What happened to 3AC & Voyager digital?

Crypto exchange Blockchain.com reportedly faces a $270 million hit on loans to 3AC. Meanwhile, digital asset brokerage Voyager Digital filed for Chapter 11 bankruptcy protection after 3AC couldn’t pay back the roughly $670 million it had borrowed from the company.

What does 3AC mean for the crypto space?

So it’s important to understand what 3AC does, how it arrived at liquidation, and what it can mean for the crypto space. Three Arrows Capital, or 3AC, is a crypto hedge fund based (at least until recently) in Singapore and incorporated in the British Virgin Islands.

Is 3AC a hedge fund?

Three Arrows Capital, or 3AC, is a crypto hedge fund based (at least until recently) in Singapore and incorporated in the British Virgin Islands. At its height, it controlled over $10 billion in assets and invested in some of the biggest projects in the space, including Solana and Terra. The beginnings of 3AC: who are Zhu Su and Kyle Davies?

Why did 3AC fail?

3AC was one of the biggest crypto investment funds with billions under management. Yet it got liquidated after losing an enormous amount of money in the Terra disaster — and dragged other crypto companies with it. Here’s what you need to know about Three Arrows Capital, its founders Zhu Su and Kyle Davies, and why this huge fund failed.