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Cryptocurrency News

Contagion: Genesis faces huge losses, BlockFi’s $1B loan, Celsius’s risky model

06/30/2022

Less than a minute

2022.06.30 11:06

It’s been another day of watching the ripples of contagion spread through the crypto market.

With Three Arrows Capital being ordered into liquidation by a British court, details have also emerged today of BlockFi liquidating a $1B loan to 3AC, and the fallout from the insolvency was partly to blame for lending firm and market maker Genesis Trading facing losses of “a few hundred million dollars.”