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Blockchain.com Cooperating with Investigations Into Three Arrows

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Blockchain.com, a trusted creditor of embattled crypto hedge fund Three Arrows Capital, is cooperating with ongoing investigations into the hedge fund.
Blockchain.com alongside Derbit, a crypto derivatives exchange, are two of the few creditors that were responsible for seeking the liquidation of Three Arrows at a court sitting in the British Virgin Islands. The liquidation order was made by the court on Monday, 27th of June 2022. The Court also put two partners at Teneo, a consulting and advisory firm in charge of the process. A spokesperson at Blockchain.com confirmed the company has filed for the immediate liquidation of Three Arrows global assets citing cases of fraud.

The Monetary Authority of Singapore reprimanded Three Arrows for providing false information and managing more money than it should usually manage. These actions are currently being investigated by the central bank.

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The liquidation order would see an end to one of crypto’s famous hedge funds. Three Arrows was founded by Su Zhu and Kyle Davies, former AG traders at Credit Suisse Group, 10 years ago. According to Nansen, Three Arrows’ assets under management were estimated to be worth around $10 billion in March this year.

A partner at Solitaire LLP said Three Arrows is considering its options while seeking legal advice in the British Virgin Islands.

Blockchain.com, valued at $14 billion in March this year, has maintained that it remains liquid and in a strong financial position and as such, customers won’t be affected in any way.

Derbit, whose parent company is a shareholder in Three Arrows, stated that it is financially buoyant regardless of its debt. Three Arrows’ debts have also affected firms like crypto broker voyager Digital Ltd.

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  1. Pingback: Blockchain.com Cooperating with Investigations Into Three Arrows by Ekpedeme Nkanta – CryptoTvplus Events: NFT, DeFi, Bitcoin, Ethereum, Altcoin Events

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