{"id":475677,"date":"2022-07-19T21:20:00","date_gmt":"2022-07-19T18:20:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/3ac-allegedly-liable-for-2-8b-in-creditor-claims\/"},"modified":"2022-07-19T21:20:00","modified_gmt":"2022-07-19T18:20:00","slug":"3ac-allegedly-liable-for-2-8b-in-creditor-claims","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/3ac-allegedly-liable-for-2-8b-in-creditor-claims\/","title":{"rendered":"# 3AC allegedly liable for $2.8B in creditor claims"},"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-6a383d3c7b705\" 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-6a383d3c7b705\" 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-allegedly-liable-for-2-8b-in-creditor-claims\/#%E2%80%9D_3AC_allegedly_liable_for_28B_in_creditor_claims_%E2%80%9C\" >&#8221; 3AC allegedly liable for $2.8B in creditor claims  &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_3AC_allegedly_liable_for_28B_in_creditor_claims_%E2%80%9C\"><\/span>&#8221; 3AC allegedly liable for $2.8B in creditor claims  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDcvYjAzODc1MmQtOWY5ZS00N2IxLWFjZmQtMmRjMDc1ZDg3MmU1LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-28d77a7a>According to <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> user @DrSold<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/anime-manga\/\" data-internallinksmanager029f6b8e52c=\"6\" title=\"Anime || Manga\" target=\"_blank\" rel=\"noopener\">manGa<\/a>chs, a self-proclaimed creditor of troubled Singaporean crypto hedge fund Three Arrows Capital (3AC), the now-defunct entity allegedly <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/DrSoldmanGachs\/status\/1549236861138538496\">owes<\/a> $2.8 billion in claims, as discovered through a recent 3AC creditors meeting. In addition, the claim amount could be understated, as many have either not made their claim or have not disclosed their claim amounts for reasons of confidentiality.<\/p>\n<p>As told by DrSoldmanGachs, the meeting voted to elect a creditor committee comprising Digital Currency Group, Voyager Digital, Blockchain Access Matrix Port Technologies and CoinList Lend. These five parties above represent <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>roximately 80% of the current level of claims.<\/p>\n<p>3AC assets are believed to be comprised of bank account balances, direct crypto holdings, underlying equity in projects and nonfungible tokens. At the time of publication, it is unclear how much in the fund&#8217;s equity remains. Last year, the hedge fund reportedly held $6 billion in assets and $3 billion in liabilities.<\/p>\n<p>Via a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/watch-movies-tv-seriess\/\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Watch Movies &amp; TV Series\" target=\"_blank\" rel=\"noopener\">series<\/a> of highly-leveraged bullish directional bets with borrowed money from major crypto institutions, 3AC became insolvent amid the ongoing cryptocurrency bear market. Its founders allegedly fled and defaulted on loan payments that were left behind, leading to a major contagion among centralized finance firms tha lent money to 3AC.<\/p>\n<p>Both of 3AC&#8217;s co-founders, Su Zhu and Kyle Davies, could not be located after the fund&#8217;s blowup. Ironically, Su Zhu is allegedly claiming $5 million from 3AC, while Chen Kaili Kelly, wife of Kyle Davies, is allegedly claiming $66 million. However, such claims are reportedly quasi-equity and subordinate to the distribution of leftover assets, if any, to creditors.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">To get you up to speed:<\/p>\n<p>After making a series of large directional trades (GBTC, LUNA, stETH) and borrowing from 20+ large institutions, Three Arrows Capital (3ac) went bust.<\/p>\n<p>Then the founders ran, and the loan defaults have lead to mass contagion in crypto.<\/p>\n<p>\u2014 Jack Niewold  (@JackNiewold) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/JackNiewold\/status\/1549153122257338371?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 \/>\n<template data-name=\"subscription_form\" data-type=\"crypto_biz\"><\/template>\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-allegedly-liable-for-2-8b-in-creditor-claims\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; 3AC allegedly liable for $2.8B in creditor claims &#8220; According to Twitter user @DrSoldmanGachs, a self-proclaimed creditor of troubled Singaporean crypto hedge fund Three Arrows Capital (3AC), the now-defunct entity allegedly owes $2.8 billion in claims, as discovered through a recent 3AC creditors meeting. In addition, the claim amount could be understated, as many&#8230;<\/p>\n","protected":false},"author":1,"featured_media":475678,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDcvYjAzODc1MmQtOWY5ZS00N2IxLWFjZmQtMmRjMDc1ZDg3MmU1LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74894,91040,74863,117],"class_list":["post-475677","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-blockchain","tag-credits","tag-cryptocurrencies","tag-business"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/475677","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=475677"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/475677\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/475678"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=475677"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=475677"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=475677"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}