Liquidation in sight for Three Arrows Capital (3AC) – Ruthless justice for the fund

The inevitable happened – The news fell last Monday. The hedge fund specializing in cryptos Three Arrows Capital (3AC) is judicial liquidation. End of the suspense in a affair that smelled of scorch for a few days already. Details to follow!

3AC: another collateral victim of the crypto winter

The crypto ecosystem is currently going through an area of ​​strong turbulence. And a new victim is unfortunately to be deplored. Three Arrows Capital had already announced, a few days ago, that she had liquidity problems. The Singapore company was finally caught up in the justice system. The news came from a court in the British Virgin Islands which handed down a liquidation order June 27. And it was the Sky media that published the info first.

Justice has finally caught up with Three Arrows Capital

What next for the company?

Still according to this media, a New York company, Teneo Restructuring, will help manage the insolvency of Three Arrows Capital. Finally, Kyle Daviesthe fund’s co-founder, told the Wall Street Journal that he was “determined to solve the problems and find a fair solution for everyone”.

People familiar with the matter are considering a sale assets or rescue by a third party. But at the moment, nothing is official. The only certainty is that the bleeding continues in crypto businesses and that some try to take advantage.

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