Insolvency

Crypto Lender Vauld Suspends Withdrawals, Company Is Discussing ‘Restructuring Options’ With Advisors

July 4, 2022 Bitcoin.com

30% layoffs

On July 4, the crypto lending company Vauld announced it suspended withdrawals, trading, and deposits after disclosing the firm is “facing challenges.” While not naming any specific companies, the Singapore-based cryptocurrency lending platform and exchange mentioned “financial difficulties” stemming from “key business partners.” Vauld Suspends Withdrawals Over ‘Financial Difficulties’ During the last 30 days, a […]

Read more

Latam Insights: El Salvador’s Bitcoin Debt Idea, Milei’s MAGA

Report: Embattled Crypto Hedge Fund Three Arrows Capital Files for Chapter 15 Bankruptcy

July 2, 2022 Bitcoin.com

3AC

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

Latam Insights: El Salvador’s Bitcoin Debt Idea, Milei’s MAGA

Troubled Crypto Hedge Fund 3AC Reprimanded by Singapore’s Monetary Authority, Liquidators Eye Su Zhu’s Properties

July 1, 2022 Bitcoin.com

3AC

On Wednesday, it was reported that the crypto hedge fund Three Arrows Capital (3AC) was liquidated by a British Virgin Islands court and following the alleged liquidation, the Monetary Authority of Singapore (MAS) has reprimanded 3AC for misleading regulators. Furthermore, reports claim that liquidators in Singapore are attempting to seize the properties owned by 3AC […]

Read more

Latam Insights: El Salvador’s Bitcoin Debt Idea, Milei’s MAGA

Report: A British Virgin Islands Court Order Liquidates Crypto Firm Three Arrows Capital

June 29, 2022 Bitcoin.com

3AC

According to a recent report from Sky News citing a source familiar with the matter, “cryptocurrency insiders” have said that the troubled crypto hedge fund Three Arrows Capital (3AC) has been formally liquidated by a British Virgin Islands (BVI) court. The report does not disclose what type of assets face liquidation, but the sources remarked […]

Read more

Latam Insights: El Salvador’s Bitcoin Debt Idea, Milei’s MAGA

FTX CEO Sam Bankman-Fried Warns More Crypto Company Insolvencies Are Coming

June 29, 2022 Bitcoin.com

3AC

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

Latam Insights: El Salvador’s Bitcoin Debt Idea, Milei’s MAGA

Report: Goldman Sachs Looks to Buy Distressed Assets From Celsius, Crypto Lender Seeks Restructuring Advice

June 25, 2022 Bitcoin.com

17919 WBTC

After the crypto lending platform Celsius halted operations on June 12, at 10:10 p.m. (ET), two days later the Wall Street Journal (WSJ) quoted “people familiar with the matter” who said Celsius was hiring restructuring lawyers. At the time, the WSJ said Celsius was looking to hire the bankruptcy and restructuring law firm Akin Gump […]

Read more

Latam Insights: El Salvador’s Bitcoin Debt Idea, Milei’s MAGA

CoinFLEX Follows Celsius in Suspending Withdrawals

June 23, 2022 The Crypto Briefing

Crypto exchange CoinFLEX has paused withdrawals, adding to a growing list of crypto firms limiting their services. CoinFLEX Suspends Withdrawals In a statement today, CoinFLEX cited “extreme market conditions last...

Read more

Latam Insights: El Salvador’s Bitcoin Debt Idea, Milei’s MAGA

Report: Bitmex, Deribit Liquidate 3AC’s Positions — Negativity Continues to Plague the Crypto Hedge Fund

June 17, 2022 Bitcoin.com

@hodlkryptonite

Two days ago, Bitcoin.com News reported on the crypto hedge fund Three Arrows Capital (3AC) after reports claimed that the company was allegedly struggling with financial hardship and possible insolvency. Now the crypto firm Finblox is feeling the effects of 3AC’s troubles, and a few digital currency companies have liquidated the hedge fund’s leveraged positions. […]

Read more

Latam Insights: El Salvador’s Bitcoin Debt Idea, Milei’s MAGA

Report: Celsius Hires Citigroup to Help the Startup Find ‘Potential Financing’

June 16, 2022 Bitcoin.com

Akin Gump

According to “two people familiar with the matter,” the cryptocurrency lending company Celsius is working with the financial giant Citigroup in order to get advice on how to handle the firm’s financial hardship. The sources note that Citigroup was hired by Celsius to help the company find “potential financing.” Sources Say Celsius Is Looking for […]

Read more

Latam Insights: El Salvador’s Bitcoin Debt Idea, Milei’s MAGA

Report: Three Arrows Capital Liquidated for Millions, Sources Say Crypto Hedge Fund May Face Insolvency

June 15, 2022 Bitcoin.com

3AC

According to “well-placed sources,” speaking with The Block reporter Frank Chaparro, the digital currency hedge fund known as Three Arrows Capital (3AC) may be facing insolvency after significant liquidations. Sources say that the 3AC “liquidation totaled at least $400 million” and the hedge fund’s founder Su Zhu tweeted about “communicating with relevant parties” Tuesday evening […]

Read more

Latam Insights: El Salvador’s Bitcoin Debt Idea, Milei’s MAGA