Cardano Ecosystem

The Defiant




Three Arrows Capital Owes Blockchain.com $270M

Another creditor of beleaguered crypto hedge fund Three Arrows Capital is owed $270M.

Three Arrows Capital Owes Blockchain.com $270M

It’s the gift that keeps on giving, or rather, people kept on giving to Three Arrows Capital. 

The saga goes on as revelations about creditors of the crypto hedge fund continue to pour in. 

The latest twist — Three Arrows Capital (3AC) owes $270M to Blockchain.com, as reported by CoinDesk. Blockchain.com is a crypto platform that features an exchange, a wallet, and an institutional arm.

The news comes eight days after the Monetary Authority of Singapore released a statement outlining 3AC’s failures to comply with regulations. And just one day earlier, The Defiant reported on the official liquidation of the hedge fund. 

Fall From Grace

It’s been an unbelievable fall from grace for 3AC, whose founders were generally regarded as wizards of the past crypto bull run. Comments on co-founder Su Zhu’s podcast appearances lauded the hedge fund manager’s trading abilities and his tweets have become the stuff of legend after 3AC’s collapse.

Zhu also coined the phrase “supercycle” —  the idea that institutional adoption of digital assets would prevent the crypto markets from repeating the collapses of 2018 and 2014.

The fallout continued after Voyager Digital announced 3AC’s default on a $700M loan on June 27 and Kyber Network called out 3AC for not returning $7.9M in treasury funds on June 23. And all while the fund’s co-founder, Su Zhu, was tweeting positively as 3AC dumped stETH.  

With the latest news that Blockchain.com may also be on the losing end after loaning 3AC money, the crypto world is still grappling with the apparent total disregard for risk management at one of its formerly most influential players.


World’s First Multi-Token ISPO — By Genius X - Starts on 12th of September, epoch 363!

Genius X, a revolutionary launchpad and business accelerator helping Web3 startups attain speed, scale, and edge, is thrilled to announce the world’s first Multi-Token ISPO.I WANT TO KNOW MORE!

Read Original Article on The Defiant



Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.

More from The Defiant

See more
Synapse to Roll Out Blockchain as Part of Major Upgrade
The Defiant
Synapse to Roll Out Blockchain as Part of Major Upgrade




Related News

See more
WingRiders Governance Token

Featured News

See more

Featured ISPOs

Genius X

250M $GENSX · Ends in 09/12/2022

Featured Projects

Ada Handle
Ada Handle



Featured Events

Cardano Summit 2022
Cardano Summit 2022

11/20/2022 - 11/22/2022 · Lausanne, Switzerland

Bringing Fixed Assets (CNFT & CNT) Lending & Borrowing to CardanoWorld’s First Multi-Token ISPO — By Genius X