Due to the uncertainties surrounding hedge firm Three Arrows Capital, Finblox has imposed a $1,500 monthly withdrawal cap and withheld awards.
In December 2021, bitcoin staking and yield generation platform Finblox made a $3.6 million investment in cryptocurrency hedge fund Three Arrows Capital (3AC).
Finblox had no claims against Three Arrows for fulfilment of contractual commitments until mid-June. However, in light of reports that Three Arrows Capital may be in financial difficulties, the Finblox platform has chosen to halt payment of remuneration to all of the company’s clients.
The limits impacted the Finblox referral program, deposit payments, and the platform’s transaction limit for new users.
Finblox said it is “closely following market circumstances and many media reports on the situation at Three Arrows Capital” in a statement.
The staking platform has been forced to take a forced decision to secure user funds and restore the full range of services based on the information obtained.
The suspension of operations and the impending insolvency of another crypto lender, Celsius, are thought to have caused 3AC’s financial woes. This firm has handled billions of dollars in customer funds, yet it may not have enough capital to repay investors.
Подробнее на Bits.media: https://bits.media/
