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

Published by
Reuters UK

By Elizabeth Howcroft and Hannah Lang LONDON/WASHINGTON (Reuters) – On May 11, Scott 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. Zha…

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