“We are in the process of communicating with relevant parties and fully committed to working this out,” former Credit Suisse Group AG trader Zhu Su tweeted from his verified account, without providing further details. Zhu and Three Arrows co-founder Kyle Davies didn’t respond to requests for comment.
While information on the fund’s size and trading strategies is sparse, blockchain analytics firm Nansen estimated in early March that Three Arrows managed about $10 billion. It owned more than 5% of the Grayscale Bitcoin Trust as of December 2020, according to the latest available regulatory filings, though it’s unclear whether Three Arrows has maintained that position. The trust has a market value of about $10 billion.
Crypto markets had already witnessed two high-profile blowups since early May, roiling an asset class that was already under pressure from tightening monetary policy. First, the Terra decentralized-finance ecosystem collapsed when an algorithmic stablecoin that was a key...
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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...