KingData News: After filing for bankruptcy, Three Arrows Capital made it clear that it had no significant funds to cover its liabilities. The most recent $1 million transfer from OKX shows that the co-founders of 3AC may have some funds hidden across private wallets and cryptocurrency exchanges not tied to their names. Thanks to the decentralized nature of the industry, it is extremely hard to unequivocally tell how many assets an entity has left and if they have anything hidden on their personal ledgers.

KingData News: Crypto lender Voyager Digital is planning to settle with two top executives over their handling of loans made to crypto hedge fund Three Arrows Capital (3AC) following an internal probe, according to court filings submitted on Monday. In March, CEO Stephen Ehrlich and then-Chief Financial Officer Evan Psaropoulos agreed to allow Voyager to lend Three Arrows nearly $1 billion in crypto with very little financial disclosure from the fund, according to the filings. A special committee comprised of two of Voyager’s board members found that pursuing negligence claims against Ehrlich and Psaropoulos, who is now Voyager’s chief commercial officer, would be difficult and expensive and that Voyager would be unlikely to recover much. Instead, Voyager is suggesting a settlement that would have Ehrlich pay $1.1 million in cash to Voyager, pursue claims under directors and officers insurance policies for as much as $20 million and allow Ehrlich and Psaropoulos to continue in their current roles.

KingData News: The Commodity Futures Trading Commission and the Securities and Exchange Commission are now looking into whether Three Arrows Capital violated rules by misleading investors about the strength of its balance sheet and not registering with the agencies, according to two people familiar with the matter. Scrutiny from the agencies, both of which declined to comment, can lead to monetary fines and other penalties for firms and individuals.

KingData News: The Singapore High Court on Monday granted a petition by advisory firm Teneo, which in June was appointed by a British Virgin Islands court to liquidate Three Arrows, to recognize the liquidation order in the country, people with knowledge of the matter said. The Singapore ruling gives the liquidator the right to request access to any financial records kept locally by the fund, such as bank accounts, property, cryptocurrencies, NFTs and company shares. Teneo currently has control of $40 million of Three Arrows Capital's assets, but the bonds could exceed $2.8 billion.

KingData News: Liquidators overseeing the wind-down of Three Arrows Capital may soon try to force founders Kyle Davies and Su Zhu to help clean up the mess left behind by the crypto hedge fund’s collapse. Zhu and Davies have so far provided “rather selective and piecemeal disclosures” about the fund’s assets, attorney Adam Goldberg said on behalf of the liquidators in a bankruptcy hearing Thursday. Without further cooperation, lawyers will try to compel the founders to turn over more information with assistance from US Bankruptcy Judge Martin Glenn, he said.

KingData News: At times contrite and at times defensive, Davies and Zhu, speaking from an undisclosed location, described a systemic failure of risk management in which easy-flowing credit worsened the impact of wrong-way. Zhu Su said in an interview, "There were rumors that I withdrew my investment before the crisis broke out at Three Arrows, but I actually invested more money at that time. Two of Three Arrows Capital's co-founders, ZhuSu and Kyle Davies, are currently on their way to Dubai.

KingData News: Liquidators overseeing the winding down of Three Arrows Capital have so far gained control of assets worth at least $40 million, or just a tiny fraction of what the crypto hedge fund’s creditors say they’re owed. The fund’s assets mainly consist of bank accounts, cryptocurrencies, nonfungible tokens and stakes in digital-asset firms, a British Virgin Islands-based liquidator from Teneo said in US bankruptcy court filings. The liquidators believe Kyle Davies and Zhu Su, Three Arrows’ founders, are still in possession or control of “certain digital assets and bank accounts,” Teneo’s Russell Crumpler said in a sworn declaration Wednesday.

KingData News: According to the affidavit, the Deribit shares are believed to be worth $500 million, or half of 3AC’s remaining assets. However, a source with knowledge of the matter told Cointelegraph that the value of 3AC’s Deribit shares is closer to $25 million rather than $500 million, suggesting that creditors will be left holding the bag on their loans to the failed hedge fund. According to the source, who chose to remain anonymous, the discrepancy between the two amounts is due to the type of exposure 3AC has to Deribit. They claim that 3AC does not directly own shares in Deribit but instead owns shares in a Singapore Special Purpose Vehicle (SPV) called 3AC QCP Deribit SPV. The source further explained that the SPV owns over 23% of Deribit, making it the largest external shareholder.

KingData News: Three Arrows Capital (3AC) borrowed and repaid more than $2 billion from crypto services firm Blockchain.com over the span of almost four years before its bankruptcy, documents seen by The Block show. The affidavit shows that Blockchain.com and 3AC signed a master loan agreement (MLA) effective June 13, 2019. Blockchain.com sent 3AC a demand notice for its outstanding loans on June 14, and 3AC defaulted on its payments after failing to meet a June 16 deadline. The affidavit mentions that while 3AC had made partial loan repayments to Blockchain.com, the unpaid amounts are "substantial."

KingData News: Collapsed crypto hedge fund Three Arrows Capital (3AC) owed 27 crypto companies $3.5 billion, according to court documents published today by 3AC's liquidators. The largest creditor on the list is Genesis Asia Pacific Pte Ltd., a unit of the brokerage subsidiary of Digital Currency Group (DCG), which had lent $2.3 billion to 3AC. Genesis CEO Michael Moro recently said that DCG had taken on some of Genesis’ liabilities.

KingData News: Genesis Asia Pacific Pte Ltd, a division of the crypto lender owned by Digital Currency Group, lent $2.36 billion to collapsed hedge fund Three Arrows Capital (3AC). The company’s loans to 3AC had a weighted average margin requirement of over 80%, which 3AC had been unable to meet, prompting Genesis to sell its collateral. Documents obtained by The Block highlight the $2.36 billion outstanding loan balance owed to Genesis by 3AC. They also show that the debt is undercollateralized, and that Genesis tried to recover some of its loans by commencing arbitration proceedings against 3AC through the American Arbitration Association (AAA) in New York last month. Genesis, however, appears to have paused the arbitration process after the appointment of advisory firm Teneo to oversee 3AC’s liquidation in late June.

KingData News: According to Soldman Gachs, a self-proclaimed Three Arrows creditor, he reviewed the complete list of Three Arrows Capital creditors and noted that Zhu Su, co-founder of Three Arrows Capital, has filed a $5 million claim against Three Arrows Capital. In addition, ThreeAC Limited, a member of the Three Arrows Capital group, has also filed a claim for $25 million, and other creditors include DCG, Voyager, Algorand, DeFianceCapital, CelsiusNetwork, CoinList, Galaxy, SBICrypto, BlockFi, Moonbeam, and BitGo. The total value of all claims is $2.8 billion with more to come. Some claimants have only filed for $1 with the right to increase.

KingData News: Three Arrows’ liquidators are working to get Singapore courts to recognize the British Virgin Islands liquidation order against it, in order to preserve the company's Singapore assets. The liquidation process of Three Arrows Capital is going to move to Singapore next, if lawyers representing the British Virgin Islands (BVI)-based liquidators are successful. If Teneo’s lawyers are successful, Teneo would be able to secure Three Arrows’ assets in Singapore for the hedge fund’s creditors, lawyers said.

KingData News: Teneo will host the first meeting of 3AC’s creditors on July 18, sources tell The Block. The firm has also launched a dedicated website for 3AC creditors. The meeting will be hosted by financial advisory firm Teneo, which is the court-appointed liquidator of 3AC, the sources said. Teneo has created a dedicated website for creditors to update them and the public on the latest developments around the 3AC's liquidation process. On July 1, 3AC filed Chapter 15 bankruptcy in the Southern District of New York, seeking protection from creditors. Earlier today, a judge in the Southern District of New York's bankruptcy court granted an order for provisional relief, giving the joint liquidators of Teneo control of known assets and granting the ability to serve subpoenas to founders and firms with pertinent information.

KingData News: In response to Zhu Su social media content, Hasu, Head of Strategy at Flashbots, tweeted that it claims Starkware equity had a token warrant that expired on July 5th, liquidator didn’t exercise the warrant, now Starkware tokens lost. Previously, Zhu Su disclosed two emails between his attorney and Three Arrows' creditors on his personal social media, which showed that the creditor, Russell, had pretended to help and negotiated a liquidation settlement with Zhu Su, which was later not fulfilled, and submitted the information provided by Three Arrows Capital's side during the coordination process to the U.S. court.

KingData News: Blockworks tweeted that Three Arrows Capital co-founders Su Zhu and Kyle Davies will not be present at today's court hearing in New York.

KingData News: Shu Su, co-founder of Three Arrows Capital, tweeted that, unfortunately, sadly, our good faith to cooperate with the Liquidators was met with baiting. Hope that they did exercise good faith wrt the StarkWare token warrants. The emails show that Russell, the creditor, pretended to provide assistance and negotiated a liquidation solution with Zhu Su, but then failed to do so and submitted the information provided by Three Arrows Capital in the coordination process to the U.S. court. According to counsel for Three Arrows Capital, the failure of the creditors to honor the StarkWare equity offer has resulted in a material loss to the company, and the rights of its creditors, investors and shareholders of the company will be adversely affected as a result. This is the first time since June 15 that Zhu Su has spoken out on social media. As previously reported, Three Arrows Capital's lawyers said that Zhu Su and Kyle Davies, the founders of Three Arrows Capital, have fled Singapore and their current whereabouts are unknown.

KingData News: A New York court has approved an emergency hearing for creditors on July 12 due to Three Arrows Capital's alleged failure to cooperate with the liquidation process. Already, NFTs belonging to Three Arrows’ NFT fund Starry Night have been transferred to a new wallet for unexplained reasons. The creditors are seeking to freeze Three Arrows’ assets. But first, they are requesting the court to compel Three Arrows’ founders to list out the fund’s assets. Lawyers acting on behalf of the creditors said that the founders of the fund “have not yet begun to cooperate with the [proceeding] in any meaningful manner.”

KingData News: Berkshire Hathaway stands to lose $6 billion from unsecured loans it made to embattled crypto hedge fund Three Arrows Capital, in documents reviewed by Bloomberg.

KingData News: TPS Capital clarified on Twitter that TPS is run by a separate management team and operates its main OTC business without the involvement of 3AC or its principals. It is important to note that information barriers between the two firms were established and TPS acted solely as an intermediary in such transactions. In addition, TPS said the company is currently a creditor of 3AC and, like many other creditors, we also had no visibility into 3AC's strategyperformanceor financials.

KingData News: Michael Moro, chief executive officer of Genesis Global Trading, a Digital Currency Group (DCG) company, said we previously stated in June that we mitigated our losses with respect to a large counterparty who failed to meet a margin call. Now that the BVI bankruptcy process has commenced, we can confirm that the counterparty was Three Arrows Capital. DCG has assumed some of the losses, and Michael Moro said the loans to this counterparty had a weighted average margin requirement of over 80%. Once they were unable to meet the margin call requirements, we immediately sold collateral and hedged our downside.

KingData News: Three Arrows Capital has transferred a total of 10 million USDT and 20 million USDC to Kucoin in the last 24 hours, according to PeckShield monitoring.

KingData News: Three Arrows Capital's holdings in NFT are currently worth more than $7.52 million, according to Dune Analytics. Among the 15 Three Arrows Capital affiliated addresses counted, there are still 1 Bored Ape Yacht Club, 11 CryptoPunks, 330 Art Blocks Curated and other NFTs. As previously reported, representatives of Three Arrows Capital have filed for bankruptcy protection under Chapter 15 of the U.S. Bankruptcy Code in a New York court to prevent creditors from seizing the company's assets in the United States.

KingData News, Voyager tweeted that we currently have approximately $1.3 billion of crypto assets on our platform, plus claims against Three Arrows Capital of more than $650 million. We also have over $350 million of cash at Metropolitan Commercial Bank. As previously reported, Voyager announced that its operating subsidiary, Voyager Digital LLC, had issued a notice of default to Three Arrows Capital (3AC) due to 3AC's failure to repay a previously disclosed loan of 15,250 BTC and $350 million.

KingData News: Terra researcher FatMan tweeted that a verified source has confirmed that Su Zhu is urgently trying to sell his $35m house in Singapore, currently held in his son's trust. He is requesting the funds to be transferred to a bank account in Dubai and has no intention of paying creditors with the proceeds from the sale.

KingData News: Blockchain.com, a creditor of Three Arrows Capital, said it is cooperating with ongoing investigations into the troubled crypto hedge fund. Blockchain.com and Deribit, a crypto derivatives exchange, confirmed that they are among creditors that sought for the liquidation of Three Arrows at a court in the British Virgin Islands, according to a court filing and representatives at the two companies. The court made the liquidation order on Monday and has appointed two partners at consulting and advisory firm Teneo to handle the process, a person familiar with the matter has told Bloomberg News. We believe Three Arrows Capital has defrauded the crypto industry and intend to hold them accountable to the fullest extent of the law, a spokesperson for Blockchain.com said in an emailed statement. We have filed for the immediate liquidation of all of Three Arrows Capital's global assets.

KingData News: MAS said that Three Arrows Capital(3AC) provided false information. In previous news, crypto venture capital firm Three Arrows Capital is moving its headquarters from Singapore to Dubai, United Arab Emirates.

KingData News : According to Sky News, a court in the British Virgin Islands has ordered the liquidation of Singapore-based Three Arrows Capital. That partners from Teneo Restructuring in the British Virgin Islands has been lined up to handle the insolvency of the Singapore-based firm, which was set up in 2012 by Su Zhu and Kyle Davies.

KingData News: Voyager has defaulted on approximately $670 million in unsecured loans to 3AC, and Alameda is bailing out by providing the loans. In previous news, Crypto brokerage Voyager Digital (VOYG.TO) has issued a notice of default to Three Arrows Capital (3AC) after the beleaguered hedge fund failed to make the required payments on its loans of 15,250 bitcoins and $350 million in USDC, worth about $670 million at current prices.

KingData News: Crypto brokerage Voyager Digital (VOYG.TO) has issued a notice of default to Three Arrows Capital (3AC) after the beleaguered hedge fund failed to make the required payments on its loans of 15,250 bitcoins and $350 million in USDC, worth about $670 million at current prices. Voyager also announced it has drawn down $75 million of the emergency $200 million cash and USDC credit line provided by Alameda Ventures. That facility also included a revolver of 15,000 bitcoins (BTC). As of Monday morning, the company has $137 million of cash and crypto assets on hand. The exchange has also retained investment banker Moelis & Co. as a financial adviser. (CoinDesk)

KingData News: Terra researcher FatMan twitted: "Su Zhu is now back in Singapore working with a law firm specializing in white collar crime. " FatMan speculates that 3AC may have broken the law in the forced liquidation process (8 Blocks Capital previously accused 3AC of misappropriating at least $1 million of its funds). In addition, FatMan expects that the majority of 3AC's current assets are illiquid equity investments in Deribit and Starkware.Its total assets are estimated at $400 million and its liabilities at $2 billion, resulting in net assets of approximately $1.6 billion in liabilities.

KingData News: Crypto exchanges FTX, Deribit and BitMEX have liquidated Three Arrows Capital's positions over the past week after the crypto hedge fund known as 3AC failed to meet margin calls. A BitMEX spokesperson confirmed that the exchange has liquidated 3AC's positions. They declined to comment on the owed amount but said BitMEX's legal department is in touch with 3AC on the next steps.

KingData News: Dogecoin co-founder Billy Markus tweeted urging the crypto community to collectively learn from the failures of Celsius, Three Arrows Capital (3AC) and LUNA.

3AC has been in constant turmoil recently, and its capital chain is tight. The following are the investment projects of Three Arrows Capital, pay attention to the unlocking situation and avoid risks. Check the details：

KingData News: On June 17, DeFiance Capital founder Arthur said on his social media sites that he is doing his best to resolve the issue. "We are not done and is actually actively working to resolve the situation. My and our team behaviour and action is consistent and this will not change." According to market sources, DeFiance Capital has a close relationship with Three Arrows Capital, and DeFiance Capital may be severely affected by the liquidity crisis of Three Arrows Capital.

KingData News: Terra Research Forum member FatMan tweeted, "A verified source has confirmed that 3AC borrowed money from multiple funds and counterparties and put it into Anchor to generate yield without telling them. Their UST position was confirmed to be at least nine figures before the Terra depegging event." FatMan said that more counterparties have reached out confirming that 3AC offered them various treasury management plans - a few openly included Anchor, but most didn't. 3AC also had exposure to USDD and they were forced to sell their position earlier this week triggering a small depeg.

KingData News: In a tweet, Avalanche clarified the market speculation arising from the recent liquidation of Three Arrows Capital. "Due to recent speculation, we’d like to clarify that 3AC has never in any way managed, used, or custodied any Avalanche Foundation treasury funds." Avalanche said on Twitter.

KingData News: Crypto staking and yield generation platform Finblox has imposed a $1,500 monthly withdrawal limit and paused rewards in light of uncertainty surrounding crypto hedge fund Three Arrows Capital, which made a $3.6 million investment in the Hong Kong-based platform last December. According to a statement shared on Twitter, Finblox has made the changes as it evaluates the impact of Three Arrow Capital's reported issues. "We have been cooperating with over eight partners and protocols, including Three Arrows Capital, to generate yields and spread the risk as evenly as possible," the Finblox statement read. "Finblox will do everything in its power to protect users' funds and reinstate our services in full," it added. The Finblox website states that it offers "peace of mind with $45M insurance on assets." (CoinDesk)

KingData News: Crypto lender BlockFi confirmed Thursday it recently liquidated a “large client” amid reports that troubled crypto hedge fund Three Arrows Capital failed to meet margin calls. “We exercised our best business judgment recently with a large client that failed to meet its obligations on an overcollateralized margin loan,” CEO Zac Prince tweeted. “We fully accelerated the loan and fully liquidated or hedged all the associated collateral.” Prince’s tweet followed a Financial Times report that Three Arrows – a massive crypto venture capital and trading fund – was liquidated by BlockFi and other top-tier crypto lending firms after it failed to top up its loan collateral. (CoinDesk)

KingData News: On June 16, 8 Blocks Capital Head of Trading Danny said that 3AC embezzled over 100 million dollars without permission in response to margin calls and liquidation risk. Danny tweeted: "From Nov 2020, we entered into an agreement with 3AC in which we would pay them a fee to use their trading accounts. As a delta neutral market maker in the crypto markets, we are very sensitive to trading fees. So our agreement with them was: we withdraw whenever we want. 100% of the PNL belongs to us. They are never to move our funds without permission (increases the risk of our positions getting liquidated) and in return, we pay them fees for their service. On June 12th, with the market dropping and needing some funds from the account for positions on other exchanges, we asked for a withdrawal from the Ops team which was honored. On June 13th, with the continuation of the drop, we asked for a bigger withdrawal. There was no reply but we didn't think much of it at the time. After a while, the market stablized so we no longer needed the funds. We thought maybe they were just busy. Fast forward to 24 hours ago, our funds monitoring script noticed that ~1m was missing from our accounts with them. We reached out to KyleLDavies, co-founder of 3AC, and the Ops team on Telegram about the missing funds- no replies. We tried calling them- they were online and they didn't pick up. What we learned is that they were leveraged long everywhere and were getting margin-called. Instead of answering the margin calls, they ghosted everyone. The platforms had no choice but to liquidate their positions, causing the markets to further dump."

KingData News: According to the Etherscan block browser, 4 transactions totaling 13,478.31 ETH at an address suspected to be associated with Three Arrows Capital (0x716034C25D9Fb4b38c837aFe417B7f2b9af3E9AE) were liquidated in nearly 1 hour.

KingData News: PeckShield Alert tweeted that about 3,346 $ETH has been liquidated from 0x716034C25D9Fb4b38c837aFe417B7f2b9af3E9AE (supposedly related to 3AC).

KingData News: Crypto lending platform Nexo tweeted that it has $0 exposure to Three Arrows Capital. Nexo has always differentiated itself from others as being a very conservative lender with stringent risk management and strict over-collateralization requirements, regardless of borrowers' reputation. Nexo said, "Оver 2 years ago, we declined 3AC’s request for unsecured credit. We learned that they acquired it elsewhere. It is now obvious that Nexo’s approach was correct. This is why our assets exceed our liabilities."

Terra Research Forum member FatMan tweeted, "If you're ever feeling down or angry at yourself about UST/LUNA, don't beat yourself up too much over it. It was highly sophisticated deception. A lot of brilliant minds fell for it. For example, Three Arrows Capital bought 10.9M locked LUNA for $559.6m - it's now worth $670.45."

KingData News: According to Zapper data, the address marked as Three Arrows Capital in Nansen (0x4093fbe60ab50ab79a5bd32fa2adec255372f80e) has a collateral position in Aave V2 of 211,999.12aWETH (worth $235 million) and a total of $183 USDC+USDT borrowing debt. This collateral position will face liquidation if ETH drops to near $1014. The address is now actively paying off its debt, taking out ETH with USDT/USDC, converting ETH to USDT/USDC via "sinofate.eth", so on and so forth. In the last 24 hours, about 50kETH have been sold at this address.

KingData News: According to well-placed sources, Three Arrows Capital is in the process of figuring out how it can make itself whole with lenders and other counter-parties after it was liquidated by top tier lending firms in the space. Sources declined to share the names of those firms on the record for fear of reprisal, but three people said the liquidation totaled $400 million among lending firms. They added that the firm has maintained limited contact with its counter-parties since being liquidated. The liquidation event is just one of several setbacks by the firm, which has backed projects like Avalanche, Polkadot, and Ether which are all down 57%, 38.8%, and 47% over the last 30 days respectively. (The Block)

KingData News: Three Arrows Capital is in second place on Bitfinex's monthly loss chart for May, with a total loss of $31.37 million. The account is linked to Zhu Su's Twitter account.