Starting July 1, the Finblox betting platform has increased the withdrawal limit for verified users to $3,000 per day ($30,000 per month).

IMPORTANT ANNOUNCEMENT FROM FINBLOX ❤️ pic.twitter.com/Ks98RSTKpp

— Finblox (@finblox) 30 June 2022

Finblox had previously lowered withdrawal limits and prohibited new users from creating cryptocurrency addresses. This came at the same time as BlockFi’s decision to liquidate some positions in hedge fund Three Arrows Capital (3AC), according to media reports.

Finblox is part of the 3AC investment portfolio. According to Blockdata, the project has raised a total of $3.9 million.

From July 5th, the platform will allow users who pass KYC-Verified Plus verification, withdrawals up to $50,000 per day. However, the total amount should not exceed $500,000 per month.

Finblox has also restarted its referral program and reward distribution.

“We are doing everything we can to restore confidence in the platform, unlock access to user funds affected by this market event, and complete a return to normal operations,” CEO Peter Hoang told CoinDeck.

In June, against the background of the collapse of the cryptocurrency market, rumors of the bankruptcy of Three Arrows Capital appeared. Trading firm 8 Blocks Capital accused the hedge fund of using client funds to cover margin calls.

According to some reports, cryptocurrency platforms BitMEX, FTX and Deribit have liquidated their 3AC positions due to the latter’s failure to meet margin requirements.

On June 27, crypto broker Voyager Digital sent 3AC a notice of default for non-payment of a loan.

Recall that on June 29, the decision of the British Virgin Islands court to liquidate Three Arrows Capital became known.

Blockchain.com and the Deribit platform confirmed they are among the hedge fund’s lenders requesting this move.

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