Behind the dramatic crash in cryptocurrency prices, there are now five triggers that have contributed to the rout. The current evolving concern is the status of crypto hedge fund Three Arrows Capital (3AC), with a business partner claiming it has used around $1 million of its funds without authorization.
TheBlock also reported that Citi is advising crypto lender Celsius on options following its suspension of withdrawals. There are also new updates regarding concerns over the value of the staked ETH coin stETH, from Tether about its stablecoin reserves, and an analysis of the Terra stablecoin fallout by Chainalysis.
Three Arrows Capital allegations
A considerable amount of gossip about the status of crypto hedge fund 3AC has been off the record or from anonymous Twitter commentators. Yesterday co-founder Zhu Su tweeted, “We are in the process of communicating with relevant parties and fully committed to working this out.”
One of its business partners 8BlocksCapital has stepped...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...