3AC

Dubai-based crypto fund Three Arrows Capital is facing possible insolvency after incurring at least $400 million in liquidations, The Block reported today.

Three Arrows Capital co-founder Su Zhu has posted a vague tweet to say that the firm is "committed to working this out" as rumors of a possible wipeout event ...

Throughout 2021, Three Arrows Capital became notorious for pushing the so-called “supercycle” thesis and endorsing alternative Layer 1 projects like Solana, Avalanche, and Terra ahead of their parabolic rallies. Unconfirmed reports claim that the firm may have missed a margin call and experienced a liquidation event due to the recent meltdown in the crypto market. The popular trader posted a cryptic tweet early Wednesday hinting that Three Arrows Capital was looking for a solution to an issue it was facing.

Three Arrows Capital - a prominent cryptocurrency fund - is rumored to be facing massive liquidations as ETH prices keep crashing.

- This means that the above position is some 7% away from being liquidated if no collateral is added or if the loan is not repaid. - At the time of this writing, ETH is trading at its lowest point since January 2021, charting a 17-month low at slightly above $1,100. - On-chain Wizard – a well-known analyst –concludedthat if ETH goes to $1042, the position would be liquidated:

Zhu Su, the co-founder of the cryptocurrency investment firm Three Arrows Capital has spoken out on social media as rumors swirl around the hedge fund's ...

Most of the steth fair discount analysis ive seen misses that from an onchain functionality perspective, steth is nearly pari passu w eth functionality in defi— Zhu Su (@zhusu) Zhu is known to tweet about Ethereum ETH/USD alternatives such as Avalanche (AVX) and Solana (SOL). Recently, he labeled stETH as the “most sound source of native protocol yield on Ethereum.” In May, LUNC lost almost all of its value after the project-backed algorithmic stablecoin TerraClassic USD (USTC) lost its peg with the dollar.

Three Arrows Capital sold at least $40M worth of Lido's staked Ether early Tuesday, making it the largest seller of the token in the past week. The company did ...

Online chatter has recently increased multi-fold around Three Arrows Capital post speculations related to insolvency.

The backlash from the crypto community was nothing short of expected. Evidently, Twitter users have been calling Su Zhu out. Well, not to forget, Celsius Network’s latest announcement too had an impact on the broader market condition. Think BlockFi, Genesis, Nexo, Celsius. Expect every lender to take on hits from 3AC.” Online chatter has recently increased multi-fold around Three Arrows Capital post speculations related to insolvency. “3AC collapse is monumental.

After liquidations worth $400 million, Three Arrows Capital is reportedly working on an arrangement with lenders and other parties.

3AC then returned the ETH to Aave, as it was on loan. The stETH token is meant to be redeemable for one ETH after Ethereum completes its transition to proof of stake. In April, the fund pledged to move its headquarters from Singapore to Dubai.

The wallet rumored to belong to 3AC has just dropped below its maintenance level indicating the liquidation of over $200M ETH may be imminent.

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The crypto bloodbath already claimed Terra Luna and Celsius—now it may claim its third high-profile victim within weeks. Hedge fund Three Arrows Capital, or 3AC ...

“This is categorically false.” “We trade in one of 3AC’s trading accounts. “I hope you pay us back ASAP.”