{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"The Scoop","title":"BlockFi CEO shares lessons learned from liquidating 3AC","html":"","width":"100%","height":180,"duration":2797,"description":"Earlier this summer, the collapse of Three Arrows Capital (3AC) sent the crypto lending world into chaos. Many lenders suffered heavy losses due to 3AC exposure and some were forced into bankruptcy.\nBlockFi — a prominent crypto lender that was valued at nearly $5 billion during the height of the bull market — was one of the firms that took a big hit when 3AC collapsed, prompting the company's shareholders to approve a $680 million deal with FTX US that outlines a path to a potential acquisition later next year. \nIn this episode of The Scoop, BlockFi CEO Zac Prince candidly recounted the events surrounding his firm's liquidation of Three Arrows Capital. He also explained his personal philosophy regarding the relationship that a crypto lender should have with its customers. \nPrince expressed during the interview that he firmly believes that BlockFi's clients should be given priority consideration:\n\"I have a very fundamental belief that in the type of business that Blockfi is, you can't screw over your clients and still have a business, period. That's not an option and that's not something that Blockfi is ever going to do on my watch.\"\nWhen asked directly about Three Arrows Capital, Prince responded,\n\"I also respect that these are still people and I hope that they're doing okay, but there's a whole mountain of legal and potentially civil and criminal things that they'll be dealing with in the foreseeable future.\"\n\nEpisode 81 of Season 4 of The Scoop was recorded remotely with The Block's Frank Chaparro and BlockFi Founder & CEO Zac Prince.\nListen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Email feedback and revision requests to podcast@theblockcrypto.com.\nThis episode is brought to you by our sponsors Tron, Chainalysis & IWC Schaffhausen\nAbout Tron\nOn August 1st, 2022, Poloniex launched a faster and more stable trading system along with a brand new user interface. Poloniex was founded in January...","thumbnail_url":"https://img.transistorcdn.com/kC6kzNjgr18dm0FmBfV_f9xccAkjj-QXoCJmVNlNtrU/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS8xZmIz/N2E5MmRmMzJjOTU3/OTNhYjJkYzcxZTlj/MTU2Yi5qcGc.webp","thumbnail_width":300,"thumbnail_height":300}