The Latest Breaking News from 3AC

A court in the British Virgin Islands has ordered the liquidation of crypto hedge fund Three Arrows Capital (3AC), after the company suffered major losses in the recent market turmoil. According to a report by Sky News, partners from Teneo, a global CEO advisory firm, are handling the insolvency proceedings after a court order…

Three Arrows Capital (3AC), a prominent crypto hedge fund, defaulted on a loan worth over US$670 million, prompting a steep fall in Bitcoin's price to below $21,000.

Crypto lending and borrowing firm Three Arrows Capital (3AC) had positions liquidated by crypto exchanges Deribit, BitMEX and FTX.

The worldwide cryptocurrency market capitalization is at $892 billion, down from $893.3 billion on Friday morning. The Hong-Kong based cryptocurrency lender Babel Finance joined Celsius in the suspension of withdrawals, according to the company’s website.

Major cryptocurrency players, including Celsius (CRYPTO: CEL), 3AC, and Tether (CRYPTO: USDT), have experienced major liquidations.

The worldwide cryptocurrency market capitalization is at $906.5 billion, up from $900.6 billion on Thursday morning. Thursday’s drama surrounds cryptocurrency trading firm and liquidity provider8 Blocks Capital, and its issue with Three Arrows Capital (3AC).

The worldwide cryptocurrency market capitalization is at $900.6 billion Thursday, down from $926.6 billion on Wednesday afternoon. Thursday’s drama surrounds cryptocurrency trading firm and liquidity provider 8 Blocks Capital and its issue with Three Arrows Capital (3AC).

As the Ethereum (CRYPTO: ETH) merge approaches later this year, Lido Staked ETH (CRYPTO: stETH) has suffered severely due to insolvencies across firms, such as Celsius and 3AC.

Three Arrows Capital founder takes to Twitter to assuage fears after 25% drop in price of bitcoin in a single day