PC Ekspert Forum - View Single Post

The Exiled · 28.06.2022., 17:40

Citiraj:

Autor The Exiled

Kao i uvijek dosad, kriptomuljaže i podjednako mutni likovi koji prodaju maglu, dok istovremeno obećavaju brda i doline, da bi se na kraju sve srušilo ko kula od karata.

Sljedeći u nizu su Three Arrows Capital, a meni kao nekome tko nema nikakva kripto ulaganja, sve ovo djeluje jako zabavno - u true crime kategoriji.

Š.O.K._i_V.J.E.V.E.R.I.C.A.

Citiraj:

Wrecked Crypto Hedge Fund Giant Defaults on $670 Million Loan

Citiraj:

The high-profile crypto hedge fund Three Arrows Capital has failed to repay two loans worth a total of $670 million from the crypto trading platform Voyager Digital by the required deadline. As a result, Voyager issued a notice of default on Monday and said it plans to pursue recovery of the funds through the legal system. Voyager had made two loans to Three Arrows Capital, or 3AC, of 15,250 Bitcoins and $350 million worth of USDC, a digital stablecoin backed by U.S. dollars. Once a darling of the crypto industry, 3AC has collapsed amid broader tumult in the crypto industry after a series of highly leveraged bets went bad. The firm, started by childhood friends Zhu Su and Kyle Davies, had borrowed aggressively as it made large investments in the play-to-earn game Axie Infinity, the Solana blockchain, the crypto bank Celsius, and the cryptocurrency Luna, all of which have since crashed.

Research Firm FSInsight Accuses Three Arrows Capital of Running a ‘Madoff-Style Ponzi Scheme’

Citiraj:

The crypto industry was “brought to its knees” in recent weeks by an “old-fashioned Madoff-style Ponzi scheme” wrapped in a trade that was similar to the positions that sunk Long Term Capital Management (LTCM),” research firm FSInsight said in a report Friday looking at the implications of the implosion of cryptocurrency hedge fund Three Arrows Capital (3AC). Madoff in this scenario would be the founders of 3AC, Su Zhu and Kyle Davies, who used their reputation to “recklessly borrow from just about every institutional lender in the business,” resulting in pain for some high-profile names in the industry, including Voyager Digital, Babel Finance and BlockFi, Sean Farrell, head of digital asset strategy at FSInsight, wrote in the report. At its peak, 3AC’s assets under management (AUM) were supposedly over $18 billion, the note said. However, given that the amount of debt that is now known to have been loaned to them, it is unclear at this juncture how much actual equity was at risk. It is likely that the pair were simply “using borrowed funds to repay interest on loans issued by lenders, while ‘cooking their books’ to show massive returns on capital,” the note added.