Crypto hedge fund Three Arrows Capital plunged into liquidation to become one the biggest casualties of the crypto winter | Tech News | Startups News

Startup News:

Remember Three Arrows Capital, the crypto hedge fund that led to the demise of crypto lenders BlockFi and Celsius Network? Three Arrows Capital has now plunged into liquidation as the crisis engulfed the global digital assets sector, SkyNews first reported the story. The liquidation makes Three Arrows one of the biggest casualties of the latest so-called “crypto winter.”

As we reported about two weeks, Three Arrows Capital shocked the crypto industry when it announced it was unable to meet margin call demands from lenders, causing the leading crypto hedge fund into a crisis that comes as turmoil and credit crunch grip the crypto market. Three Arrows is one of the biggest and most active players in the crypto industry with investments spanning the lending and trading platforms.

Three Arrows has hired Teneo in the last few days to deal with the liquidation process, CNBC also reported, citing a person with knowledge of the matter who requested anonymity because they were not authorized to discuss the matter publicly.

Sky News reported that it learned “that partners from Teneo in the British Virgin Islands have been lined up to handle the insolvency of the Singapore-based firm, which was set up in 2012 by Su Zhu and Kyle Davies.”


According to The Wall Street Journal, Three Arrows is now considering selling its assets. The hedge fund has also hired legal and financial advisers to help work out a solution for its investors and lenders, after suffering heavy losses from a broad market selloff in digital assets, the firm’s founders said on Friday.

“We have always been believers in crypto and we still are,” Kyle Davies, Three Arrows’s co-founder, said in an interview. “We are committed to working things out and finding an equitable solution for all our constituent.”

Meanwhile, Three Arrows’ margin call has already rippled through the entire crypto market. One of the affected crypto companies is crypto lender BlockFi, which recently announced that it has liquidated its position in Three Arrows.

RELATED:  SoftBank, celebrities back a $40 million investment in Christian worship and meditation app Glorify | Tech News | Startups News

Founded in 2012 by by Su Zhu and Kyle Davies, Three Arrows Capital is a hedge fund manager that provides risk-adjusted returns. The firm is headquartered in Singapore.

Tech News Today Latest Technology Headlines & Trends Link Below

News Post || Technology News || News Headlines || World News || US Headlines || Health || Education News


Show More

Related Articles

Back to top button