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With Zhu and Davies’ location unknown and the liquidators and their attorneys unable to track them down, the liquidators are asking the court to be able to serve the two subpoenas via their email addresses, Twitter accounts and the email addresses of their attorneys. Source
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The Singapore-based Three Arrows filed for bankruptcy in July, saying its business had “collapsed in the wake of extreme fluctuations in cryptocurrency markets.” In particular, the hedge fund suffered huge losses stemming from the collapse of the TerraUSD algorithmic stablecoin in May. At the end of June, the Monetary Authority
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The good news is that, at least for now, analysts don’t see Suisse as a systemic risk in the way that Lehman Brothers was in 2008. Still, there are ways to view Suisse’s ineptitude as systemic to modern banking. Economists have argued, for instance, that big banks consistently make huge
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After climbing promisingly earlier this week, equity markets returned to a more familiar slog with the Nasdaq, S&P 500 and Dow Jones Industrial Average (DJIA) falling 0.7, 1% and 1.1%, respectively. Investors will be eyeing Friday's U.S. unemployment and labor participation reports for September, although the former is widely expected
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Liquidators credit collection curator VincentVanDough for his help in moving the NFTs to a Gnosis Safe wallet. Source
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The removal of liquidity was the first activity from the wallet in 10 days. Original Source
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Zhu described the complex network of Three Arrows entities registered in different jurisdictions including Singapore, the British Virgin Islands and the U.S. state of Delaware. As a result of the diffuse structure, the Singapore-based entity – Three Arrows Capital Pte Ltd (TACPL) – may not be able to comply completely
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The liquidators of defunct hedge fund Three Arrows Capital have secured a crucial court decision in Singapore that will provide clarity on assets held in the region. Original Source
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After five weeks in hiding, the humiliated founders of Three Arrows Capital spoke openly about the tragic demise of their once-flying hedge fund. They claimed to have received threats to their lives, which is why they remained unnoticed. Su Zhu and Kyle Davies, both 35 years old, claimed on Friday
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Summary: Coinbase has stated that it has no financial exposure to Three Arrows Capital, Celsius Network, Voyager Digital, or any crypto company that has collapsed in the last few months. Coinbase points out that these crypto firms’ issues were ‘foreseeable’ as they were overleveraged. The crypto exchange has pointed out that it ‘stress
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