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.
Hedge funds using automated “quantitative” strategies are outperforming, converting the crypto market crash into big profits.
An FTX bailout of $750 million will keep two crypto lenders solvent: $250 million for BlockFi and $500 million for Voyager.
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.
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