OpinionThree Arrows Capital and their Creditors?

Three Arrows Capital and their Creditors?

Three Arrows Capital and their Creditors: When the history of the last few months in crypto comes to be definitively written whoever takes on the task will naturally want to identify the principal heroes and villains of the story. Now in the case of the former pickings may be somewhat slim for the latter however they will be spoiled for choice. Because this sorry Saga has a cast list of baddies that’s longer than that of the entire Bond franchise. But if there is a prime Contender for the villain in Chief. The Ernest Stavro Blofeld the Dr. Evil of them all than three areas Capital may just have booked the gig and down will be in talks for the role of Chief henchmen.

Three Arrows Capital and their Creditors: In a nutshell, 3ac three arrows capital took a load of other people’s money and made outrageous hopium-fueled trades with it. Which then went bad blew some of it on a yacht and then ghosted their clients and creditors when things started to go south. From being masters of the cryptoverse three AC’s Founders Zusu and Carl Davis are now in hiding from a lot of very very angry people.

But this story is still a very long way from being over. That’s because it’s becoming clear that an increasing number of crypto companies were exposed to 3ac three arrows capital and had lent the money which they may not now get back. Now some like Celsius, Voyager, digital, and blockfi already have well-publicized troubles of their own. 

Three Arrows Capital and their Creditors: In just the last few days we’ve also learned that the crypto Mega company digital currency group is also owed money by 3ac three arrows capital as well as the algorand foundation. These are in addition to the unknown number of individuals whose money has also seemingly gone up in smoke.

Now as if this whole business wasn’t head-scratching enough. It turns out that three AC’s creditors also include Kyle Davis’s wife Zusu and 3ac three arrows capital between them. They’re claiming over 95 million dollars. The company and its Founders are claiming money that they are responsible for losing.

Three Arrows Capital and their Creditors: 3ac is currently in the process of being liquidated in the British Virgin Islands with outstanding claims totaling 2.8 billion dollars. If you need some context that’s more than double the whole in Celsius is balance sheet and it’s likely to increase from here. It’s more than likely that other well-known crypto entities will turn out to have been mixed up with 3ac. This means this Saga could have profound and long-drawn-out effects on the whole industry. 

Related: British court Virgin orders to liquidate 3AC

The liquidation process will involve the selling off of three ACS assets. Which includes big bags of BTC eth avax Soul Dot and Ave along with substantial Holdings of many lower cap altcoins and quite possibly a 50 million dollar yacht two just the sort of place for Super Villains to hang out.

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