The notorious cryptocurrency hedge fund Three Arrows Capital (3AC) reportedly owes its creditors a whooping $2.8 billion as its legal battle with liquidators continues in the US.
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According to a tweet posted by an anonymous creditor @DrSoldmanGachs, the fund's list of creditors includes such giants as BlockFi, Celsius Network, BitGo, Algorand, CoinList, Galaxy Digital, DCG and many others. What is noteworthy is that the fund's co-founder Su Zhu is also listed among creditors and has even filed a claim for $5 million.
I've just seen the list of creditors to #3AC and noticed that @zhusu has filed a claim for $5 million. While being on the run, he has somehow found the time to diligently and ruthlessly fill out forms to pursue a claim against his own Fund. https://t.co/YFfWmYZOoM— Soldman Gachs ⌐◨-◨ (@DrSoldmanGachs) July 18, 2022
Yet, the number is not final as some claimants have only filed for $1 with the right to increase, @DrSoldmanGachs noted. Three Arrows Capital managed around $10 billion in assets a few months ago, but now the whereabouts of its co-founders is unknown.
Earlier in July, Three Arrows Capital filed a petition under chapter 15 of the US Bankruptcy Code. The law firm Latham & Watkins — which represents the Singapore-based fund — filed the petition in the US Bankruptcy Court for the Southern District of New York.
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