Three Arrows Capital
Okay, so while Crypto hedge fund Three Arrows Capital didn’t technically suspend withdrawals itself, it was a major player in the financial headaches of numerous other crypto funds and played a significant role in Voyager’s decision to freeze withdrawals.
Hundreds of millions of dollars—$666 million, but who’s counting—in unpaid loans came back to bite 3AC in the ass. Early last week, a Virgin Island court ordered the beleaguered hedge fund into liquidation, which would reportedly result in its assets being distributed to its angry, unpaid creditors. 3AC’s downfall marks one of the biggest casualties of the 2022 crypto collapse so far.
But remember folks, the year is still young.
