{"id":475392,"date":"2022-07-19T00:44:35","date_gmt":"2022-07-18T21:44:35","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/3ac-liquidators-seek-time-access-to-headquarters-as-genesis-algorand-ties-are-untangled\/"},"modified":"2022-07-19T00:44:35","modified_gmt":"2022-07-18T21:44:35","slug":"3ac-liquidators-seek-time-access-to-headquarters-as-genesis-algorand-ties-are-untangled","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/3ac-liquidators-seek-time-access-to-headquarters-as-genesis-algorand-ties-are-untangled\/","title":{"rendered":"# 3AC liquidators seek time, access to headquarters as Genesis, Algorand ties are untangled"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a40dcf5666d9\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a40dcf5666d9\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/3ac-liquidators-seek-time-access-to-headquarters-as-genesis-algorand-ties-are-untangled\/#%E2%80%9D_3AC_liquidators_seek_time_access_to_headquarters_as_Genesis_Algorand_ties_are_untangled_%E2%80%9C\" >&#8221; 3AC liquidators seek time, access to headquarters as Genesis, Algorand ties are untangled &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_3AC_liquidators_seek_time_access_to_headquarters_as_Genesis_Algorand_ties_are_untangled_%E2%80%9C\"><\/span>&#8221; 3AC liquidators seek time, access to headquarters as Genesis, Algorand ties are untangled &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDcvZmQzNDg5YWQtMmQ4ZS00MDM3LWI4NjEtMmQwNTRjODZiOGY3LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-28d77a7a>The liquidators of failed crypto hedge fund Three Arrows Capital (3AC) have filed an <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>lication in the High Court of Singapore for a stay on claims against 3AC and access to the company\u2019s Singapore headquarters. The liquidators <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/3acliquidation.com\/wp-content\/uploads\/2022\/07\/20220709-3AC-BVI-Liquidation-Recognition-1st-Affidavit-of-Russell-Crumpler-Filed.pdf\">said<\/a> in the 1,157-page document that a court decision is needed in light of the number legal proceedings that may arise in the near future and the \u201cvirtual radio silence from the management\/directors of the Company.\u201d<\/p>\n<p>According to the July 9 application, the Singapore office may contain cold wallets or information on how to access 3AC trading accounts, which the liquidators want to access before any of it is removed or destroyed. The application lists previous unsuccessful efforts to obtain information from company directors Su Zhu and Kyle Davies and their representatives. <\/p>\n<p>Details of 3AC\u2019s financial woes continue to emerge. According to The Street, 3AC\u2019s biggest creditor, trader Genesis Asia Pacific, a subsidiary of Digital Currency Group, loaned 3AC $2.36 billion.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Crypto lender Genesis gave $2.36 billion to Three Arrows Capital<\/p>\n<p>\u2014 TheStreet (@TheStreet) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/TheStreet\/status\/1549063575121059842?ref_src=twsrc%5Etfw\">July 18, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\nThat is a far greater sum than previously reported. It was already known that the loan had an 80% margin and Genesis began selling off collateral im<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>tely when 3AC missed a margin call.<\/p>\n<p>Algorand also appeared on the list of 3AC creditors. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Last September, the Algorand Foundation entered a one-off OTC trade with 3AC. We have reason to believe 3AC violated the associated lockup terms and as such are seeking remuneration per the terms of the agreement&#8230;.<\/p>\n<p>\u2014 Algorand Foundation (@AlgoFoundation) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/AlgoFoundation\/status\/1548983080211423233?ref_src=twsrc%5Etfw\">July 18, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The location of Zhu and Davies is currently unknown. Zhu took to Twitter July 12 to complain that \u201cour good faith to cooperate with the Liquidators was met with baiting.\u201d He may appear at the 3AC creditors\u2019 meeting scheduled for July 18, however, since he is filing a $5 million claim against the company, according to a tweet by DrSold<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/anime-manga\/\" data-internallinksmanager029f6b8e52c=\"6\" title=\"Anime || Manga\" target=\"_blank\" rel=\"noopener\">manGa<\/a>chs. Zhu is the cofounder and CEO of 3AC.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">I&#8217;ve just seen the list of creditors to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/3AC?src=hash&amp;ref_src=twsrc%5Etfw\">#3AC<\/a> and noticed that <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/zhusu?ref_src=twsrc%5Etfw\">@zhusu<\/a> has filed a claim for $5 million. While being on the run, he has somehow found the time to diligently and ruthlessly fill out forms to pursue a claim against his own Fund. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/YFfWmYZOoM\">https:\/\/t.co\/YFfWmYZOoM<\/a><\/p>\n<p>\u2014 Soldman Gachs \u2310\u25e8-\u25e8 (@DrSoldmanGachs) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/DrSoldmanGachs\/status\/1548922054975848448?ref_src=twsrc%5Etfw\">July 18, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In addition  to Zhu\u2019s claim, 3AC investment manager ThreeAC Limited is making a $25 million claim, DrSoldmanGachs continues in the thread. Kyle Davies\u2019 wife Kelli Kali Chen is reportedly seeking a claimed $65.7 million debt in the same filing in the Eastern Caribbean Supreme Court. A court in the British Virgin Islands ordered 3AC into liquidation June 27. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/3ac-liquidators-seek-time-access-to-headquarters-as-genesis-algorand-ties-are-untangled\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; 3AC liquidators seek time, access to headquarters as Genesis, Algorand ties are untangled &#8220; The liquidators of failed crypto hedge fund Three Arrows Capital (3AC) have filed an application in the High Court of Singapore for a stay on claims against 3AC and access to the company\u2019s Singapore headquarters. The liquidators said in the&#8230;<\/p>\n","protected":false},"author":1,"featured_media":475393,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDcvZmQzNDg5YWQtMmQ4ZS00MDM3LWI4NjEtMmQwNTRjODZiOGY3LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[117,71433,70934,5012,74124],"class_list":["post-475392","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-business","tag-court","tag-regulation","tag-singapore","tag-softbank"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/475392","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=475392"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/475392\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/475393"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=475392"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=475392"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=475392"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}