How Crypto Hedge Fund 3AC Borrowed $2.3 billion From Lending Firm Genesis
Failed crypto hedge fund Three Arrows Capital (3AC) has been in the spotlight because it has defaulted on debt obligations for multiple companies in the crypto space. As a consequence, big players in the space collapsed following 3AC into insolvency. Related Reading | Coinbase Rumors Going Insolvent Grow – Here’s What People Are Saying The crypto […]
Related News
In a recent development, bankrupt crypto lender Genesis has settled with defunct crypto hedge fund Three Arrows Capital (3AC), ending a months-long legal battle. According to court documents, Genesis will pay $33 million to resolve the more than $1 billion in claims asserted by 3AC against the Genesis Debtors. Genesis Resolves Dispute With 3AC The […]
Genesis Trading soldiers on after confirming 3AC exposure, while parent company Digital Currency Group assumes a portion of liability after losses. Digital Currency Group’s market maker and lending firm Genesis Trading has confirmed that it had investment exposure in the now-liquidated Three Arrows Capital (3AC).The insolvency and subsequent liquidation order of the embattled company sent shockwaves through the cryptocurrency space last week amid an ongoing downturn across crypto markets. A major talking point was the stake other prominent companies had in the now-defunct cryptocurrency....
3AC downfall has led to a multi-billion dollar cascade that has claimed the likes of Celsius, Voyager and many other crypto lending firms with exposure to the hedge fund. Three Arrow Capital (3AC), a Singapore-based crypto hedge fund that at one point managed over $10 billion worth of assets, became one of the many crypto firms that went bankrupt in this bear market. However, the fall of 3AC wasn’t purely a market-driven phenomenon. As more information surfaced, the collapse looked more like a self-inflicted crisis brought upon by an unchecked decision-making process.To put it concisely,....
Hedge fund firm Marshall Wace, with $55 billion in assets, is reportedly gearing up to launch a portfolio investing in the crypto sector. London-headquartered hedge fund firm Marshall Wace is planning investments in the crypto sector, the Financial Times reported Tuesday. Founded by Sir Paul Marshall and Ian Wace in 1997, Marshall Wace currently manages $55 billion in assets. The firm is launching a digital finance portfolio that will invest in privately owned, late-stage digital finance companies, the publication detailed, citing people familiar with the plan. It will target investments....
The hedge fund Goldentree, a firm with $41 billion in assets under management (AUM) has reportedly added the leading crypto asset bitcoin to its balance sheet. Unnamed sources detail that the American asset management firm leveraged bitcoin to diversify from traditional debt investment strategies. The wealth management firm allegedly has been looking for staff that understands blockchain technology and it’s possible Goldentree is circling distressed businesses within the crypto industry. Goldentree Asset Management Invests in Bitcoin: Report A recent report stemming from the....