Rumors of Three Arrows Capital being the latest to “collapse” as the crypto market swings continued to circulate on June 15.
Three Arrows Capital is in trouble
Three Arrows Capital (3AC) fund has been rumored to be in financial trouble following the massive release of around 56,000 stETH on June 14.
On the morning of June 15, CEO Zhu Su of 3AC posted a tweet:
Although it is not clear what Mr. Zhu Su’s intentions with the above post are, it reinforces the rumor that the 3AC fund is struggling after a period of market decline.
The 0xTuba account, the CEO of Psyops Capital, revealed that after speaking with Zhu Su, Three Arrows Capital’s actual situation is “many times worse than it actually is“.
There are investment funds that have accused 3AC of withdrawing their money, but have not seen it back.
Three Arrows Capital’s NFT StarryNight fund is also said to have sold off its NFT collection worth more than $21 million accumulated since August 2021.
TheBlock news site confirmed that 3AC before June 15 was liquidated up to $ 400 million in assets.
With the crypto market dump on the afternoon of June 15, many loan orders worth about 14.00 ETH of wallets believed to be linked to 3AC were liquidated via Compound.
Currently, the crypto community is keeping a close eye on a Three Arrows Capital wallet that is mortgaging over 211,000 ETH (worth over $220 million) on Aave. This amount will be liquidated if the ETH price drops to $1,014 – $1,016.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews