Crypto hedge fund Three Arrows Capital ordered to liquidate - WSJ
Jun. 29, 2022 9:30 AM ETGrayscale Bitcoin Trust (BTC) (GBTC), BTC-USDBy: Jonathan Block, SA News Editor50 Comments
- Three Arrows Capital, a hedge fund focused on cryptocurrency investments, has been ordered to liquidate by a court in the British Virgin Islands, The Wall Street Journal reported.
- Creditors had sued the fund for failure to repay loans.
- The newspaper said that Three Arrows had invested in Luna, Grayscale Bitcoin Trust, and Lido staked ether, a derivative representing staked ether.
- Luna reached an all-time high of $119.18 in April. The current price is $0.000132. Grayscale Bitcoin Trust (OTC:GBTC) is down ~61% year to date.
- Bitcoin (BTC-USD) fell below the $20K mark in the early hours of Wednesday.