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Search Results for: 3ac

3AC Co-founders’ Assets Worth $1.14B Frozen in British Virgin Islands

The founders of the crypto hedge fund Three Arrows Capital (3AC) have had assets worth about $1 billion frozen by a court in the British Virgin Islands. This development has been verified by Teneo, the fund’s liquidator to Bloomberg. According to an email from liquidator Teneo, the court has granted

December 21, 2023 2 mins read

Genesis Proposes Slashing 3AC Claim from $1B to $33M

Bankrupt cryptocurrency lender Genesis has taken a bold step towards streamlining its Chapter 11 reorganization. The company has asked the court for permission to drastically decrease the claim of the bankrupt hedge fund Three Arrows Capital (3AC) from over $1 billion to $33 million. The proposed resolution is an important

November 10, 2023 2 mins read

Founders of Insolvent 3AC Lure Investors With Reimbursement Scheme

Several months after their failed hedge firm 3AC went bankrupt, its founders launched two new businesses: a cryptocurrency exchange platform called OPNX and a new hedge fund named 3AC Ventures. So far, the 3AC ventures website consists just of a generic message requesting potential investors to send them an email.

July 4, 2023 1 min read

Insolvent Three Arrows Capital Founders Launch 3AC Ventures

On June 21, the platform Open Exchange (OPNX), which allows users to trade claims against insolvent crypto companies, made an announcement about a new ecosystem partner that would be known as “3AC Ventures.” Developers claim that the new venture will invest in projects linked to the OPNX ecosystem. Su Zhu

June 22, 2023 2 mins read

Several Rare NFTs Owned by Insolvent 3AC Sold in Sotheby’s Auction

On Friday, Sotheby’s completed the auction of many rare non-fungible tokens (NFTs) confiscated from the extensive collection of defunct crypto hedge firm Three Arrows Capital (3AC), netting $2,482,850. The Grails collection of NFTs, developed as part of 3AC’s asset portfolio which began in 2021, was the focus of the auction

May 21, 2023 1 min read

Open Exchange Led by 3AC Founders Raises $25 Million Funding

In a very contentious move, the creators of the “Open Exchange” (OPNX) have raised $25 million without publicly disclosing their contributors. In the meanwhile, defunct cryptocurrency exchange CoinFLEX has announced that a Seychelles court has authorized its reorganization arrangement. Thus, momentarily increasing the value of its token. Kyle Davies contacted

March 8, 2023 2 mins read

Arthur Hayes Takes Dig at 3AC and CoinFLEX Founders Over GTX Funding

BitMEX founder Arthur Hayes said on Saturday that the founders of Three Arrows Capital, Kyle Davies and Zhu Su, and CoinFLEX, Mark Lamb and Sudhu Arumugam, have successfully secured funding for their new cryptocurrency exchange GTX. By the end of February, the exchange’s founders want to have marketed themselves, as

February 4, 2023 2 mins read

CoinFLEX partners with 3AC to raise funds for its new exchange platform

3AC (Three Arrows Capital Ltd.), a hedge fund established in 2012, and CoinFLEX, a crypto Futures, and Lending exchange shook hands. The founders of these two conglomerates share one common goal: to launch a trading exchange.  Su Zhu and Kyle Davies, the founders of the 3AC collide their path with

January 17, 2023 2 mins read

3AC Co-founder Su Zhu Opposes Asset Liquidation in Singapore

The Singapore High Court granted Teneo’s petition to seize and liquidate 3AC’s assets. The firm filed for bankruptcy in the British Virgin Islands at the end of June. Su Zhu, the co-founder of Three Arrows Capital (3AC), claims that Teneo, the liquidator appointed by the court, misrepresented before the Singapore

August 27, 2022 2 mins read

Trouble Continues For Three Arrows Capital (3AC) as Court Orders Liquidation

Teneo Restructuring will provide assistance in the process. Crypto broker Voyager Digital also revealed $661 million in exposure to the fund. According to Sky News, a court in the British Virgin Islands has ordered the liquidation of the Singapore-based crypto firm Three Arrows Capital (3AC). Teneo Restructuring, according to the

June 29, 2022 1 min read