The overall crypto market is currently striving to get its bullish hold after a brief downturn. The market cap has spiked over 2.40% to $2.25 trillion and trading volume has surged by 45.73%. Recently, the potential rise of meme coins observed in the market has gained attention within the market.
OPNX, the cryptocurrency exchange launched by the founders of the defunct hedge fund Three Arrows Capital, is set to close its doors in mid-February. Customers must settle their positions by February 7th at 08:00 UTC and withdraw their funds by February 14th. In an email to its customers, OPNX announced
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
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
On Friday afternoon, Singapore authorities detained Su Zhu, a co-founder of the defunct cryptocurrency hedge firm Three Arrows Capital, at Changi Airport. According to Teneo, which is in charge of winding down the failed hedge firm, he was attempting to escape the country when he was arrested. Both Zhu and
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
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
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
Blockchain.com is reducing about 150 employees, due to financial losses. The exchange recently lost $270 million from Three Arrows Capital. As per reports, Luxembourg-based cryptocurrency exchange Blockchain.com is disbanding 25% of its employees, amid financial losses and the collapse of the global crypto market. The latest workforce reduction will affect
Genesis CEO, Michael Moro posted a tweet thread revealing their cover on the Three Arrows Capital (3AC). Previously in June, Genesis declared that a major participant was unable to repay the margin and they have dealt with it accordingly. 1/ As part of our goal in providing transparency to the
