Three Arrows Liquidators Seize $40 Million as Asset Probe Widens

Jul 22,2022
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.
On June 13, Zhu Su, co-founder of Three Arrows Capital, has removed ETH, AVAX, LUNA, SOL, NEAR, MINA and other Tokens from his Twitter profile. On June 15, sources revealed that the total liquidation amount of Three Arrows Capital on Deribit, BlockFi and other lending platforms was up to $400 million. This indicator provides a real-time tracking of news reports on Three Arrows Capital's liquidity crisis.
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