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Blockchain.com Shopping Assets to Fill $270M Hole From Three Arrows Capital: Sources

Blockchain.com, the early Bitcoin wallet provider and exchange that boasted a $14 billion valuation as recently as last March, has been attempting to sell off assets in a scramble for capital. 

Decrypt has learned from multiple sources of calls in December and January on which Blockchain.com senior executives have shopped parts of its business, including to Coinbase. Decrypt has also seen a private email setting up one of these calls.

Even as the company denies attempting to sell off assets, the spokesperson shared that Blockchain.com recently sold off 80% of its stake in PolySign. Blockchain.com participated in the infrastructure startup’s 2021 $53 million Series B round.

Blockchain.com had lent $270 million in cash and crypto to Three Arrows Capital (3AC), the crypto hedge fund that filed for bankruptcy in July after the collapse of the Terra ecosystem. 

Three Arrows Capital 3AC
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