What happened to Celsius and 3AC?

This led to liquidity issues at Celsius and 3AC, two companies that made risky crypto gambles using borrowed funds. As cryptocurrencies started falling this year, investors wanted to take their funds out of firms like Celsius and 3AC.

Is Celcius and terra (Luna) collapsing?

According to the filings made in court, Celsius has given two loans for 3AC in USDC stablecoin which are worth $50 million and $25 million. Hence, now it’s clear that Celcius, Three Arrow Capitals, and Terra (LUNA) crash are all interconnected. Just after Terra collapsed, 3AC too followed had a worst on the overall market sentiment.

Did 3AC survive the Terra collapse?

But on May 11, when investors asked if 3AC had survived the Terra collapse, 3AC told them everything was fine — and kept taking in money! 3AC had abandoned its Singapore office by late May — they just locked the door and skipped the country — and they finally admitted there were problems only in mid-June.

Is 3AC in BVI?

Less than a week later, 3AC filed for Chapter 15 bankruptcy in the US on July 1. 3AC’s assets are (likely) not in BVI, but in the US and Singapore. Chapter 15 allows the BVI court to be recognized in the US — and protects US assets during the liquidation process.