Three Arrows Capital

Cryptocurrency hedge fund Three Arrows Capital said on Wednesday it was committed to working things out, seemingly addressing social media chatter that it ...

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The Singapore-based firm is looking at options to repay lenders and counterparties after allegedly undergoing over US$400 million in liquidation, according to ...

A vague tweet by a founder of Three Arrows Capital, an influential hedge fund that has been liquidating crypto holdings as prices plummeted, is stirring ...

Three Arrows Capital co-founder Su Zhu posted to Twitter on Wednesday to say that the firm is “committed to working this out” as rumors of insolvency have ...

“We are in the process of communicating with relevant parties and fully committed to working this out,” Zhu wrote. 3AC, founded by Su Zhu and Kyle Davies, is one of the world’s most successful crypto hedge funds. stETH is Lido-staked Ethereum, a project that is facing liquidity issues and deviating from its peg as of late.

Rumors on social media allege that Singapore-based crypto hedge fund manager Three Arrows Capital is on the verge of insolvency.

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Sources say the digital currency hedge fund known as Three Arrows Capital (3AC) may be facing insolvency after significant liquidations.

Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. The 3AC liquidations and possible insolvency is not a good look for the crypto community at the moment. Meanwhile, as there has been no official word from 3AC about the possibility of the hedge fund going insolvent, 3AC co-founder Su Zhu made a vague statement about the situation. According to “well-placed sources,” speaking with The Block reporter Frank Chaparro, the digital currency hedge fund known as Three Arrows Capital (3AC) may be facing insolvency after significant liquidations. Amid all this doom and gloom, the global economy looks extremely dark and inflation is wreaking havoc on the world’s citizens, after a myriad of governments pumped trillions into the global economy over the last two years. The Block’s Frank Chaparro reported that sources remarked 3AC may have been liquidated for roughly $400 million.

The rumours of funding pressures come as bitcoin hit a fresh 18-month low, extending falls triggered after major crypto lender Celsius Network froze withdrawals ...

“We are in the process of communicating with relevant parties and fully committed to working this out,” Su Zhu, the co-founder said in a tweet, without going into further detail. The Singapore-based hedge fund was set up in 2012, as per its website. Cryptocurrency hedge fund Three Arrows Capital said on Wednesday it was committed to working things out, seemingly addressing social media chatter that it is facing liquidation issues.

If two huge loans, which analysts believe belong to Three Arrows, get liquidated, it could be disastrous for lenders and the credit market.

If the price of Ethereum drops low enough, the collateral used to secure the loans will be liquidated, or sold. And whoever manages to bid on the collateral first will score a 5% bounty. If that happens, he said, it could be a Catch 22 for the person with the winning bid. After all, as Twitter user degentrading pointed out, 3AC is one of the biggest borrowers and clients for crypto lenders. The Eden Network is a protocol used by traders to guarantee placement of their transaction in a particular block on the Ethereum network. As the sharks circle the two loans, waiting for them to go into automatic liquidation, there’s never been a worse time to be trying to unload stETH.

The rumours of funding pressures come as bitcoin hit a fresh 18-month low, extending falls triggered after major crypto lender Celsius Network froze withdrawals ...

Cryptocurrency hedge fund Three Arrows Capital said on Wednesday it was committed to working things out, seemingly addressing social media chatter that it is facing liquidation issues. Crypto started sliding late last year on expectations of a less accommodative Fed, with rising interest rates hurting the industry and its prospects. Three Arrows was among investors in a $1 billion sale earlier this year of Terra’s Luna cryptocurrency.

The crypto hedge fund got called out on social media Thursday for allegedly misappropriating US$1 million to cover risks of insolvency.

A further drop in Ethereum will speed up the foreclosure, crypto analyst “Onchain Wizard” said. “Given what is currently happening with Celsius as well, the crypto lending market is going through some turbulent waters,” he added. “Instead of answering the margin calls, they ghosted everyone,” Yuan said. 3AC supported leading projects in the crypto industry such as Bitcoin, Ethereum, Solana and Avalanche. “There was no reply but we didn’t think much of it at the time,” Yuan said. “Then our traders noticed that there were a few rumors circulating on Twitter speculating on 3AC’s insolvency,” Yuan said.

Finblox said it intends to evaluate the impact of Three Arrow Capital on liquidity.

We'll send you a myFT Daily Digest email rounding up the latest Cryptocurrencies news every morning. Three Arrows Capital failed to meet demands from lenders to ...

3AC has not responded to 8 Blocks Capital's request for an explanation regarding the missing funds.

New Jersey-based crypto lender BlockFi was among the groups that liquidated at least some of Three Arrows' positions, the FT said, citing people familiar with ...

There had been chatter on social media that it faced liquidation issues. Three Arrows had tweeted on Wednesday it was committed to working things out. Three Arrows, which made a strategic investment in BlockFi in 2020, had borrowed bitcoin from the company, the FT said, but was unable to meet a margin call on that loan.

Crypto lender BlockFi was among the firms to liquidate at least some of 3AC's positions, according to the Financial Times. Citing people familiar with the ...

However, this week’s mass liquidations were likely triggered by the collapse of Ether ( ETH), which plunged toward $1,000 en route to its lowest level since December 2020. The issues surrounding 3AC appear to have impacted Finblox, a Hong Kong-based platform that allows investors to earn yield on their digital assets. While estimates vary, 3AC likely incurred $400 million in liquidations across multiple positions.

New Jersey-based crypto lender BlockFi was among the groups that liquidated at least some of Three Arrows' positions, the FT said, citing people familiar with ...

Advertisement Three Arrows, which made a strategic investment in BlockFi in 2020, had borrowed bitcoin from the company, the FT said, but was unable to meet a margin call on that loan. Advertisement