BlockFi had $1.8B in outstanding loans in Q2: Report #togrp7

The disclosure came from its July 21 Transparency Report for Q2 where the firm outlined its risks relating to liquidity and credit, and shared details on its institutional and retail loan portfolios. Of the outstanding loans to borrowers — valued at $1.8 billion — the firm reported that $600 million are uncollateralized loans.

BlockFi said it has established guidelines to help it “maintain the liquidity necessary to meet all our obligations under our core business activities, which includes institutional and retail borrowing and trading activities.”The new liquidity guidelines come a few weeks after BlockFi and crypto exchange FTX.US signed an agreement to send $400 million to BlockFi as a “credit facility” with the option to acquire the firm for up to $240 million based on performance triggers. #togrp7

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