Tag: three arrows

Aug 26 2022

3AC co-founder fears Jail term over liquidator’s misrepresentation

Aug 26 2022 Published at CryptoSlate under tags  bankruptcy three arrows zhu su

Three Arrows Capital co-founder Su Zhu is worried he and other company directors could face jail terms for contempt of court due to the liquidators’ misrepresentation, Bloomberg News reported on August 26. The court-appointed liquidators for 3AC Teneo said the co-founders of the embattled firm have been uncooperative, saying Zhu and...

Aug 24 2022

Three Arrows Liquidators Granted Singapore Court Clearance To Investigate Crypto Fund

The liquidators of Three Arrows Capital were granted an important court ruling in Singapore, which is expected to offer them with a broader perspective into the bankrupt crypto hedge fund's residual assets, persons with knowledge of the situation disclosed on Wednesday. Bloomberg reports, citing persons with knowledge of the situation, that the Singapore High Court approved the motion of Teneo, the appointed liquidator...

Singapore court grants liquidator access to 3AC’s assets

Aug 24 2022 Published at CryptoSlate under tags  bankruptcy three arrows

Singapore's High Court has granted Three Arrows Capital liquidators Teneo power to secure and liquidate its assets in the country, Bloomberg News reported on August 24. According to the report, Teneo is now recognized in Singapore to request access to 3AC locally-owned assets and financial records. It means...

Aug 20 2022

Crypto New Casualty – Hodlnaut Sacks 80% Of Personnel Due To Liquidity Distress

Troubled Crypto lender Hodlnaut has laid off 80% of its employees and filed for judicial intervention in Singapore in a bid to decrease costs and stay afloat. On Friday, Hodlnaut, which offers cryptocurrency investment options in approved institutions with interest, disclosed liquidity issues. Hodlnaut confirmed that it ended the employment of approximately 40 individuals "to cut corporate expenses." According to its statement, the...

Jul 29 2022

Crypto Exchange Zipmex Goes Bankrupt – Who’s Next To Fall?

After weeks of rumors, cryptocurrency exchange Zipmex said that it had filed for bankruptcy protection in Singapore in response to mounting legal threats from creditors. The Thailand-based crypto exchange is reported to have more than $50 million in exposure to Babel Finance and Celsius, crypto lenders that have severely been battered from the turmoil plaguing the crypto markets. Babel halted withdrawals at the...

Jul 22 2022

Three Arrows Founders Speak Out After Hiding For Weeks Because Of Death Threats

Jul 22 2022 Published at Bitcoinist.com under tags  3ac btcusd crypto news ethusd hedge fund

The disgraced founders of Three Arrows Capital spoke comprehensively about the catastrophic failure of their once-flying hedge fund after five weeks of hiding out. They said that they had received threats to their lives, which is why they remained under the radar. Bloomberg reported on Friday that Su Zhu and Kyle Davies,...

Jul 13 2022

Three Arrows Assets Ordered Frozen By Judge – How Much Deeper 3AC’s Trouble Can Get?

Three Arrows Capital just got itself in deeper trouble while the brains behind the company are nowhere to be found. The New York Southern Bankruptcy Court on Wednesday held an emergency hearing for creditors of the bankrupt crypto hedge company Three Arrows. Multiple news agencies reported that during court proceedings, Judge Glenn Martin ordered that Three Arrows Capital cannot dispose of or transfer...

Jul 12 2022

Three Arrows Founder Breaks 27 Days Silence, Says Firm Baited By Liquidators

For the first time since June 15, Su Zhu, co-founder of the troubled cryptocurrency hedge fund Three Arrows Capital, called out liquidators for "baiting" the firm into cooperation. Three Arrows Founder Says They're Being Entrapped Su Zhu, a co-founder of Three Arrows Capital (3AC), broke his month- long silence today by posting images of an email sent to the legal representatives of the Singapore-based...

Three Arrows Capital Founders Nowhere To Be Found, Creditors Say

The founders of Three Arrows Capital are nowhere to be found, a filing by advisory firm Teneo, which is expected to liquidate the remaining assets of the embattled cryptocurrency hedge fund, disclosed. Late in June, Three Arrows filed for Chapter 15 bankruptcy in the British Virgin Islands as a result of a severe selloff in digital currencies. The action was intended to shield...

Jul 06 2022

Crypto Lender Voyager Digital Goes Bankrupt After Three Arrows Collapse

Crypto lender Voyager Digital is the latest domino to fall in the tumultuous market for digital assets. Voyager Digital disclosed on Wednesday that it filed for bankruptcy on Tuesday with the U.S. Bankruptcy Court for the Southern District of New York. The bankruptcy petition comes a week after the company froze withdrawals, trading, and deposits as it sought further time to consider available...

Jun 29 2022

Three Arrows Capital In Deep Trouble As Court Orders For Its Liquidation

According to a report from Sky News on Wednesday, a judge has apparently ordered the liquidation of Three Arrows Capital. If true, this decision will exacerbate the turmoil that has plagued the crypto hedge fund and the crypto space as a whole over the past few weeks. Based on the report, partners from Teneo Restructuring in the British Virgin Islands have been hired...

Jun 22 2022

Crypto lender Maple Finance joins list of platforms facing liquidity issues

Jun 22 2022 Published at CryptoSlate under tags  babel celsius defi investments lending

Maple Finance joined the growing list of crypto lending platforms facing liquidity challenges after announcing on June 21 that there might be insufficient cash in its pools. The DeFi protocol for institutional borrowers and lenders published an update saying 'lenders must wait for borrower repayments.' Maple Finance said current market conditions have...

Jun 20 2022

FTX CEO blames Fed Reserve for bear market, will step in to prevent ‘contagion’

FTX CEO and founder Sam Bankman-Fried (SBF) said the downturn in the crypto market is driven by the aggressive rate hikes introduced by the U.S. Federal Reserve to counter the rising inflation, he said during an interview with NPR. SBF...

Jun 16 2022

More troubles for Three Arrow Capital as 8Blocks accuses it of $1M misappropriation

A Twitter thread by Danny Yuan, the head of crypto trading at 8Blocks Capital, has raised new allegations against the embattled crypto hedge fund, Three Arrows Capital(3AC). According to Yuan, Three Arrows used $1 million of his company's fund to answer their margin call. 1) What...

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