Forbes: Former BlockFi employees warned of credit risks, but company executives ignored them
According to ChainCatcher news, citing sources familiar with the matter, BlockFi did not allow employees to describe risks in internal written communications as early as 2020 to avoid liability. According to former borrowers of BlockFi, the company's due diligence process was also flawed, as BlockFi failed to investigate the scale and quality of potential borrowers' assets.Additionally, former employees of BlockFi revealed that the internal team was concerned about the concentration of borrowers in crypto whale enterprises, including Three Arrows Capital and Alameda, but management responded that the loans were secured. (Forbes)