Crypto Morning Briefing: Binance NFT Announces Integration With Polygon Network
Silvergate Capital Corporation Will ‘Voluntarily Liquidate’ Silvergate Bank; Gemini Denies Reports of Banking Relationship Ending With JPMorgan; Three Arrows Capital Founders Shake Up Crypto Industry with New Crypto Exchange After Acquiring CoinFLEX Assets; Binance Charity Donates $100,000 in Georgia to Empower Women through Web3 Education
Three Arrows Capital Founders Shake Up Crypto Industry with New Crypto Exchange After Acquiring CoinFLEX Assets
Su Zhu and Kyle Davies, the two founders of the bankrupt crypto hedge fund Three Arrows Capital (3AC), have completed a funding round for their new OPNX exchange and will acquire remaining assets from the troubled exchange CoinFLEX.
Crypto Lender Voyager Received Single-Page Value Statement From Hedge Fund Three Arrows Capital
Just weeks before filing for bankruptcy, crypto hedge fund Three Arrows Capital (3AC) sent lender Voyager Digital a one-page net asset value (NAV) statement, court documents filed Tuesday show. A single due-diligence call was conducted between the two firms. Voyager, which itself filed for bankruptcy in July 2022, reported a $654 million loan to 3AC that accounted for almost 58% of its loan portfolio.
DCG Losses Top $1B on the Back of 3AC Collapse in 2022
Cryptocurrency venture capital conglomerate Digital Currency Group (DCG) has reported losses of over $1 billion in 2022 due largely to the contagion relating tocollapse of crypto hedge fund, Three Arrows Capital (3AC).
Crypto Morning Briefing: Blockchain.com Shopping Assets to Fill $270M Hole From Three Arrows Capital; Bank of Russia to Pilot CBDC in April
Gemini Will Be Qualified Custodian Under Proposed SEC Rules; Coinbase Exec: US Congress Needs to ‘Step Up’ Its Crypto Regulatory Efforts; US SEC Charges NBA Star Paul Pierce With Crypto Violation
Blockchain.com Shopping Assets to Fill $270M Hole From Three Arrows Capital: Sources
Blockchain.com, the early Bitcoin wallet provider and exchange that boasted a $14 billion valuation as recently as last March, has been attempting to sell off assets in a scramble for capital.
Three Arrows Capital Co-Founder Announces New Crypto Venture Open Exchange Amid Bankruptcy Controversy
Following the recent court filing from liquidators for Three Arrows Capital (3AC) claiming frustration with the 3AC co-founders for allegedly failing to respond to subpoenas sent via Twitter. Su Zhu, one of the co-founders, recently tweeted about his new crypto venture, Open Exchange. The exchange aims to provide users with the ability to trade or use portfolio margin with claims against bankrupt cryptocurrency firms.
FTX Claimants Bite Into New Crypto Venture by Founders of Failed Three Arrows Capital
Some claimants of bankrupt cryptocurrency exchange FTX are banking their hopes on recovering some money through a new venture set up by the co-founders of prominent bankrupt cryptocurrency hedge fund Three Arrows Capital (3AC).
Su Zhu Unveils New OPNX Exchange for Trading Trapped Crypto Funds
Su Zhu, a co-founder of the collapsed crypto hedge fund Three Arrows Capital, said Thursday that a waitlist is now open at a new marketplace called OPNX for trading claims and derivatives related to funds stuck on failed exchanges.
3AC Liquidators Ask Judge to Intervene, Say Co-Founder Is 'Withholding Information'
The liquidators overseeing crypto hedge fund Three Arrows Capital’s bankruptcy proceedings have asked the judge to compel co-founder Kyle Davies to cooperate, according to a new court filing.