3AC allegedly liable for $2.8B in creditor claims
The amount is likely understated as many of 3AC's borrowing details remain confidential. According to Twitter user @DrSoldmanGachs, a self-proclaimed creditor of troubled Singaporean crypto hedge fund Three Arrows Capital (3AC), the now-defunct entity allegedly owes $2.8 billion in claims, as discovered through a recent 3AC creditors meeting. In addition, the claim amount could be understated, as many have either not made their claim or have not disclosed their claim amounts for reasons of confidentiality.As told by DrSoldmanGachs, the meeting voted to elect a creditor committee comprising....
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So, I have spent the last few days at the Kraken headquarters in San Francisco with the legendary Jesse Powell, who I interviewed for the Bitcoin Knowledge Podcast, and the rest of the team and there is some very exciting news about the $500m MtGox bankruptcy. We discussed some of the logistics during the interview but there is even more actionable stuff, as discussed in the trustee letter, you can do today to claim your money! Kraken Now Accepts MtGox Creditor Claims Through Website, Offers Free Trades. SAN FRANCISCO, CALIF. - APRIL 21, 2015 - Kraken, a San Francisco-based Bitcoin....
Mt Gox creditors have waited for over three years to see some of their lost bitcoins returned, but the end is still not in sight. However, a number of them may be able to cash out soon since some hedge funds are now buying Mt Gox claims, offering 15 percent of the claims’ value in cash. How to Sell Mt Gox Claims. A website called Mygoxclaim, has been....
International hedge funds are said to be moving to purchase claims held by customers of failed bitcoin exchange startup Mt Gox. The Financial Times reported this morning that as many as four hedge funds are moving to buy claims related to the Japan-based bitcoin firm, seeking a possible windfall should creditors be made whole. Documents obtained by CoinDesk indicate that Argo Partners, a New York-based firm that focuses specifically on investing in failing or bankrupt companies, is among those seeking to purchase claims. Argo Partners did not immediately respond to a request for comment.....
Mt Gox customers can now receive bankruptcy distributions in Bitcoin, among several other benefits by becoming a user of the cryptocurrency exchange Kraken. According to the San Francisco-based Bitcoin exchange's official blog post, Kraken has begun the process of accepting Mt Gox creditor claims and is offering up to $1 million in free trade volume per creditor as a bonus for claiming funds through Kraken. With the support of Kraken, the Mt Gox's trustee has been able to create a system which will enable customers to file bankruptcy claims and receive compensation via a smooth and simple....