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
OPNX, a decentralized platform for open finance and Web 3.0 applications, has revealed that it has partnered with 3AC Ventures, a new venture capital firm that invests in blockchain and crypto projects.
#crypto2023 #3ac
#decentralizedfinance
#crypto2023 #3ac
#decentralizedfinance
OPNX, the new exchange founded by Three Arrows Capital's co-founders Kyle Davies and Zhu Su, is now live.
#3ac #crypto2023 #crypto101
#3ac #crypto2023 #crypto101
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co-founders, will close operations in two weeks, requiring trading positions to be closed by February 7 and funds withdrawn by February 14.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
âĄïž Genesis agrees to settle $1B in claims by Three Arrows Capital with $33M payment
Bankrupt crypto lender Genesis will settle $1B in claims by defunct crypto hedge fund Three Arrows Capital (3AC) with a payment of $33M. The Three Arrows Capital hedge fund brought charges against Genesis after its collapse back in 2022, referring to transfers made prior to the bankruptcy.
#GENESIS #3ac #crypto
Bankrupt crypto lender Genesis will settle $1B in claims by defunct crypto hedge fund Three Arrows Capital (3AC) with a payment of $33M. The Three Arrows Capital hedge fund brought charges against Genesis after its collapse back in 2022, referring to transfers made prior to the bankruptcy.
#GENESIS #3ac #crypto
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 âfraudulentâ and âpreferentialâ 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 firmâs CEO noted that Celsius Networkâs 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, Terraâs Do Kwon is still waiting for his extradition to South Korea. The Supreme Court of Montenegro delayed Do Kwonâs extradition recently in response to a request for the protection of legality filed by the the State Prosecutorâs 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 âfraudulentâ and âpreferentialâ 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 firmâs CEO noted that Celsius Networkâs 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, Terraâs Do Kwon is still waiting for his extradition to South Korea. The Supreme Court of Montenegro delayed Do Kwonâs extradition recently in response to a request for the protection of legality filed by the the State Prosecutorâs Office (VDT) on August 2, 2024.
#CryptoMarketMoves #MarketDownturn #BinanceTurns7 #3ac
