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Benzinga
Benzinga
Business
Shiv Juneja

Binance CEO Changpeng Zhao Denies Giving 3AC A Credit Line Following The Hedge Fund's Insolvency

Changpeng Zhao Binance 3AC BNB Crypto

Binance (CRYPTO: BNB) CEO Changpeng Zhao denies providing hedge fund Three Arrows Capital (3AC) with a large-scale credit line.

What Happened: Singapore-based cryptocurrency hedge fund 3AC recently experienced insolvency when it was liquidated by numerous crypto firms after being unable to meet margin calls. This liquidity crisis occurred amidst a major plunge in cryptocurrency markets.

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