BlockFi Recently Liquidated and Hedged Collateral for Large Customers with Excess Margin Loan Obligations

BlockFi CEO Zac Prince tweeted that BlockFi recently took steps to liquidate and hedge the collateral of its large customer who had failed to meet its excess margin loan obligations, and that the customer's funds were not affected. In addition, BlockFi will also increase lending rates, which will go into effect on July 1. Previously, U.S. crypto trading and lending platform BlockFi was one of the companies that liquidated Three Arrows Capital's loan collateral positions after it failed to meet margin calls from its lenders, according to the Financial Times.