Three Arrows Capital (3AC) collapse: From Billions to zero
Even seasoned market players have reported turmoil during the last several months. The value of the crypto market fell precipitously, and several players disappeared. Now, prominent figures are also there, including the Singapore-based cryptocurrency hedge firm Three Arrows Capital (3AC). Three Arrows Capital is a hedge fund founded in 2012, with its initial concentration on short-term operations like Forex trading, arbitrage, and derivatives investment. In 2013, the fund began paying attention to the cryptocurrency market and began investing in projects with a long-term trend. Soon, it became One of the top hedge funds in the cryptocurrency sector and had around $10 billion in assets as recently as March. Now, on its way to bankruptcy court after the fall of cryptocurrency prices and a potentially high-risk trading strategy that wiped away all of its assets and rendered it unable to pay