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A company on the verge of bankruptcy could sell AAVE and these 14 Altcoins!

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Something is wrong with Singapore-based crypto hedge fund Three Arrows Capital (3AC). However, it is still unclear whether this means the company has gone bankrupt. In the event that 3AC “fails”, it is said that some cryptocurrencies, including AAVE, in which the company invests, could be sold. Meanwhile, according to new news, the cryptocurrency firm BlockFi; It was one of the groups involved in the liquidation of 3AC.

Will Three Arrows Capital sell AAVE and these coins?

The hedge fund Three Arrows Capital, which was founded last year and manages around $ 10 billion, has positions in many of the largest cryptocurrency projects. These coins can be listed as follows: Bitcoin, Ethereum, Solana, Axie Infinity, Avalanche, Polkadot, Near Protocol, Terra, Trader Joe, Aave, Orca, Mina Protocol, Kusama, Ardana. Three Arrows Capital, including the $ 40 million Lido Staked Ethereum (stETH); It looked like he was selling his assets.

They will buy massively to prevent crash in this Altcoin!

Researchers and analysts on Twitter say this is to prevent the $ 264 million Aave loan and $ 35 million compound loan from going into liquidation. Earlier on Tuesday, Su Zhu, co-founder of Three Arrows Capital; It seemed to give some confidence that the company was taking steps to keep it afloat. He tweeted without describing the parts or specifying what to work on. cryptocurrency.com As reported in the tweet, “We are communicating with stakeholders. We work hard to solve this problem. “

The rumors for BlockFi are out

According to the Financial Times, BlockFi was one of several companies involved in the liquidation of Three Arrows Capital (3AC). On Tuesday, June 15, reports began circulating that Three Arrows Capital was experiencing liquidity problems. Sources suggested that 3AC’s lenders liquidated $ 400 million from the company. However, at the time of these reports it was not clear which companies were involved in the liquidation. Now, the Financial Times reports that cryptocurrency lending company BlockFi is an involved company.

Today is the big day for these 22 Altcoins - here's what they will be!

BlockFi “was among the groups that liquidated at least some of 3AC’s positions,” the Times said Thursday. That is, BlockFi reduced investments in 3AC’s positions by using the collateral it had previously placed to support its lending activities. Yuri Mushkin, BlockFi’s chief risk officer, told the Financial Times that his company made “its best business decision … with a large customer who is failing to meet their obligations.” He also stated that BlockFi was “one of the first to act with this counterpart”.

Mushkin added that BlockFi has collateral that exceeds the size of the loan. She then assured the public that BlockFi’s risk management policies would allow her to continue to operate in a difficult market. BlockFi CEO Zac Prince echoed Mushkin’s comments on Twitter. He added that the client “has failed to meet his obligations regarding an overly secured margin loan.” Prince said BlockFi “has fully accelerated the loan and fully liquidated the collateral.” Therefore, he claimed to be protected from risk. BlockFi has not publicly confirmed that the company in question is Three Arrows Capital.

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