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BNB Chain, launched by crypto exchange Binance, has completed the burn of over $500 million worth of its native BNB tokens as part of a broader program, it said Tuesday. Token burn refers to the process of permanent deletion of coins from their circulating supply. More than 100 million BNB,
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According to reports, the founders of the now-defunct crypto hedge fund Three Arrows Capital (3AC) are seeking to raise $25 million from investors to start a new crypto exchange called GTX. This solicitation for new capital comes after 3AC co-founders Su Zhu and Kyle Davies were subpoenaed over the social
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Kyle Davies, the co-founder of bankrupt hedge fund Three Arrows Capital (3AC), disclosed in a Twitter thread that the first meeting of 3AC creditors was held on Jan. 11. Davies invited all creditors to join the group and announced that it would meet regularly.According to Davies, creditors continue to express
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The founders of the now-defunct cryptocurrency hedge fund Three Arrows Capital (3AC) have been served subpoenas by the fund’s liquidators via Twitter. While serving subpoenas on Twitter is rare, it has happened on various occasions in the past, including when WikiLeaks was served on Twitter in 2018. Founders of Defunct Crypto
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"Due to volatility in the crypto market generally, together with the substantial number of illiquid investments held by the company, it is presently uncertain what level of recoveries will be made during the course of the liquidation," Teneo wrote, according to the report. Source
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“The foreign representatives and their agents are authorized to serve subpoenas for the production of documents and testimony upon the founders, the investment managers and anyone else that might have information about Three Arrows’ affairs," U.S. Bankruptcy Judge Martin Glenn for the Southern District of New York wrote in a
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Liquidators for Three Arrows Capital (3AC) have seized $35.6 million from the collapsed crypto hedge fund’s bank accounts in Singapore three months after getting the nod from that country’s High Court to begin probing 3ACs assets in the country. Original Source
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Three Arrows Capital co-founder Su Zhu looks like he may be attempting a comeback amid the fallout over FTX and Sam Bankman-Fried — seen by some as the crypto industry’s newest supervillain. After months of radio silence, Su Zhu remerged on Twitter on Nov. 9, the day after FTX revealed
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When LUNA and its sister token TerraUSD began to collapse in May, Voyager sought to determine the impact on Three Arrows and was initially told Three Arrows had only limited exposure to LUNA. Later in June, however, 3AC employee Tim Lo advised Voyager to recall all of its loans to
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Reports indicate that the bankrupt crypto hedge fund Three Arrows Capital (3AC) is facing more trouble from liquidators and financial authorities from the U.S. Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC). The whereabouts of the hedge fund’s co-founders Su Zhu and Kyle Davis are still unknown
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