Moonbeam responded that the default of Three Arrows Capital will not have a material impact on business operations

"As part of its liquidity and money management services, the Foundation has previously entered into a loan agreement with Sanarrow Capital, which is not expected to have a material impact on its business operations," Moonbeam said on July 19 in response to the company's default on more than $27 million in debt payments. Three Arrows Capital is one of several providers that the Foundation uses for such management services, and the loan agreement represents only a portion of the foundation's account."