Three Arrows Capital, a cryptocurrency-focused hedge fund, has plunged into liquidation, deepening the crisis engulfing the global digital assets sector.
Sky News has learnt that partners from Teneo in the British Virgin Islands has been lined up to handle the insolvency of the Singapore-based firm, which was set up in 2012 by Su Zhu and Kyle Davies.
Cryptocurrency insiders said on Wednesday that the liquidation would be a significant moment in the current unravelling of the cryptocurrency sector, which has grown at breakneck speed in recent years.
It was unclear what the immediate financial implications would be for Three Arrows' creditors.
The firm's demise is likely to raise further questions, however, about the regulatory oversight to which cryptocurrencies and other digital assets are subject in the world's major financial centres.
The crisis at Three Arrows Capital was highlighted earlier this month when Voyager Digital, a crypto broker, said it was considering issuing a...
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
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...