Crypto firm Blockchain.com loses $270 mn on loans to bankrupt firm 3AC

Cryptocurrency firm Blockchain.com has lost $270 million on its loans to crypto hedge fund Three Arrows Capital (3AC), according to Blockchain.com CEO Peter Smith's letter to the shareholders. This comes days after 3AC filed for bankruptcy, seeking protection from creditors in the US. Smith said that Blockchain.com remains liquid and solvent and its customers will not be impacted.