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Crypto mega hedge fund Three Arrows Capital reportedly files for bankruptcy in New York – londonbusinessblog.com

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Crypto Hedge Fund Three Arrows Capital (3AC) Has Filed Chapter 15 Bankruptcy According to New York Report Bloomberg

Founded by Credit Suisse traders Zhu Su and Kyle Davies, the mega-fund once managed an estimated $10 billion in assets and has been a linchpin among crypto finance players. The insolvency has forced major industry players to rearrange their operations and limit customer withdrawals amid a crypto sell-off that caught many mega-corporations by surprise.

Chapter 15 bankruptcy will allow the foreign company to protect its assets while the liquidation is carried out in the British Virgin Islands after a court order this week after 3AC defaulted on a $660 million loan to Voyager Digital. 3AC is based in Singapore.

The ongoing collapse of the company is causing problems for numerous venture capital backed crypto treasures. Earlier today, BlockFi announced a deal with FTX US, noting that it had lost approximately $80 million through its dealings with 3AC.


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