3AC is under increasing scrutiny following its massive collapse
filed in the Singapore High Court for recognition of the British Virgin Islands liquidation proceedings.The two made a $50 million down payment despite the fact that their hedge fund was in the process of underwater, according to the filing rumors. This also confirms earlier rumors about Zhu bragging about him owning the yacht despite not having it in person. The yacht was scheduled to be delivered to Italy within the next two months.
As reported by U.Today, rumors of 3AC’s insolvency started swirling in mid-June. In early June, the beleaguered hedge fund filed for bankruptcy after a court based in the British Virgin Islands ordered the firm’s liquidation. The court filing also shows that the hedge fund had roughly $600 million worth of exposure to the Terra blockchain, which imploded in May. However, Zhu and Davies kept investors in the dark about the extent of their exposure.
Notably, they put 3AC into liquidation without informing any of the shareholders or creditors. It took a while to get in touch with their lawyers after the founders went dark.About the authorAlex Dovbnya is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets.
BTC Analysts Predicts “Big Short Squeeze,” SHIB Gets Listed by Bittrex, Jed McCaleb Keeps His Last 5 Million XRP to Himself: Crypto News Digest by U.Today
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Toddler, who once spent nearly 700 days in hospital for heart defect, diesValentina Garnetti first gained notoriety in 2021 for spending most of her toddler life inside a hospital due to a congenital heart defect.
Weiterlesen »
We Spent a Week at a Luxe Italian Wellness Retreat That Replaces Carbonara With Daily HikesThe Ranch's new outpost outside of Rome brings Californian fitness to the continent. Did anything get lost in translation?
Weiterlesen »
You Won't Believe How Wes Bergmann Spent the Prize Money From His The Challenge: All Stars Win - E! OnlineAfter winning The Challenge: All Stars' third season, reality TV icon Wes Bergmann revealed to E! News what he bought—and how he's paying it forward for fans.
Weiterlesen »
Sofia Richie stuns in lavender bikini while on yacht with fiancéVacationing in St. Tropez, the model and her fiancé Elliot Grainge spent the afternoon on a yacht offshore of the iconic French Riviera resort town.
Weiterlesen »
Crypto lender Genesis lent $2.36 billion to Three Arrows CapitalDocuments obtained by The Block highlight a $2.36 billion outstanding loan balance owed to crypto lender Genesis by 3AC.
Weiterlesen »