Three Arrows Capital Files for Bankruptcy in the US to Protect its Assets from Liquidators. – Ethereum World News

Summary:

Three Arrows Capital has filed for Chapter 15 bankruptcy in New York
3AC filing for bankruptcy comes less than a week after a British Virgin Islands court ordered the hedge fund into liquidation.

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KuCoin CEO Refutes Rumors that the Exchange Will Pause Withdrawals or Had Exposure to 3AC, LUNA or Babel Finance. – Ethereum World News

Summary:

KuCoin CEO, Johnny Lyu, has debunked rumors that the exchange will soon pause withdrawals.
According to Mr. Lyu, KuCoin does not have direct exposure to collapsed LUNA, Three Arrows Capital, or Babel Finance.
He further reassures that ‘everything on KuCoin is operating well.

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Three Arrows Capital Files for Chapter 15 Bankruptcy Protection

Embattled Crypto hedge fund Three Arrows Capital has filed for Chapter 15 bankruptcy in New York to protect its U.S. assets after a liquidation order in the British Virgin Islands.
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According to Bloomberg, the hedge fund representatives filed the bankruptcy petition on Friday.

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Court Orders Three Arrows Capital to Liquidate Assets: Sky News

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Court orders liquidation of Three Arrow Capital

A British Virgin Islands Court has ordered the liquidation of Three Arrows Capital (3AC), plunging the crypto hedge fund into a deeper crisis, Sky News reported.
According to the report, Teneo Restructuring has been mandated to handle 3AC’s restructuring.

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Ethereum’s Vitalik Criticizes 3AC’s Co-founder Alleged Yacht Purchase, Says There are More Honorable Ways to Burn $50M – Ethereum World News

Summary:

Ethereum co-founder, Vitalik Buterin, has thrown some shade into Su Zhu’s alleged $50 million yacht purchase.
According to Vitalik, there are better ways of burning $50 million, such as becoming a Gitcoin grants matching partner.

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Voyager Digital Discloses Three Arrows Capital Exposure After Securing $485 Million Loan From Alameda – Ethereum World News

Summary:

Three Arrows Capital Owes Voyager 15,250 BTC and $350 million USDC.
Voyager has set June 27, 2022, as the deadline for full repayment of the digital assets.
The crypto broker is prepared to explore legal remedies if 3AC fails to meet its payment obligation, per reports.

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