3AC

Voyager Digital has announced the recovery of $484.35 million from settlements with FTX, Three Arrows Capital (3AC), and Directors and Officers (D&O) insurance. The announcement was part of a status update submitted to the United States Bankruptcy Court for the Southern District of New York, outlining the efforts to recover and allocate assets to creditors following the company’s financial decline. $450 Million FTX Settlement and Major Recoveries According to an April 9 filing, approximately $450 million of the reclaimed funds…

3AC co-founder Kyle Davies remains unapologetic for the downfall of 3AC, asserting his focus on future endeavors rather than past failures.  Unapologetic Stance Three Arrows Capital (3AC) founder Kyle Davies is not at all apologetic for the collapse of his crypto hedge fund. In an interview with Laura Shin for the Unchained Podcast, Davies exhibited a lack of remorse for 3AC's collapse, dismissing it as a common occurrence in business.  With an accompanying laugh, Davies stated: “Am I sorry for…

Singapore's leading fiscal authority, MAS has denied licensing a handful of recently collapsed crypto firms often linked to the nation. MAS Clears Regulatory Misconceptions TerraForm Labs, Luna Foundation Guard, Vauld, and Three Arrows Capital are among the platforms in question here. Of late, these firms have all experienced significant turbulence due to the ongoing market volatility as well as other issues. Another thing they have in common is ties to the Southeast Asian country Singapore, as the media often touts…

Crypto lender Voyager Digital’s native token, VGX embarked on a remarkable rebound after the 3AC court verdict. While this might be an odd coincidence, this makes for a surprising turn of events, given both platforms’ shared troubles over the past few weeks.  The Voyager-3AC History Like several DeFi platforms in recent times, Voyager has encountered its share of financial challenges amidst the failing market. Just last week, the platform filed for Chapter 11 bankruptcy at a court in New York.…

Leading crypto hedge fund Three Arrows Capital (3AC) has fallen into liquidation. Sky News reported today, citing a person with direct knowledge of the matter. The source requested to remain anonymous because they do not have the clearance to discuss the matter publicly. According to the source, a British Virgin Islands court ordered the liquidation. Partners of New York-based Teneo Restructuring will handle the company’s insolvency, the source added. The restructuring company is, however, in the early stages of the…

Cryptocurrency brokerage platform Voyager Digital recently reduced its daily withdrawal limit down to $10,000. That’s a 60% drop from its previous $25,000 limit, prior to its financial problems relating to Three Arrow Capital (3AC). Voyager published its new withdrawal limit on its site in an update on Wednesday. It states that users can withdraw $10,000 within a 24-hour period, with a maximum of 20 withdrawals. The news follows Voyager’s worrying reveal that it had over $700 million in exposure to…

The crypto venture capital firm Three Arrows Capital has now confessed that it’s in deep financial trouble. It is considering selling its assets or getting a bailout by a larger company to stay afloat. Desperate Times for 3AC As reported by the Wall Street Journal, company co-founders Su Zhu and Kyle Davies have confirmed such bailout considerations. They are both speaking with legal and financial advisors to develop a solution for the investors and lenders they owe. Their troubles are…

Three Arrows Capital (3AC), one of the largest crypto venture capital firms, has reportedly stopped communicating with multiple partners for which it manages money. This comes amid growing rumors that the company is insolvent, hastily paying off debts similar to Celsius. Silence From 3AC The first partner to speak out was Danny Yuan, Head of Trading at crypto market maker 8 Blocks Capital. In a Twitter thread on Wednesday, he explained that 3AC had breached an agreement with his firm…