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Crypto Lender BlockFi Stops Accepting GBTC Shares as Collateral

  • BlockFi is unwinding positions in Grayscale’s Bitcoin Trust
  • Collapse of Three Arrows reverberates throughout the industry
   

   

Photographer: Gabby Jones/Bloomberg
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BlockFi Inc. unwound its positions in the Grayscale Bitcoin Trust and stopped accepting shares of the investment fund as collateral, according to a person with knowledge of the matter. The crypto lender will evaluate the use of Grayscale as collateral in the future.

The move shows how the collapse and subsequent liquidation of crypto hedge fund Three Arrows Capital continues to send shock waves throughout the industry.