Moonbeam Foundation, whose director, Aaron Evans, is based in Ottawa, is one of the firms that lent money to now-bankrupt Three Arrows Capital, according to an affidavit filed in Singapore. (The Logic)

Talking point: The foundation, registered in Singapore, is an organization set up to promote adoption of Moonbeam and Moonriver, two public blockchain networks. Evans wrote to Three Arrows on June 15 notifying the fund that Moonbeam Foundation was ending their “liquidity consulting agreement.” Moonbeam Foundation’s exposure included US$17 million in stablecoins and 200,000 Moonriver and 10 million Moonbeam tokens, worth roughly US$10 million as of Wednesday afternoon. In subsequent correspondence, Evans copied employees from TPS Capital, a crypto trading firm with an affiliate registered in Thornhill. Since its connection to Three Arrows came to light, TPS has downplayed its ties to the company, but according to a CoinDesk report, the two firms have been tightly connected.