Three Arrows Capital liquidators control $40M of the fund’s assets

2022-7-23 22:00

Three Arrows Capital (3AC) liquidators Teneo have gained control of assets worth $40 million belonging to the embattled hedge fund, Bloomberg News reported July 21.

The liquidators reportedly stated that the fund’s assets consisted of bank accounts, cryptocurrencies, NFTs, and stakes in other firms.

Bloomberg reported that Teneo representative Russell Crumpler declared on July 20 that 3AC founders Kyle Davies and Su Zhu were still in control of certain digital assets and bank accounts.

Crumpler reportedly stated that Teneo had contacted around 40 companies that 3AC might have invested in and about 30 crypto exchanges and banks.

In a separate filing on July 8, the liquidators said that Zhu and Davies were uncooperative and that their location was unknown.

The hedge fund owes its creditors $2.8 billion.

3AC’s creditors’ list includes Genesis; bankrupt crypto lending firms Voyager Digital and Celsius Network; Algorand, CoinList, and others.

Meanwhile, Su Zhu and Kyle Davies’ wife also filed claims against the embattled hedge fund.

3AC founders in touch with liquidators

A new Bloomberg report revealed that the 3AC founders are en route to Dubai and have denied claims that they were uncooperative.

According to Bloomberg, the “death threats” they had received forced them into hiding; however, they have still maintained communication with the liquidator.

Zhu reportedly said the firm had positioned itself for a market that didn’t eventually happen, a view also shared by his cofounder Davies who said:

“We had all of our, almost all of our assets in there. And then in the good times we did the best. And then in the bad times we lost the most.”

The co-founders also acknowledged that Terra’s implosion was part of the reason it failed. According to Zhu, they probably allowed their relationship with Do Kwon to cloud their judgment of the token.

The post Three Arrows Capital liquidators control $40M of the fund’s assets appeared first on CryptoSlate.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

First Bitcoin Capital (BITCF) на Currencies.ru

$ 0.01244 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0.01244 - H: $0.01244
Капитализация $0 Rank 99999
Доступно / Всего 0 BITCF

arrows fund assets three capital liquidators control

arrows fund → Результатов: 86


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 […]

2022-7-13 01:14


Фото:

Three Arrows founders are ‘MIA’ amid liquidation process

Amid mounting scrutiny around the crypto sector, one piece of unfolding event that is tied to a lot of the contagion going on is the liquidation of crypto hedge fund Three Arrows Capital. The company, which filed for Chapter 15 bankruptcy in June and was ordered liquidated by a British Virgin Islands’ court, appears not […] The post Three Arrows founders are ‘MIA’ amid liquidation process appeared first on Invezz.

2022-7-12 21:41


Фото:

Voyager Digital issues default notice to 3AC

Voyager Digital has formally issued beleaguered crypto hedge fund Three Arrows Capital (3AC) a notice of default over the failure to honor loan payments requests. The company last week announced that it had asked 3AC to repay the loan of $350 million USDC and 15,250 BTC by 27 June, failure of which would result in […] The post Voyager Digital issues default notice to 3AC appeared first on Invezz.

2022-6-27 16:56


Сэм Бэнкман-Фрид рассказал о роли Alameda Research в поддержке индустрии в условиях спада

Alameda Research предпринимает усилия для смягчения негативных явлений на криптовалютном рынке из-за проблем Celsius и Three Arrows Capital. Об этом заявил ее глава Сэм Бэнкман-Фрид. After the collapse of TerraUSD, as 3AC and Celsius faltered, and before the venture fund he founded lent $485 million to Voyager Digital as the #Bitcoin sell-off continues, @SBF_FTX and I talked about #crypto contagion risk: https://t.

2022-6-21 10:19