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Tuesday, August 16, 2022

Crypto Hedge Fund Three Arrows Capital Ordered to Liquidate in the British Virgin Islands

The crypto winter has finally come for the Singapore-based crypto hedge fund Three Arrows Capital, which has been ordered to liquidate in the British Virgin Islands by a court, according to Sky News.

Created in 2012 by former Deutsche Bank trader Su Zhu and investor Kyle Davies, the firm has taken bullish bets on crypto, but is now facing a liquidity crisis amid a wider crypto selloff. In particular, the recent collapse of the algorithmic stablecoin TerraUSD heavily impacted Three Arrow Capital and its ability to meet its target goals, as billions of dollars were wiped from crypto markets.

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