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Finblox Imposes $1.5K Monthly Withdrawal Limit Amid Three Arrows Capital Uncertainty

Finblox said it intends to evaluate the impact of Three Arrow Capital on liquidity.

By Oliver Knight
Updated May 11, 2023, 6:48 p.m. Published Jun 16, 2022, 3:22 p.m.
Three Arrows Capital co-founder Su Zhu speaks at Crypto Bahamas. (Tracy Wang/CoinDesk)
Three Arrows Capital co-founder Su Zhu speaks at Crypto Bahamas. (Tracy Wang/CoinDesk)

Crypto staking and yield generation platform Finblox has imposed a $1,500 monthly withdrawal limit and paused rewards in light of uncertainty surrounding crypto hedge fund Three Arrows Capital, which made a $3.6 million investment in the Hong Kong-based platform last December.

  • According to a statement shared on Twitter, Finblox has made the changes as it evaluates the impact of Three Arrow Capital's reported issues.
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  • It was reported on Wednesday that Three Arrows Capital is facing possible insolvency after incurring at least $400 million in liquidations.
  • "We have been cooperating with over eight partners and protocols, including Three Arrows Capital, to generate yields and spread the risk as evenly as possible," the Finblox statement read.
  • "Finblox will do everything in its power to protect users' funds and reinstate our services in full," it added.
  • The Finblox website states that it offers "peace of mind with $45M insurance on assets."
  • Rival interest-earning platform Celsius recently paused withdrawals, citing extreme market conditions.

Three Arrows Capital

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