 270 million dollars worth of cryptocurrency and US dollar loans from Blockchain.com. “
Smith added that the company is exploring various methods to recover from the loss.
Sun and CZ to the rescue
Justin Sun, the founder of TRON DAO (formerly known as the TRON Foundation) said that he as well as TRON are prepared to help crypto companies that are struggling.
Sun and TRON are willing to spend up to $ 5 billion on rescuing companies in the crypto industry. He also revealed that TRON has approached an investment bank (name not disclosed) to help them with future agreements.
The main interest is companies with a large user base within CeFi and DeFi platforms.
Binance is also active in rescuing companies. Towards the end of June 2022, it was suggested that at least 50 struggling companies turn to CZ for help.
In a podcast for Decrypt, CZ indicated that Binance is looking at a high number of deals:
“Many companies lack money, that does not mean most of them are bad companies … some companies make less mistakes the first time they go through a bear market, they have good products, good teams, so we just have to help you out a little. .
“And the things we are completely willing to do. And we look at a high number of such agreements … And some of them are actually good agreements. So I think you will see that we will invest and save, save more projects . “
KuCoin chief denies rumors about social media
There was speculation stemming from an anonymous twitter account that KuCoin may be the next stock exchange to become insolvent. KuCoin’s CEO was forced to respond, denying the rumors.
He added that KuCoin raised $ 150 million in May with a valuation of $ 10 billion, KuCoin is among several companies that continue to hire and launch new products in a bear market.
The H1 report for 2022 shall be transparent and shed light on the company’s activities.
Blockchain.com, a popular cryptocurrency exchange, could end up losing $ 270 million on its loans to Three Arrows Capital (3AC).
3AC searched Chapter 15 for the bearish turbulence in the cryptocurrency markets. Peter Smith, CEO of Blockchain.com (CEO) revealed the loss of 270 million dollars (approx.) In a latter to shareholders according to Reuters: “Three Arrows is rapidly becoming insolvent and the standard effect is about 270 million dollars worth of cryptocurrency and US dollar loans from Blockchain.com. “
Smith added that the company is exploring various methods to recover from the loss.
Sun and CZ to the rescue
Justin Sun, the founder of TRON DAO (formerly known as the TRON Foundation) said that he as well as TRON are prepared to help crypto companies that are struggling.
Sun and TRON are willing to spend up to $ 5 billion on rescuing companies in the crypto industry. He also revealed that TRON has approached an investment bank (name not disclosed) to help them with future agreements.
The main interest is companies with a large user base within CeFi and DeFi platforms.
Binance is also active in rescuing companies. Towards the end of June 2022, it was suggested that at least 50 struggling companies turn to CZ for help.
In a podcast for Decrypt, CZ indicated that Binance is looking at a high number of deals:
“Many companies lack money, that does not mean most of them are bad companies … some companies make less mistakes the first time they go through a bear market, they have good products, good teams, so we just have to help you out a little. .
“And the things we are completely willing to do. And we look at a high number of such agreements … And some of them are actually good agreements. So I think you will see that we will invest and save, save more projects . “
KuCoin chief denies rumors about social media
There was speculation stemming from an anonymous twitter account that KuCoin may be the next stock exchange to become insolvent. KuCoin’s CEO was forced to respond, denying the rumors.
He added that KuCoin raised $ 150 million in May with a valuation of $ 10 billion, KuCoin is among several companies that continue to hire and launch new products in a bear market.
The H1 report for 2022 shall be transparent and shed light on the company’s activities.
