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Breaking: Court Orders Liquidation Of Three Arrows Capital

Legal

coingape.com 29 June 2022 07:34, UTC
  
Reading time: ~2 m

Crypto hedge fund Three Arrows Capital has reportedly plunged into liquidation, as per Sky News. This will deepen the crisis grappling the crypto space.

According to the report, partners from Teneo Restructuring in the British Virgin Islands has been lined up to handle the insolvency of the Singapore-based firm. Earlier in the week, Voyager Digital said it had issued Three Arrows Capital with a notice of default.

The firm said one of its units had issued 3AC with a default notice for its inability to repay a loan. The loan amount includes 15,250 Bitcoin and $350 million in USDC, worth around $660 million.


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