Crypto hedge fund Three Arrows files for bankruptcy
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
CRYPTO hedge fund Three Arrows Capital has filed for Chapter 15 bankruptcy, a move that protects its US assets while a liquidation is carried out in the British Virgin Islands.
Representatives for Three Arrows filed the bankruptcy petition in New York on Friday, court papers show.
Chapter 15 bankruptcy filings stop creditors from seizing a company’s assets in the US.
A British Virgin Islands court ordered the liquidation of Three Arrows Capital earlier this week.
The fund, founded by former Credit Suisse traders Zhu Su and Kyle Davies, managed an estimated US$10 billion of assets as recently as March, according to blockchain analytics firm Nansen.
The law firm Latham & Watkins is representing Three Arrows in the US bankruptcy. BLOOMBERG
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
TRENDING NOW
Air India asks Tata, Singapore Airlines for funds after US$2.4 billion loss
Beijing’s calculated silence on the Iran war
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
