About
8Blocks Capital is a quantitative proprietary trading firm within the Cryptocurrency markets with a focus
on liquidity provision and high frequency trading using cutting-edge technologies. We provide liquidity for all types of crypto assets, including spot, futures, and options. We trade over 10 figures in monthly volume on all the major crypto-currencies exchanges.
Our team has over two decades of combined experience in building low latency trading technologies and
implementing algorithmic trading strategies. The team has very ambitious goals in the
Cryptocurrency space and plans to be a dominant player in the markets over the coming year. As we
expand, we intend to continue to build, implement and improve our data-driven mathematical models
within our proprietary trading strategies through the use of our proprietary technologies.
PRODUCTS
8Blocks Capital is a quantitative proprietary trading firm within the Cryptocurrency markets with a focus
on liquidity provision and high frequency trading using cutting-edge technologies. We provide liquidity for all types of crypto assets, including spot, futures, and options. We trade over 10 figures in monthly volume on all the major crypto-currencies exchanges.
8 Blocks Capital ask platforms to freeze means of 3AC for judicial proceedings
8 Blocks Capital calls on platforms to freeze Three Arrows Capital's funds after the firm goes silent
A portion of a circle with two blue arrows forming an angle from the center and a third yellow arrow bisecting it, followed by blue capital text reading "Three Arrows Capital"(attribution)
8 Blocks Capital is a Hong Kong-based trading firm. In a Twitter thread, Danny Yuan explained that 8BC had been using 3AC's trading accounts to reduce their trading fees. He wrote, "We had known them since 2018, thought they were competent and didn’t think they were degen enough to lose billions and not employ basic risk management."
When 8BC contacted 3AC to make a withdrawal on June 13, they never received a reply. "We didn't think much of it at the time. After a while, the market stablized so we no longer needed the funds. We thought maybe they were just busy." The following day, 8BC noticed $1 million missing from their accounts. When they tried to contact 3AC, they again received no response.
According to Yuan, "What we learned is that they were leveraged long everywhere and were getting margin-called. Instead of answering the margin calls, they ghosted everyone." He called on platforms that still have assets from 3AC to freeze those assets, "so that those who 3AC owes can be paid back in the future after legal proceedings."
