SBF: Three Arrows Crisis ‘Couldn’t Have Happened’ with Transparent On-Chain DeFi
Singapore-based crypto investment firm 3AC last week was rumored to be insolvent after allegedly failing to meet margin calls from several lenders, including BlockFi and financial services company Genesis, according to the Financial Times.
The transactions haven’t been confirmed, but several big lenders to 3AC, including crypto exchange BitMEX, have started liquidating their positions, while portfolio companies are distancing themselves from the hedge fund. Bankman-Fried’s suggestion came in response to a tweet asking industry figures how to “best ensure that a 3AC moment doesn’t happen again.” The CEO said that the top priority wasn’t “making sure no one ever goes under,” but keeping institutional credit transparent to retail investors.
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