Crypto Hedge Fund Three Arrows Capital Wallet Removes $33M of Staked Ether From Curve Pool

Crypto Hedge Fund Three Arrows Capital

A wallet belonging to insolvent crypto hedge fund Three Arrows Capital has removed $33 million worth of staked ether (stETH) from the Curve pool, according to on-chain data. The Singapore-based fund, which filed for bankruptcy in July, also removed 200 bitcoins (BTC), $4 million in tether (USDT) and $4 million worth of wrapped ether (wETH) in liquidity from Convex, a … Read more

Bitcoin dropped below $20,000 to the lowest level since mid-July as investors dump risk assets

Bankruptcy filings from Celsius and Voyager have raised questions about what happens to investors’ crypto when a platform fails.

Bitcoin dropped below $20,000 on Monday as investors dumped risk assets after the Federal Reserve affirmed its commitment to an aggressive tightening path. The world’s largest digital currency tumbled 5% from Friday’s close to hitting a low of $19,526 overnight, a level unseen since July 13, according to Coin Metrics data. Other major digital tokens also … Read more

Crypto Exchange Zipmex Appoints Restructuring Firm to Forge Recovery Plan

Crypto Exchange Zipmex Appoints Restructuring Firm to Forge Recovery Plan

Singapore-based cryptocurrency exchange Zipmex has appointed a restructuring firm to assist with a recovery plan after it was forced to halt withdrawals and file for protection from creditors in July. Australian firm KordaMentha will work with the exchange’s solicitors, Morgan Lewis Stamford, on how best to reorganize the company and preserve assets, the exchange said in a statement on its website. … Read more

Bitcoin Soars, but Don’t Get Excited

Bitcoin crypto

BitcoinBTCUSD +0.45%  and other cryptocurrencies were rallying on Thursday as investors piled back into risk-sensitive assets following the Federal Reserve’s latest decision on monetary policy. But analysts don’t see this crypto rally as having strong legs and predict prices are likely to stagnate at current levels. The price of Bitcoin jumped 8% over the past 24 hours … Read more

Founders of bankrupt crypto hedge fund 3AC go missing, as investors try to recoup assets

Crypto Stablecoin Market

The co-founders of failed crypto hedge fund Three Arrows Capital appear to be on the run from creditors, according to court documents recently filed in New York. Lawyers representing the creditors say the physical whereabouts of Zhu Su and Kyle Davies, who started Three Arrows in 2012, are “currently unknown,” ahead of a hearing that is scheduled … Read more

Crypto brokerage Voyager Digital files for Chapter 11 bankruptcy protection

Voyager Crypto App: Buy BTC ETH SHIB

KEY POINTS Voyager commenced bankruptcy proceedings in the U.S. Bankruptcy Court for the Southern District of New York on Tuesday. The company suffered huge losses from its exposure to crypto hedge fund Three Arrows Capital, which went bust last week. Sam Bankman-Fried’s Alameda Research is listed as Voyager’s largest creditor, with an unsecured claim of $75 … Read more

Another crypto lender Vauld pauses withdrawals as market crash takes its toll

Cryptocurrency bitcoin crash

Key Points: Crypto lender Vauld on Monday paused all withdrawals, trading and deposits on its platform and is exploring potential restructuring options, the company said. Vauld said it is facing “financial challenges” due to “volatile market conditions” which has led to customers withdrawing more than $197.7 million from the platform since June 12. Vauld is the latest … Read more

Five reasons why bitcoin had its worst quarter in more than a decade

Bitcoin crashes 60% - will the cryptocurrency crumble or come back with a vengeance?

Key Points: Bitcoin lost about 58% of its value in the second quarter of 2022, posting its worst quarterly performance since 2011. Macroeconomic issues, such as rising interest rates and rampant inflation, led to a sell-off in stocks and filtered through to the cryptocurrency market. But the industry has also seen a wave of liquidity … Read more

Bitcoin just had its worst month on record

Cryptocurrency bitcoin crash

Key Points: Bitcoin just finished its worst month in the 12 years that it’s been available on exchanges, losing more than 38% of its value in June as of Thursday afternoon. Ether, the world’s second-biggest cryptocurrency by market capitalization, ended the same period down by about 47%. Bitcoin just finished its worst month on record, losing more than 38% of its value … Read more

Crypto hedge fund Three Arrows Capital plunges into liquidation as market crash takes toll

Cryptocurrency bitcoin crash

Key Points: Major cryptocurrency hedge fund Three Arrows Capital has fallen into liquidation, a person with knowledge of the matter told CNBC. Teneo Restructuring has been brought on board in the last few days to deal with the liquidation process. A slump in digital currency prices, which has seen billions of dollars wiped off the … Read more