Saturday, May 31, 2025

Latest

Manhattan Court Freezes 3AC Assets

The remaining assets of the troubled Three Arrows Capital have been frozen by a New York federal judge. This follows after court filings by the appointed liquidator of the crypto hedge fund have claimed that the firm’s founders’ whereabouts are currently unknown.

Last week, 3AC filed a Chapter 15 bankruptcy to shield its US assets from lawsuits. According to the filing, the firm’s outstanding debt from Deribit trading accounts that triggered the liquidation now amounts to US$80.1 million, consisting of 2,319 bitcoin and 31,177 ether. 

But the creditors are apparently having trouble seeking the crypto hedge fund’s cooperation with respect to the liquidation process. They filed court documents in a New York court manifesting their frustration that the firm’s founders–Zhu Su and Kyle Davies–have “not yet begun to cooperate.”

But Su tweeted a contradiction to this claim, saying their good faith to cooperate “was met with baiting.”

3AC founders’ legal counsel also said that they will not be proceeding with the set call between the founders and the creditors, and will stay as such depending on the creditors’ answer to their queries.


Information for this briefing was found via Reuters and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Leave a Reply

Video Articles

How To Profit From $3300 Gold? An Inside Look At A Massive 300,000 Oz Project | Martino De Ciccio

We’re At The Start of a Great Silver Boom | Ross McElroy & Andy Bowering – Apollo Silver Corp

Equinox Gold Q1 Earnings: When Everything Goes Wrong

Recommended

ESGold Begins Concentration Tests Ahead Of First Production

Sterling Metals Hits 0.21% Copper Over 482.8 Metres In First Drilling At Soo Copper project

Related News

Three Arrows Capital: Is The Crypto-Based Hedge Fund Headed Towards Insolvency?

The cryptosphere can’t seem to catch a break. This week, Singapore-based Three Arrows Capital or...

Thursday, June 16, 2022, 02:00:00 PM

Very Bankrupt, Much Wow: Three Arrows Capital Founders Bought A $50 Million Superyacht They Never Got To Sail

“It represents the beginning of a fascinating journey,” said the broker to announce the sale...

Wednesday, August 17, 2022, 04:27:00 PM

Voyager Digital: 3AC Defaults On Loans, Tens Of Millions Leave Company Coffers Via Withdrawals

As expected, Voyager Digital (TSX: VOYG) has been forced to issue a notice of default...

Monday, June 27, 2022, 02:16:00 PM

Crypto Contagion Explained: Who FTX is Taking Down With Them

How bad is the crypto world about to get?  Well, if you haven’t been paying...

Sunday, November 20, 2022, 01:30:00 PM

Voyager Digital Reveals $655 Million Exposure To Three Arrows Capital

It appears that Voyager Digital (TSX: VOYG) may be in trouble with respect to its...

Wednesday, June 22, 2022, 08:11:39 AM