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Investors in the Symbolic fund included a number of crypto industry participants, protocols, exchanges, auditing firms and venture capitalists among them. Family offices and institutions also backed the fund, which will cut checks of $500,000 to $1 million per project. Source
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Last week, Rune Christtensen, founder of MakerDAO, the issuer of the dai stablecoin, said the U.S. sanction will likely usher in a “new age” of DeFi. Whereas the pre-sanction period emphasized user acquisition and protocol growth, the new period would recenter decentralization as a primary goal. What this means is
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Each of the “Crypto Crusaders” – Sarah Thiessen, Carlos Martinez, Ronald Deering, Cheri Beth Bowen and Alisha Shepperd – has been charged with fraud and the offering and sale of unregistered securities, along with two other promoters, Samuel Ellis and Mark Hamlin, who made YouTube videos advertising Forsage. Source
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Three Arrow Capital (3AC), a Singapore-based crypto hedge fund that at one point managed over $10 billion worth of assets, became one of the many crypto firms that went bankrupt in this bear market. However, the fall of 3AC wasn’t purely a market-driven phenomenon. As more information surfaced, the collapse looked
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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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This week the two co-founders of the embattled cryptocurrency hedge fund Three Arrows Capital spoke to Bloomberg about their fund crumbling at the seams. The co-founders Su Zhu and Kyle Davies did not disclose their whereabouts, but a lawyer who monitored the interview noted the duo is located in the
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3AC continued to borrow from lenders expecting a market rebound. This was until bitcoin fell to nearly $20,000 in late June, causing the firm’s positions to go awry and making it unable to repay any loans. The fund lost money on luna, its GBTC shares traded at a discount, and
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The founders of tainted crypto hedge fund Three Arrow Capital (3AC), which filed for bankruptcy in the first week of July, have finally resurfaced after five weeks of no known whereabouts.In an interview with Bloomberg, the crypto hedge fund’s two founders Su Zhu and Kyle Davies admitted that the overconfidence
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In the world of crypto, there’s no such thing as “too big to fail.” Three Arrows Capital, once the most recognizable hedge fund in the industry, has essentially gone belly-up after its founders believed their own hype and decided to go full-degen mode during the worst macro climate of a
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