BlockFi severs ties with GBTC, its most profitable asset ever
BlockFi says it no longer invests in GBTC as a corporation at all and is merely working on settling some loans that used GBTC as collateral.
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BlockFi says it no longer invests in GBTC as a corporation at all and is merely working on settling some loans that used GBTC as collateral.
Read more (4 min) →Three Arrows was also one of the major investors in Grayscale Bitcoin Trust, last year disclosing ownership of more than 38 million shares.
Rumors that BlockFi may have lent too much bitcoin to 3AC are swirling, causing insolvency concerns among customers.
BlockFi chief exec Zac Price said despite the crazy amounts of Bitcoin sent out, the business was equipped to handle the losses.