Sun. Dec 4th, 2022

Crypto-peh hedge funds go bankrupt one after another

Cryptocurrency hedge fund 3AC, which recently fell into a liquidity crisis, eventually went bankrupt.

According to CoinDesk Dotcom on the 29th (local time), 3AC was ordered bankrupt by the British Virgin Islands court on the 27th.

The Virgin Islands court ordered partners from New York-based restructuring advisory firm Teneo to handle bankruptcy proceedings.

This decision was first reported by Sky News in the UK.

3AC was founded in 2012 by Suju and Kyle Davis, who spent years actively investing in the digital asset industry

It has continued to invest throughout non-expanded tokens, decentralized finance, blockchain companies, and cryptocurrency companies.

Then, as the cryptocurrency market has recently stagnated rapidly, it has suffered a great loss. Voyager Digital, a cryptocurrency broker, is facing liquidity crisis

He borrowed 15,250 bitcoins and 350 million dollars, but failed to repay them, and eventually fell into default.

Against this backdrop, Bitcoin’s market price fell 3.20% compared to 24 hours ago as of 2:30 a.m. on the 30th (Korea Standard Time)

It fell below $20,000 again, recording $19,985.75. Ethereum is down 7.48%, trading at 1,091.17.

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