Saturday, 03 December 2022

 

 

LATEST NEWS Punjab Police's AGTF Arrests Lawrence Bishnoi Gang Member From Dhakoli; Recovers 20 Pistols, Innova Car Chief Secretary Vijay Kumar Janjua Directs To Focus On The Coverage Of Children Under Aadhaar Now, Horticulture Experts Just A Call Away Punjab Police Foil Major Heroin Smuggling Bid Through Indo-Pak Border; 5.6 Kg Heroin, Hexacopter Drone Recovered We want to build the biggest league outside India : Graeme Smith Litton Kumer Das to lead Bangladesh in upcoming ODI series against India Suryakumar Yadav will someday win a World Cup for Team India : Brett Lee Free yoga classes to continue at all costs, announces Arvind Kejriwal WhatsApp rolls out disappearing messages shortcut on Android beta National Conference on Innovative Trends in Engineering Technology concludes at GCET Jammu DC Ramban Mussarat Islam reviews progress of work on NH-44 Four laning project Committee on Land Use approves 12 cases in Doda Modern Youth Innovation Centre coming up in Ghat soon DDC Chairman Dhananter Singh Kotwal launches work of JJM Water Supply Scheme at village Rainda DDC Rajouri Vikas Kundal reviews performance of PMGSY MVD, Health Department organise free medical camp for operators of commercial vehicles NCSC Chairman Vijay Sampla asks Cochin Port authority and Cochin Shipyard limited to redress issues of SC employees Every unemployed youth will get job, contractual employees to be regularised in Gujarat : Bhagwant Mann Harbhajan Singh ETO directs officials of PWD to speed up the ongoing development works Governor Rajendra Vishwanath Arlekar inaugurates National Conference on Digital Crime and Forensic Science Director Agriculture Chowdhury Mohammad Iqbal reviews working scenario of Agriculture Law Enforcement Agency

 

Top crypto hedge fund Three Arrows Capital files for bankruptcy

Cryptocurrency, Bitcoin, Ethereum, Crypto Investors, Crypto, Digital Coin

Web Admin

Web Admin

5 Dariya News

San Francisco , 02 Jul 2022

Top crypto hedge fund Three Arrows Capital (3AC) has filed for bankruptcy in the US, days after its liquidation began in the British Virgin Islands, the media reported on Saturday.The liquidation, and now Chapter 15 bankruptcy in New York, comes as popular crypto tokens such as Bitcoin and Ethereum nosedived by nearly 70 per cent from their record highs amid the economic meltdown.

According to court documents seen by the Financial Times, crypto options and futures exchange "Deribit claimed Three Arrows failed to repay $80 million, as financial woes have plagued the hedge fund"."The company is or is likely to become unable to pay its debts as they fall due, and is therefore insolvent," claimed Deribit.

The Monetary Authority of Singapore this week slammed Three Arrows for providing false information and breaching an asset under management threshold, the report noted.The mega fund, founded by Credit Suisse traders Zhu Su and Kyle Davies, once managed an estimated $10 billion in assets.

Its insolvency has forced major industry players to reshuffle operations and limit customer withdrawals amid a crypto selloff that seemed to catch plenty of mega firms off guard, according to The Verge.On Friday, beleaguered crypto lending firm BlockFi announced a deal with leading crypto exchange FTX US, saying it had lost around $80 million from its dealings with Singapore-based 3AC.

The Chapter 15 bankruptcy will allow the foreign firm to protect its stateside assets while the liquidation is carried out in the British Virgin Islands.

 

Tags: Cryptocurrency , Bitcoin , Ethereum , Crypto Investors , Crypto , Digital Coin

 

 

related news

 

 

 

Photo Gallery

 

 

Video Gallery

 

 

5 Dariya News RNI Code: PUNMUL/2011/49000
© 2011-2022 | 5 Dariya News | All Rights Reserved
Powered by: CDS PVT LTD