Three Arrows Capital Owes 27 Crypto Companies $3.5 Billion.

0 267

Crypto hedge fund, Three Arrows Capital, popularly known as 3AC, according to court documents, owed 27 crypto companies $3.5 billion. The court documents were published by 3AC’s liquidators.

The largest creditor on the list is Genesis, a unit of the brokerage subsidiary of Digital Currency Group, which had lent $2.3 billion to 3AC. This accounts for approximately 65% of the total debt of 3AC. Voyager Digital LLC, which recently filed for bankruptcy, follows Genesis with a loan of more than $685 million; to 3AC in the form of Bitcoin and Ether.

Other high-profile creditors of 3AC include DRB Panama Inc., the parent company of crypto exchange Deribit. Which lent 1,300 BTC and 15,000 ETH, worth around $51 million at current prices; Celsius Network (which lent around $75 million in USDC); CoinList Services ($35 million in USDC) and FalconX ($65 million).

The details of the 3AC loans were publicly uploaded online by Teneo, the firm appointed last month to oversee 3AC’s liquidation. The document outlines claims against 3AC, which filed for Chapter 15 bankruptcy in New York a few days after a court in the British Virgin Islands appointed Teneo as liquidator.

-Nairametrics.

Leave A Reply