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Three Arrows Capital has to pay - but cannot

 


Three Arrows Capital (3AC) becomes the next victim of the crypto crash.

According to Sky News , the big hedge fund is beginning its liquidation. External experts have joined the team for this purpose.

In a liquidation, all assets are sold to pay off outstanding debts. Basically it is the dissolution of a company.

The firm was unable to pay its approximately $670 million loan from digital asset manager Voyager Digital on Monday.

Triggered by the Terra Crash, 3AC is said to have gotten into financial difficulties. The hedge fund had staked large sums in UST and LUNA tokens,  the loss is said to be in the billions .

Three Arrows Capital is one of the most famous crypto hedge funds.

After Celsius and BlockFi , it is the third major player in the crypto sector to be on the brink of bankruptcy after mismanagement during the crisis.

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