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    Home » Crypto News » Three Arrows Capital Ordered Into Liquidation by a British Virgin Islands Court

    Three Arrows Capital Ordered Into Liquidation by a British Virgin Islands Court

    Author: George Georgiev

    Last Updated Jun 30, 2022 @ 08:42

    Three Arrows Capital has been ordered into liquidation by a court in the British Virgin Islands.

    The Singapore-based cryptocurrency hedge fund – Three Arrows Capital – has reportedly been ordered into liquidation following the downturn of the market and the challenges it faced recently.

    • According to Sky News coverage, a court in the British Virgin Islands has ordered Three Arrows Capital into liquidation.
    • Citing sources familiar with the matter, the report argues that the “liquidation would be a significant moment in the current unraveling of the cryptocurrency sector, which has grown at breakneck speed in recent years.”
    • At the time of this writing, the immediate financial implications for creditors of 3AC are unclear.
    • As CryptoPotato reported earlier, one of the creditors is Voyager Digital. The company previously disclosed exposure to the extent of some $500 million to Three Arrows Capital and also stated that it’s “unable to assess the amount it will be able to recover.”
    • Meanwhile, the broader cryptocurrency market took a beating on Wednesday and is down some $60 billion over the past 48 hours.
    • At the time of this writing, BTC is trading at slightly above $20,000 in anticipation of important releases such as the GDP quarter-over-quarter for Q1, as well as the speech of the Chairman of the Federal Reserve – Jerome Powell, which is scheduled for later today.
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    About The Author

    George Georgiev
    More posts by this author

    Georgi Georgiev is CryptoPotato's editor-in-chief and a seasoned writer with over four years of experience writing about blockchain and cryptocurrencies. Georgi's passion for Bitcoin and cryptocurrencies bloomed in late 2016 and he hasn't looked back since. Crypto’s technological and economic implications are what interest him most, and he has one eye turned to the market whenever he’s not sleeping. Contact George: LinkedIn

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