The crypto hedge fund Three Arrows is liquidated

The crypto hedge fund Arrows Capital has been in liquidation and became the latest top-class victims of the credit crisis that covers the market for digital assets.

According to a person familiar with the matter, Teneo was appointed the “common liquidator” of Three Arrows this week by a court decision on the British Virgin Islands.

The step to the liquidation of Three Arrows takes place, since the shocks on the cryptom market have increased in the past few weeks, since global investors give speculative systems speculative due to concerns about slowing the global growth and decisions of the large central banks to drastically streamline monetary policy.

Three Arrows, based in Singapore and registration on the British Virgin Islands, is one of the best-known investors in the crypto area. The group did not react immediately to a request for comment on the appointment of liquidators, about which Sky News first reported.

Three Arrows failed to meet the lenders' claims at the beginning of this month to provide additional funds after his bets on digital currencies had become angry. It was operated by SU ZHU and his co -founder Kyle Davies and was known for his leverage bets on rising crypto prices. ZHU had set up a "super cycle" thesis in which an increasing mainstream acceptance meant that the prices would continue to rise without falling into a short-term bear market.

Bitcoin, the most active cryptocurrency, fell by more than 50 percent this year. Meanwhile, the market value of the TOP 500 crypto token from a maximum of $ 3.2 trillion died in November to less than $ 1 trillion.

At the beginning of this week, Canada's Voyager Digital announced that Three Arrows is a reminder for non -payment of a loan of around 660 million

The crypto loan blockfi and genesis based in the USA, two of the largest crypto finance service groups, also reduced their commitment to Three Arrows by taking collateral that the fund had stored to secure his borrowing.

The Teneo's liquidation team is led by Russell Crumpler and Christopher Farmer, who is familiar with the matter. The identity of the party that prompted the court decision was not published.

In addition to the market fears, the crypto exchange Coinflex frozen customer withdrawals last week in response to the break-in of market prices. In order to resume his business, Coinflex wants to collect money by issuing a new crypto with an annual return of 20 percent.

Other large companies are also under strong pressure, since a heavy cold has broken into once popular platforms that made it possible to achieve investors by borrowing their coins sky -high returns. The loan companies Celsius and Babel Finance were forced to set the withdrawals at the beginning of this month in response to the difficult conditions on the cryptom market.