The Lasting Agony of 3AC: The Law Decoded, July 18-25
Crypto Hedge Fund Co-Founders Admit Their Mistakes, Driven by Bull Market Overconfidence.
Newsletter
The late spring and summer months of 2022 will be remembered not only for their extreme temperatures across the world, but also for an overwhelming series of major crypto companies collapsing. Terra Lab in May, Celsius in June and now the enduring agony of a Singapore-based crypto hedge fund, Three Arrows Capital (3AC). Technically, 3AC was ordered into liquidation by a court in the British Virgin Islands on June 27, but that was the last week that saw new developments around the business.
3AC's liquidators are brutally demanding access to the company's Singapore headquarters due to "virtual radio silence from company management/directors". They believe the desktop may contain cold wallets or information on how to access 3AC trading accounts, which liquidators want to access before one is deleted or destroyed. This willingness is perfectly understandable, given the sums that had been lent to 3AC by creditors — they seemed much larger than in previous reports.
The scandal surrounding a bankrupt hedge fund has grown to such an extent that the chief executive of the Monetary Authority of Singapore (MAS) has even
Crypto Hedge Fund Co-Founders Admit Their Mistakes, Driven by Bull Market Overconfidence.
Newsletter
The late spring and summer months of 2022 will be remembered not only for their extreme temperatures across the world, but also for an overwhelming series of major crypto companies collapsing. Terra Lab in May, Celsius in June and now the enduring agony of a Singapore-based crypto hedge fund, Three Arrows Capital (3AC). Technically, 3AC was ordered into liquidation by a court in the British Virgin Islands on June 27, but that was the last week that saw new developments around the business.
3AC's liquidators are brutally demanding access to the company's Singapore headquarters due to "virtual radio silence from company management/directors". They believe the desktop may contain cold wallets or information on how to access 3AC trading accounts, which liquidators want to access before one is deleted or destroyed. This willingness is perfectly understandable, given the sums that had been lent to 3AC by creditors — they seemed much larger than in previous reports.
The scandal surrounding a bankrupt hedge fund has grown to such an extent that the chief executive of the Monetary Authority of Singapore (MAS) has even
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