Root Admin MrD Posted June 27, 2022 Root Admin Share Posted June 27, 2022 The Crypto hedge fund at the centre of the crisis faces the risk of default as the deadline to repay $670 million nears Three Arrows Capital, a crypto-focused hedge fund, has to meet a deadline on Monday to repay more than $670 million in loans to Voyager Digital or face default. Voyager said that it “intends to pursue recovery from 3AC” and is talking to its advisors “regarding legal remedies available.” Three Arrows Capital, or 3AC, is facing a liquidity crisis after the collapse of terraUSD and luna, margin calls on its loans and a massive slump in the crypto market. https://www.cnbc.com/2022/06/27/three-arrows-capital-3ac-faces-deadline-to-repay-loans-or-default.html https://www.coindesk.com/business/2022/06/27/voyager-digital-issues-default-notice-to-3ac-draws-down-75m-of-alameda-revolver/ Link to comment Share on other sites More sharing options...
Root Admin MrD Posted June 30, 2022 Author Root Admin Share Posted June 30, 2022 Update on the news: Major cryptocurrency hedge fund Three Arrows Capital has fallen into liquidation, a person with knowledge of the matter told CNBC. Teneo Restructuring has been brought on board in the last few days to deal with the liquidation process. A slump in digital currency prices, which has seen billions of dollars wiped off the market in recent weeks, has hurt 3AC and exposed a liquidity crisis at the company. https://www.cnbc.com/2022/06/29/crypto-hedge-fund-three-arrows-capital-plunges-into-liquidation.html Link to comment Share on other sites More sharing options...
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