Blockchain.com and Deribit demand liquidation of Three Arrows Capital

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Cryptocurrency service Blockchain.com and crypto exchange Deribit are on the list of creditors that have requested the liquidation of hedge fund Three Arrows Capital (3AC). About it writes Bloomberg, citing a court order.

How much exactly 3AC owes the companies is not reported. Officially, Blockchain.com and Deribit have not commented on social media about the ties to 3AC. A spokesperson for Blockchain.com stated in a media comment:

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“We believe that Three Arrows Capital has deceived the crypto industry and we intend to hold them accountable to the fullest extent of the law. We have filed for the immediate liquidation of all of Three Arrows’ global assets.”

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In addition to Blockchain.com and Deribit, 3AC is also in debt to crypto broker Voyager Digital. The broker declared the default of the fund due to the late payment of over 15,250 BTC and $350 million in USDC. Voyager also added plans to recover damages from 3AC through available legal remedies.

Earlier it became known that the British Virgin Islands ordered the liquidation of Three Arrows Capital. According to a court order, the consulting firm Teneo is the liquidator of the fund. The fund also drew criticism from the Singaporean regulator. According to the Monetary Authority of Singapore, the fund exceeded not only the allowed number of business clients, but also the allowed threshold of capital under management.

Founded in 2012, Three Arrows Capital was considered one of the major investors in the cryptocurrency market. At one time, the firm has financially supported Aave, Avalanche, BlockFi, Deribit, Ethereum, Polkadot, Solana, and WOO Network. How much the hedge fund owes to its creditors remains unknown.

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Source: Cryptocurrency

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