According to the MAS managing director, TerraForm Labs, Luna Foundation Guard and Vauld were “not licensed or regulated” by Singapore’s financial watchdog. Ravi Menon, the managing director of the Monetary Authority of Singapore, or MAS, said companies often labeled by the media in connection to the recent market volatility as “Singapore-based” were not representative of…
Read more
A federal judge in a New York bankruptcy court has frozen the assets of crypto hedge fund Three Arrows Capital (3AC). “A key part of this motion is to put the world on notice that it is the liquidators that are controlling the debtor’s assets at this stage.” Bankruptcy Judge Freezes 3AC’s Assets Judge Martin…
Read more
The counsel for liquidators said he didn’t know the current location of Zhu or Davies, alleging the duo have not provided “meaningful cooperation” with the liquidators. A United States (U.S.) court has given liquidators permission to subpoena the founders of crypto investment firm Three Arrows Capital (3AC), including Su Zhu and Kyle Davies. According to…
Read more
One user, referred to as Robert for anonymity purposes, stated he put roughly six figures on Voyager, representing 70% of his life savings, and feels lost on what to do moving forward. Many Investors are reeling from Voyager Digital’s recent bankruptcy filing, with some claiming to have either ‘millions’ worth of crypto assets or most…
Read more
BTC bulls think the bottom is in, but a neutral-to-bearish price formation and the absence of a futures premium contradict their optimism. A descending triangle pattern has been pressuring Bitcoin (BTC) for the past three weeks and while some traders cite this as a bullish reversal pattern, the $19,000 support remains a crucial level to…
Read more
Following the over-the-counter (OTC) firm’s Twitter thread on June 14, Cumberland explained on July 5 that “rangebound price action belies a volatile picture below the surface,” while crypto markets consolidated during the past week. Cumberland stressed there’s a growing number of crypto companies feeling financial burdens, and “uncertainty” tied to stressed entities is “hanging over…
Read more
According to Blockfi’s co-founder Zac Prince, the company has signed definitive agreements with the crypto firm FTX and the deal is currently up to shareholder approval. The deal represents a total of $680 million, but Prince also noted that $240 million of that total could be used to acquire Blockfi at a variable price up…
Read more
The troubled crypto hedge fund Three Arrows Capital Ltd., otherwise known as 3AC, has filed for bankruptcy according to recent court filings. The court papers show 3AC is aiming for an ancillary Chapter 15 proceeding so liquidators and creditors cannot seize the firm’s U.S. assets. 3AC Files for Bankruptcy — ‘Tremors’ From the Crypto Market…
Read more
After the TSX-listed Voyager Digital revealed that it was owed $655 million from Three Arrows Capital (3AC), the company secured a $500 million credit line from Alameda Ventures in order to “safeguard customer assets.” Five days later on July 1, Voyager announced the crypto company was “temporarily suspending trading, deposits, withdrawals and loyalty rewards.” Another…
Read more
In a recent interview, Sam Bankman-Fried, the founder of the popular exchange FTX, warned that some crypto exchanges are “secretly insolvent” and may soon fail. Bankman-Fried’s FTX and Alameda Research have already helped Blockfi and Voyager Digital as the 30-year-old billionaire says sometimes you have to do “what it takes to sort of stabilize things…
Read more
