Crypto hedge fund Three Arrows files for Chapter 15 bankruptcy
Crypto hedge fund Three Arrows files for Chapter 15 bankruptcy
CryptohedgefundThreeArrowsCapital (3AC) is seeking protection from creditors in the United States underChapter15of the U.S.BankruptcyCode, which allows foreign debtors to shield USassets, according to a court filing on Friday.
Singapore-based 3AC is one of the highest-profile investors hit by the sharp sell-off incryptomarkets and is being liquidated, Reuters reported on Wednesday, citing a person familiar with the matter.
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Representatives for 3AC filed a petition in the USBankruptcyCourt for the Southern District of New York on Friday, according to court documents.
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On Thursday, Singapore's financial regulator had accused embattled thefundof exceeding its assets threshold and providing false information.
Non US-companies useChapter15to block creditors who want to file lawsuits or tie up assets in the United States.
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