3AC
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1. An address starting with 0xc7c, labeled 'Teneo: 3AC Liquidation,' currently holds $602 million in crypto assets.
2. The majority of its holdings are in WLD (Worldcoin) with a value of $567 million (75 million tokens), constituting 94.1% of the wallet's total assets.
3. Other assets in the wallet include 8.437 million DYDX (approximately $26.91 million), 5.75 million USDC, and 160,000 AXS (worth approximately $1.32 million).
4. The address is associated with Three Arrows Capital, indicating significant investment in Worldcoin in 2021.
5. Zhu Su expressed satisfaction that 3AC (Three Arrows Capital) creditors are among the largest WLD holding addresses.
#3ac
2. The majority of its holdings are in WLD (Worldcoin) with a value of $567 million (75 million tokens), constituting 94.1% of the wallet's total assets.
3. Other assets in the wallet include 8.437 million DYDX (approximately $26.91 million), 5.75 million USDC, and 160,000 AXS (worth approximately $1.32 million).
4. The address is associated with Three Arrows Capital, indicating significant investment in Worldcoin in 2021.
5. Zhu Su expressed satisfaction that 3AC (Three Arrows Capital) creditors are among the largest WLD holding addresses.
#3ac
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DCG Accepts $38 Million Fine: A Costly Lesson on Transparency
Digital Currency Group (#DCG ) and former CEO of Genesis, Michael Moro, have just agreed to pay $38 million to settle allegations from the U.S. Securities and Exchange Commission (SEC). The allegations revolve around DCG hiding serious financial risks related to Genesis Global Capital, the lending unit that went bankrupt.
The Case Started in June 2022
According to SEC documents, in mid-2022, a major client of Genesis, Three Arrows Capital (#3AC ), defaulted on a loan worth $2.4 billion, causing at least $1 billion in losses for Genesis.
The Case Started in June 2022
According to SEC documents, in mid-2022, a major client of Genesis, Three Arrows Capital (#3AC ), defaulted on a loan worth $2.4 billion, causing at least $1 billion in losses for Genesis.
Open Exchange (OPNX) , a cryptocurrency exchange founded by Three Arrows Capital co-founders, will close operations in two weeks, requiring trading positions to be closed by February 7 and funds withdrawn by February 14.
#OPNX #openexchange #3ac
#OPNX #openexchange #3ac
In the middle of the scrutiny following the collapse of #ThreeArrowCapital , Zhu Su’s wife managed to sell her Singapore luxury property for S$51 million, or about $38.5 million.
The sale was completed this October after its signing in July. It happened amid scrutiny by authorities into assets linked to #ZhuSu and his co-founder Kyle Davies.
It was first bought over by Evelyn in 2020 for S$28.5 million and subsequently redeveloped into a good-class bungalow, which almost immediately appreciated substantially in value despite the tumultuous financial position of #3ac .
The sale was completed this October after its signing in July. It happened amid scrutiny by authorities into assets linked to #ZhuSu and his co-founder Kyle Davies.
It was first bought over by Evelyn in 2020 for S$28.5 million and subsequently redeveloped into a good-class bungalow, which almost immediately appreciated substantially in value despite the tumultuous financial position of #3ac .
🔔 3AC Co-Founder Kyle Davies says, Won't Apologize for Crypto Hedge Fund's Bankruptcy !
Kyle Davies, co-founder of the now-defunct Three Arrows Capital (3AC), expressed no remorse for the hedge fund's bankruptcy during an episode of the Unchained Podcast on March 19.
#Write2Earn #3ac #ThreeArrowCapital
Kyle Davies, co-founder of the now-defunct Three Arrows Capital (3AC), expressed no remorse for the hedge fund's bankruptcy during an episode of the Unchained Podcast on March 19.
#Write2Earn #3ac #ThreeArrowCapital
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3AC's Su Zhu to be released and faces trial in Singapore
Su Zhu, co-founder of the now-defunct crypto hedge fund Three Arrows Capital (3AC), will be released this month following his arrest in September for failing to cooperate with liquidation efforts, Bloomberg reported, citing sources familiar with the matter.
Zhu also faces two days of questioning in a Singapore court this week, Bloomberg added.
The hearing requires him to respond to liquidator Teneo's lawyers for the first time as he seeks to gather information on behalf of creditors owed $3.5 billion following the collapse of 3AC last year. Details sought include the cause of the fund's bankruptcy and the location of the assets. The information will be shared with creditors to help maximize recoveries, Bloomberg's sources said, requesting anonymity as the proceedings are private.
The proceedings are a civil matter and Zhu has not faced any criminal charges in Singapore.
#BRC20 #3ac #altcoins❗️ #BTC #AVAX
Su Zhu, co-founder of the now-defunct crypto hedge fund Three Arrows Capital (3AC), will be released this month following his arrest in September for failing to cooperate with liquidation efforts, Bloomberg reported, citing sources familiar with the matter.
Zhu also faces two days of questioning in a Singapore court this week, Bloomberg added.
The hearing requires him to respond to liquidator Teneo's lawyers for the first time as he seeks to gather information on behalf of creditors owed $3.5 billion following the collapse of 3AC last year. Details sought include the cause of the fund's bankruptcy and the location of the assets. The information will be shared with creditors to help maximize recoveries, Bloomberg's sources said, requesting anonymity as the proceedings are private.
The proceedings are a civil matter and Zhu has not faced any criminal charges in Singapore.
#BRC20 #3ac #altcoins❗️ #BTC #AVAX
Su Zhu’s rise & fall with Three Arrows Capital (3AC) is a cautionary tale of crypto's highs and lows. From managing $10B to bankruptcy, legal trouble, & a lavish lifestyle unraveling—here’s what happened:
#CryptoCrash #ThreeArrowsCapital #SuZhu #CryptoNews #3AC #Write2Earn #HaveYouBinanced
#CryptoCrash #ThreeArrowsCapital #SuZhu #CryptoNews #3AC #Write2Earn #HaveYouBinanced
#Onchainlens
#machibigbrother ( @machibigbrother ) is DCA-ing into #3ac .
In the last 10 hours, #Machi has bought 325,020 $3AC for 9 $ETH ($23,922). He now holds 3.6M $3AC bought with 134 $ETH , worth $361K, bought at an average price of $0.067.
Currently, these $3AC are valued at $247K, meaning he is facing a loss of $113K.
#machibigbrother ( @machibigbrother ) is DCA-ing into #3ac .
In the last 10 hours, #Machi has bought 325,020 $3AC for 9 $ETH ($23,922). He now holds 3.6M $3AC bought with 134 $ETH , worth $361K, bought at an average price of $0.067.
Currently, these $3AC are valued at $247K, meaning he is facing a loss of $113K.
Just In: 3AC Demands $1.3 Billion From Bankrupt Terraform Labs
Three Arrows Capital (3AC) has blamed Terraform Labs for its collapse and has made a huge demand to recoup over a billion dollars.
complicated. This is because former crypto hedge fund giant Three Arrows Capital (3AC) has made a claim of $1.3 billion on the firm. 3AC has labeled the former of being behind its implosion in 2022.
The Growing Terraform Labs Challenges
The claims from the Su Zhu founded hedge fund hinges on the losses it suffered as a result of the collapse of TerraUSD and LUNA. The crypto lender allegedly purchased up to $190 million worth of Luna in the beginning of 2022 as part of a larger $1 billion deal that involved other investment firms.
However, a massive selloff of TerraUSD followed several months after, leading to a huge plunge in the value of the token. LUNA soon deteriorated as well.
The implosion of these assets at the time impacted 3AC severely owing to its exposure to both tokens. From holding up to $462 million worth of LUNA at the end of April 2022, the firm ended up with only a little above $2,700 by mid-May. According to liquidators for the hedge fund, the Do Kwon-led firm at the time inflated the valuation of these assets in a manipulative way.
In the court filing, the hedge fund claimed that the crash of the two crypto assets led to massive losses in the its investment as well as its other holdings. Upon its collapse in 2022, a British Virgin Islands court appointed liquidators to the crypto lender to enable it repay creditors.
Celsius Seeks to Claw Back $2.4B From Tether
It is not uncommon for bankrupt firms to explore ways to recall funds. Recently, Celsius Network sued Tether over Bitcoin transaction fraud. The lawsuit alleges that the USDT issuer conducted “fraudulent” and “preferential” transfers of Bitcoin amounting to over $3.5 billion.
However, Tether has refuted the $2.4 billion Bitcoin fraud claims levied against it. Paolo Ardoino, the firm’s CEO noted that Celsius Network’s claim is baseless considering that the Bitcoin in question was put to use on the request of the defunct exchange.
Amidst this new lawsuit from 3AC, Terra’s Do Kwon is still waiting for his extradition to South Korea. The Supreme Court of Montenegro delayed Do Kwon’s extradition recently in response to a request for the protection of legality filed by the the State Prosecutor’s Office (VDT) on August 2, 2024.
#CryptoMarketMoves #MarketDownturn #BinanceTurns7 #3ac
complicated. This is because former crypto hedge fund giant Three Arrows Capital (3AC) has made a claim of $1.3 billion on the firm. 3AC has labeled the former of being behind its implosion in 2022.
The Growing Terraform Labs Challenges
The claims from the Su Zhu founded hedge fund hinges on the losses it suffered as a result of the collapse of TerraUSD and LUNA. The crypto lender allegedly purchased up to $190 million worth of Luna in the beginning of 2022 as part of a larger $1 billion deal that involved other investment firms.
However, a massive selloff of TerraUSD followed several months after, leading to a huge plunge in the value of the token. LUNA soon deteriorated as well.
The implosion of these assets at the time impacted 3AC severely owing to its exposure to both tokens. From holding up to $462 million worth of LUNA at the end of April 2022, the firm ended up with only a little above $2,700 by mid-May. According to liquidators for the hedge fund, the Do Kwon-led firm at the time inflated the valuation of these assets in a manipulative way.
In the court filing, the hedge fund claimed that the crash of the two crypto assets led to massive losses in the its investment as well as its other holdings. Upon its collapse in 2022, a British Virgin Islands court appointed liquidators to the crypto lender to enable it repay creditors.
Celsius Seeks to Claw Back $2.4B From Tether
It is not uncommon for bankrupt firms to explore ways to recall funds. Recently, Celsius Network sued Tether over Bitcoin transaction fraud. The lawsuit alleges that the USDT issuer conducted “fraudulent” and “preferential” transfers of Bitcoin amounting to over $3.5 billion.
However, Tether has refuted the $2.4 billion Bitcoin fraud claims levied against it. Paolo Ardoino, the firm’s CEO noted that Celsius Network’s claim is baseless considering that the Bitcoin in question was put to use on the request of the defunct exchange.
Amidst this new lawsuit from 3AC, Terra’s Do Kwon is still waiting for his extradition to South Korea. The Supreme Court of Montenegro delayed Do Kwon’s extradition recently in response to a request for the protection of legality filed by the the State Prosecutor’s Office (VDT) on August 2, 2024.
#CryptoMarketMoves #MarketDownturn #BinanceTurns7 #3ac
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