Three Arrows Capital, the World’s Largest Crypto Hedge Fund, Is in Liquidation Crisis

Join the Trading Community: Learn & Earn with BingX.

Today’s Cryptocurrency Headline

Terra Community Researcher FatMan said verified sources confirmed that 3AC borrowed money from multiple funds and counterparties, placing it in Anchor to generate returns without telling them. Prior to the Terra Depegging incident, their UST holdings were at least nine figures. 3AC was also exposed to USDD but was forced to sell its position earlier this week, triggering a minor decoupling. FatMan also said 3AC owed a large amount of money to crypto exchange BitMEX, and creditors contacted confirmed 3AC was still unreachable.

BingX’s Bitcoin Chart

Source: TradingView & BingX

Bitcoin has pulled back from $23,000 again and selling pressure remains above. At present, bitcoin’s intraday retreat has not broken the previous low of $20,100, but the strength of the rebound is weaker. Taken together, bitcoin has further to fall if it doesn’t break above $23,000 to $23,300 this week.

Disclaimer: BingX does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. BingX is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the article.