en
Back to the list

Three Arrows Capital Ordered Into Liquidation by BVI Court: Report

Legal

blockworks.co 29 June 2022 08:02, UTC
  
Reading time: ~2 m

Three Arrows Capital (3AC), the crippled cryptocurrency hedge fund firm, has been ordered into liquidation by a British Virgin Islands (BVI) court, reports Sky News citing a source familiar with the matter.

A BVI court reportedly ordered 3AC to liquidate its assets on Monday. Partners from global consulting firm Teneo Restructuring were said to be managing 3AC’s insolvency. 3AC is headquartered in Singapore but incorporated in BVI.

3AC has been dogged by insolvency rumors over the past few weeks, including that it suffered upwards of $400 million in liquidations as cryptocurrency markets collapsed between May and June.

The firm was founded in 2012 by cryptocurrency investors Su Zhu and Kyle Davies. 3AC operated crypto hedge funds as well serving as venture capitalists across the digital asset space.

This story is developing…


Get the day’s top crypto news and insights delivered to your inbox every evening. Subscribe to Blockworks’ free newsletter now.



   Source
Back to the list