Crypto hedge fund Three Arrows files for US bankruptcy
— Authorities, British, Respond, 650mn, Rights, 1tn, Used borrowing, Market value, Singapore reprimanded, Management threshold — 1 min read
Three Arrows Capital has filed for bankruptcy in the US, highlighting the reach of the prominent crypto investment firm’s borrowings across the industry. The Chapter 15 bankruptcy filing in Manhattan federal court late on Friday came just days after Three Arrows was pushed into liquidation in the British Virgin Islands. A “significant number of creditors” are expected to make claims against the hedge fund. The failure of Three Arrows is the latest sign of how this year's turmoil in digital asset markets has severely wrongfooted some of the industry's biggest players. It also highlights how trouble at one firm can ricochet across the sector due to opaque links between investors, crypto exchanges and lending firms. Three Arrows did not respond to a request for comment on its liquidation Source