3AC is said to have been forced into liquidation in the British Virgin Islands by a court order after creditors sued the fund for its failure to meet its commitments during a global market decline.
Купете го Dip преку eToro платформата сега
Вашиот капитал е изложен на ризик.
Difficult Times Ahead for Three Arrows Capital
3AC, a well-known crypto fund, has failed amid a crypto winter in which investor mood has been affected. After a year of gains, the markets for both well-known cryptocurrencies as well as less known ones have been steadily declining in recent months.
Since its all-time high in November 2021, the price of Bitcoin, one of the most widely used and well-known cryptocurrencies, has dropped by about 60% year to date and 70% from its current level.
In June alone, the price of the digital currency dropped by 37%, sliding below the $20,000 mark. With a significant degree of leverage, 3AC was able to place large bets on numerous cryptocurrencies. Terra USD and Luna, the stablecoins sibling coin, were both heavily invested in by the business.
Founders Zhu Su and Kyle Davies are tremendously optimistic about Bitcoin and other cryptocurrencies. Rumours of a possible 3AC liquidation were addressed on Twitter by the fund’s co-founder in the weeks leading up to its demise.
Teneo Speeds Things Up
Teneo, a restructuring business, has been brought in to speed up the liquidation and settle any claims creditors may have on 3AC’s assets.
Cryptocurrency broker Voyager Digital has also revealed the inability to make due payments on a previously reported loan by its operational company, Voyager Digital LLC. For the recovery of the profits, Voyager aims to use 3AC and press it.
Посетете eToro за да купите Crypto сега
Вашиот капитал е изложен на ризик.
The failure of 3AC has sparked fears that additional funds may be at danger as a result of this. Celsius and CoinFlex, two other crypto-focused businesses, have lately had liquidity and financing concerns, with CoinFlex recently being forced to halt withdrawals for users due to market volatility.
Прочитајте повеќе за:
Среќен блок - нашата препорачана крипто-крипта од 2022 година
- Нова платформа за крипто игри
- Избрана во Форбс, Nasdaq.com, Јаху финансии
- LBLOCK Token Up 1000%+ од претпродажба
- Наведени на Pancakeswap, LBank
- Бесплатни билети за извлекување на награди за џекпот за сопственици
- Награди за пасивни приходи - Играј за да заработиш
- 10,000 NFT ковани во 2022 година - сега на NFTLaunchpad.com
- NFT Џекпот од 1 милион долари во мај 2022 година
- Светски децентрализирани натпревари
Криптоактивите се многу испарлив нерегулиран инвестициски производ. Нема заштита на инвеститорите во ОК или ЕУ.
Source: https://insidebitcoins.com/news/three-arrows-capital-liquidation-set-in-motion