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What crisis? High-stakes crypto lending looks here to stay

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economictimes.indiatimes.com

Odell, an analyst at British crypto lender Blockchain.com, instant messaged Edward Zhao of Three Arrows Capital asking that the Singapore hedge fund repay at least part of a $270 million loan.

Three Arrows had just taken a hit from the collapse of cryptocurrency Terra, raising doubts about its ability to repay. That was a worry for Blockchain.com since it had not taken collateral to secure the loan, court filings show. «This is time sensitive so let's sort if you're available,» Odell said of the repayment.

Zhao appeared lost for words. Did you Know?Jobs in crypto, blockchain, and NFTs have grown by 804% in India between April 2020 and April 2022 according to a report by IndeedView Details » «Yo,» he replied. «uhh» «hmm» Three Arrows filed for bankruptcy in July and Blockchain.com told Reuters it had yet to recover a cent of its loan.

The text exchange is among the affidavit documents filed by liquidators as part of the hedge fund's liquidation proceedings.

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