Why is 3AC filing for Chapter 15 bankruptcy?

Before its collapse, 3AC managed around $10 billion in assets, according to Nansen, a blockchain analytics platform. By filing for Chapter 15 Bankruptcy, 3AC will now work with the US and international US court systems to protect the assets of its debtors. This filing comes as 3AC defaults on its loan from Voyager Digital. Your capital is at risk.

Is 3AC in liquidation?

On June 27, a court in the British Virgin Islands ordered 3AC into liquidation. A few days later, 3AC filed for Chapter 15 bankruptcy in the Southern District of New York. Creditors, meanwhile, have asked a court in Singapore to enforce the BVI liquidation order to gain access to 3AC’s Singapore offices.

Is 3AC a good investment?

The investment firm has been one of the most-vocal crypto market participants in the past few years. 3AC co-founder Su Zhu speaks at Crypto Bahamas. (Tracy Wang/CoinDesk) Dubai-based crypto fund Three Arrows Capital is facing possible insolvency after incurring at least $400 million in liquidations, The Block reported Wednesday.

Is three arrows capital seeking bankruptcy protection from creditors?

Here’s how it happened Crypto hedge fund Three Arrows Capital (3AC) is seeking protection from creditors in the United States under Chapter 15 of the U.S. Bankruptcy Code, which allows foreign debtors to shield U.S. assets, according to a court filing on Friday.