Sam Bankman-Fried Speaking about the current Three Arrows Capital crisis on Twitter, FTX founder and CEO said:can’t happenwith a transparent on-chain protocol.”
last week Singapore-based crypto investment firm 3AC is rumored to bebankruptAs a result of failing to pay back, several lenders, including BlockFi and financial services firm Genesis, were unable to pay back.
The company has taken $264 million in loans from Aave and a $35 million compound loan, while several major 3AC lenders, including BitMEX, have begun to force the sale of collateral.
suggestion of Bankman-Fried as a response toTweet atAsk the industry how “Making sure the 3AC incident doesn’t happen again,” the CEO said, a top priority is keeping institutional credit transparent to retail investors.
The CEO of FTX tweeted, “Regulations can help.“DeFi can do that too,” he added, adding that this crisis is unlikely to occur with DeFi on transparent networks.
On Friday, Davies told the Wall Street Journal that 3AC had hired legal and financial advisers. “To help find solutions for investors and lenders,” and he talks about options. including the sale of assets or assistance from other companies
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