Earlier this week, a court from the British Virgin Islands ordered the liquidation of embattled crypto hedge fund Three Arrows Capital (3AC), as the firm proved beyond doubt that it cannot fulfil its debt obligations.
As reported
The sources who pleaded anonymity as the matters have not yet been made public said over the next couple of days, Teneo will set up a website with instructions on how creditors can file claims for a refund. There is no idea of how long the refund process will last or whether every creditor will be paid in full.
Prior to the public knowledge of the liquidation, Three Arrows Capital was issued a default notification by Voyager Digital for $350 million in the US dollar-pegged stablecoin, USDC, and 15,250 Bitcoin, worth about $306 million based on the price of Bitcoin pegged at $20,066.55 as at the time of writing according to data from CoinMarketCap.
While the liquidation of Three Arrows Capital has lent its own distress to the broader digital currency...
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