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The creditors of Three Arrows Capital may be left holding the bag, according to a source who claims the hedge fund’s exposure to Deribit is only worth $25 million. Go to Source Powered by WPeMatico
Ever since Celsius paused withdrawals on June 12, the company has been the focus of attention due to the lender’s financial hardships. A month later, Celsius filed for bankruptcy in the U.S. by leveraging the Chapter 11 process. Two days after the bankruptcy filing, a report disclosed that two people familiar with the matter allege … Read more
Liquidators don’t know the whereabouts of Kyle Davies and Su Zhu. Meanwhile, Grayscale’s legal officer says the asset manager’s lawsuit against the SEC could take a while to play out. Go to Source Powered by WPeMatico
During the last 30 days, the Celsius Network’s native token CEL increased in value by over 140% against the U.S. dollar. On July 13, just before the lending company filed for Chapter 11 bankruptcy, CEL was exchanging hands for $0.961 per unit. Following the news that the company filed for bankruptcy protection, the native crypto … Read more
The crypto lending firm said that the exact amount reimbursed to users will “depend on what happens in the restructuring process and the recovery of 3AC assets.” Go to Source Powered by WPeMatico
As the search for an elusive Bitcoin bottom continues, at least one United States miner was forced to liquidate a portion of its holdings in June. Go to Source Powered by WPeMatico
Some Voyager Digital customers did not understand the scope of FDIC protection for their deposits, leading to questions about the firm’s marketing. Go to Source Powered by WPeMatico
Following the over-the-counter (OTC) firm’s Twitter thread on June 14, Cumberland explained on July 5 that “rangebound price action belies a volatile picture below the surface,” while crypto markets consolidated during the past week. Cumberland stressed there’s a growing number of crypto companies feeling financial burdens, and “uncertainty” tied to stressed entities is “hanging over … Read more
On July 4, the crypto lending company Vauld announced it suspended withdrawals, trading, and deposits after disclosing the firm is “facing challenges.” While not naming any specific companies, the Singapore-based cryptocurrency lending platform and exchange mentioned “financial difficulties” stemming from “key business partners.” Vauld Suspends Withdrawals Over ‘Financial Difficulties’ During the last 30 days, a … Read more
The troubled crypto hedge fund Three Arrows Capital Ltd., otherwise known as 3AC, has filed for bankruptcy according to recent court filings. The court papers show 3AC is aiming for an ancillary Chapter 15 proceeding so liquidators and creditors cannot seize the firm’s U.S. assets. 3AC Files for Bankruptcy — ‘Tremors’ From the Crypto Market … Read more
