• Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA
Friday, March 24, 2023
TheGreatNews.com
  • Home
  • MINDSET
  • WELL BEING
  • POSITIVE NEWS
  • WISDOM
  • PURPOSE
  • NEW TECHNOLOGIES
  • More Topics
    • ENTREPRENEUR
    • GREEN ENERGIES
    • SUCCESS
    • GOOD LIFE
No Result
View All Result
  • Home
  • MINDSET
  • WELL BEING
  • POSITIVE NEWS
  • WISDOM
  • PURPOSE
  • NEW TECHNOLOGIES
  • More Topics
    • ENTREPRENEUR
    • GREEN ENERGIES
    • SUCCESS
    • GOOD LIFE
No Result
View All Result
TheGreatNews.com
No Result
View All Result

Crypto hedge fund Three Arrows files for bankruptcy

in NEW TECHNOLOGIES
Reading Time: 2 mins read
A A
ProShares’s latest ETF lets you bet against Bitcoin
Share Share Share Share Share

Related articles

Garbage is sometimes a HIPAA violation

JBL announces the Tour One M2 headphones and Tour Pro 2 earbuds

Cryptocurrency hedge fund Three Arrows Capital (3AC) filed for Chapter 15 bankruptcy in a bid to protect its US assets from creditors in the country, as reported earlier by Bloomberg and CNBC. Representatives for the Singapore-based company made the filing in a Southern District New York court on Friday, which legally protects the US assets of insolvent foreign debtors from creditors in the US.

Founded in 2012 by Kyle Davis and Su Zhu, 3AC managed about $10 billion in assets as recently as March, later sinking to $3 billion in April. Like several other crypto firms, including the lending giants Celcius and Babel Finance, 3AC’s turn in fortunes is part of the so-called crypto “winter” that’s brought down stablecoins and sent Bitcoin’s value plunging.

Earlier this week, reports emerged that 3AC failed to pay a $670 million loan provided by crypto broker Voyager Digital, which has since halted all trades, deposits, and withdrawals as a result. Sky News later reported that a court in the British Virgin Islands has ordered 3AC’s liquidation and that the firm is reportedly working with business consulting company Teneo to oversee the process.

In May, Davies and Zhu admitted in an interview with the WSJ that the company lost out on a $200 million investment following the crash of Luna and its sister coin TerraUSD. At the time, the two remained optimistic about the prospects of crypto, telling the WSJ that they’ve “always been crypto believers” and “still are.”

Credit: Source link

ShareTweetSendPinShare
Previous Post

Rare ‘Dinosaur Bird’ Patiently Awaits a Lifelong Mate to Populate the Magnificent Species

Next Post

Dissolvable Implant Relieves Pain On Demand Without the Use of Drugs or Opioids

Related Posts

Garbage is sometimes a HIPAA violation

Garbage is sometimes a HIPAA violation

August 30, 2022

After the Supreme Court decided to end federal protection for abortion in June, many abortion advocates and lawmakers started agitating for the Biden administration to make...

JBL announces the Tour One M2 headphones and Tour Pro 2 earbuds

JBL announces the Tour One M2 headphones and Tour Pro 2 earbuds

August 30, 2022

JBL has just announced the Tour Pro 2 wireless earbuds, featuring adaptive noise cancellation and customizable ANC alongside a charging case with a 1.45-inch LED touchscreen...

Elon Musk says whistleblower’s testimony gives him more reasons to dump Twitter deal

August 30, 2022

Elon Musk says the disclosures of Twitter’s former security chief have given him new justifications to walk away from his $44 billion deal to buy the...

Logitech’s cloud gaming handheld leaks with Android apps and Switch-like UI

Logitech’s cloud gaming handheld leaks with Android apps and Switch-like UI

August 30, 2022

Logitech’s new cloud gaming handheld has leaked weeks after the company teased it was working on the new device. Logitech G and Tencent Games confirmed their...

Meta links Instagram’s NFT posts to Facebook as the market for ‘digital collectibles’ tanks

Meta links Instagram’s NFT posts to Facebook as the market for ‘digital collectibles’ tanks

August 30, 2022

Meta has been testing support for NFT “digital collectible” posts on Instagram since May, and if you’re among the expanding group of people with access, then...

Next Post
Dissolvable Implant Relieves Pain On Demand Without the Use of Drugs or Opioids

Dissolvable Implant Relieves Pain On Demand Without the Use of Drugs or Opioids

16 Tips for Self-Care During Summer Travel—for You and Your Kids

16 Tips for Self-Care During Summer Travel—for You and Your Kids

Seven solutions to climate change that need to happen now

Seven solutions to climate change that need to happen now

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Weekly Updates

Exploring the Wisdom of Colombia: Lessons from a Vibrant Culture

Exploring the Wisdom of Colombia: Lessons from a Vibrant Culture

March 17, 2023
TheGreatNews.com

This is an online news portal that aims to provide the latest updates about mindset, well being, positive news, wisdom, purpose, new technologies, entrepreneur, green energy, success, good life and stuff like that around the world. Feel free to get in touch with us!

© 2021 - TheGreatNews.com - All rights reserved!

  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA
No Result
View All Result
  • Home
  • MINDSET
  • WELL BEING
  • POSITIVE NEWS
  • WISDOM
  • PURPOSE
  • NEW TECHNOLOGIES
  • More Topics
    • ENTREPRENEUR
    • GREEN ENERGIES
    • SUCCESS
    • GOOD LIFE

© 2021 - TheGreatNews.com - All rights reserved!