ICYMI: BVI court orders liquidation of Three Arrows Capital: Sky News
A court filing on June 27 shows that a BVI court has ordered the liquidation of Three Arrows Capital, per a report.
A court in the British Virgin Islands has ordered the liquidation of Three Arrows Capital, according to aA court filing was made on June 27 to liquidate the firm.Started by Kyle Davis and Su Zhu, Three Arrows Capital grew to be one of the biggest crypto hedge funds. Yet it was hit hard by the sudden collapse of the Terra blockchain. Then, when the wider crypto market fell substantially, this caused further issues for the fund — and they failed to meet margin calls.
It wasn't long before crypto exchanges FTX, Deribit and BitMEX liquidated Three Arrows Capital's positions, according toOn June 15, Zhu tweeted,"We are in the process of communicating with relevant parties and fully committed to working this out."For more breaking stories like this, make sure to subscribe to The Block on© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only.
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