Crypto Hedge Fund Three Arrows Capital Plunges Into Liquidation
upstart writes:
Three Arrows Capital, a cryptocurrency-focused hedge fund, has plunged into liquidation, deepening the crisis engulfing the global digital assets sector.
Sky News has learnt that partners from Teneo in the British Virgin Islands has been lined up to handle the insolvency of the Singapore-based firm, which was set up in 2012 by Su Zhu and Kyle Davies.
Cryptocurrency insiders said on Wednesday that the liquidation would be a significant moment in the current unravelling of the cryptocurrency sector, which has grown at breakneck speed in recent years.
The firm's demise is likely to raise further questions, however, about the regulatory oversight to which cryptocurrencies and other digital assets are subject in the world's major financial centres.
[...] The crypto landscape is experiencing tumultuous change amid a collapse in valuations of assets such as stablecoins - digital currencies pegged to the value of assets such as the US dollar or gold.
Read more of this story at SoylentNews.