This week in crypto

December 30, 2022

3AC is MIA as liquidators try to preserve assets for creditorsThe office of Singapore-based crypto hedge fund Three Arrows Capital (“3AC”) is vacant, and its founders are nowhere to be found. Bloomberg reported that the founders’ lawyers informed Three Arrows’ liquidators that Davies and Su plan to attend a meeting between the liquidators and attorneys on Monday the 11th and a subsequent court hearing on Tuesday. While Teneo waits in limbo, the advisory firm is working diligently to avert the continued hemorrhaging of the fund’s assets. However, most blame can be easily placed on over-hyped projects and the macro trends affecting global markets. “The core of what Republic Crypto is working on has not changed… macroeconomic factors have obviously made a big impact on the industry, but the tech we work on and the business we’ve built has not changed at all.

The source of this news is from Republic