British Virgin Islands Financial News

On Tuesday, 4 July, Tina Ambani, the wife of indus... moreOn Tuesday, 4 July, Tina Ambani, the wife of industrialist Anil Ambani appeared before the Enforcement Directorate in Mumbai for questioning and to provide her statement regarding an investigation related to the alleged violation of foreign exchange regulations.

Anil Ambani, Chairman of Reliance ADA Group, appeared before the Enforcement Directorate (ED) in Mumbai for questioning and to provide her statement regarding an investigation related to the alleged violation of foreign exchange regulations, according to official sources. Anil Ambani had already given his statement on Monday, 3 July, under sections of the Foreign Exchange Management Act 1999 (FEMA), and he is expected to appear before the ED again later in the week to complete the process.

The founders of the now-bankrupt crypto hedge fund Three Arrows Capital, also known as 3AC, are facing a $1.3 billion recovery claim from the fund’s liquidators.

Teneo, the liquidators behind bankrupt hedge fund Three Arrows Capital (3AC), are reportedly seeking to recover roughly $1.3 billion in funds from founders Su Zhu and Kyle Davies.

On June 21, OPNX exchange, a platform for trading claims against bankrupt crypto entities, announced a new ecosystem partner dubbed "3AC Ventures." According to developers, "the partnership will invest in projects building in the OPNX ecosystem and working towards a decentralized future." OPNX was founded by Su Zhu and Kyle Davies, who co-founded the now-bankrupt Singaporean hedge fund Three Arrows Capital (3AC). 

A new filing from the U.S. Securities and Exchange Commission suggests that Binance moved billions of dollars in customer funds through Signature Bank and Silvergate Bank – both crypto-friendly U.S. firms that failed in March. 

The $2.2 billion of U.S. customer assets held by Binance is at «significant risk» of being stolen by founder Changpeng Zhao unless a freezing order is in put place, federal regulators said in a filing Tuesday night, after the crypto regulator was charged by the Securities and Exchange Commission.

Arrows Capital sold for about $2.5 million. Of the tokens, «Fidenza #725,» an image with graphic dashes and curves in a muted palette of cream, yellow, pink and black, fetched the highest price at over $1 million. Three Arrows Capital purchased it for 135 ether in 2021, equal to about $341,786 at the time, according to DappRadar. The auction was part of liquidating Three Arrows, according to a February memo from Teneo, one of the court-appointed liquidators. Singapore-based Three Arrows was the first major crypto firm to go bankrupt in 2022, brought down by the collapse of cryptocurrencies Luna and TerraUSD. It filed for bankruptcy in the British Virgin Islands in late June 2022.

Cryptocurrency exchange FTX is seeking to recover around $4 billion from similarly bankrupt crypto lender Genesis and a still-solvent British Virgin Islands-based entity — part of efforts to recover value for creditors.

United States-based crypto exchange Gemini announced on April 21 the upcoming launch of a derivatives platform outside the U.S. The move comes amid a tightening and uncertain regulatory environment for crypto firms in the country. 

[content][quote]Big Story[/quote][title]Web3 Platform Few and Far Raises $10.5 Million in Funding Round[/title][body]British Virgin Islands-based digital Collectibles web3 platform Few and Far on Friday announced that it has raised $10.5 million in a funding round led by Pantera Capital, a blockchain investment firm. The funding round also included other prominent investors such as Cypher Capital, Huobi Ventures, Hypersphere, Metaweb, Mantis Partners, and K5 Global. According to the company, the new funds will be used to expand the platform's capabilities, enhance user experience, and increase the number of web3 developers. IP owners are also expected to benefit from the platform, which provides an all-inclusive suite of developer tools to carry out everything related to next-generation digital collectibles. Details here.[/body][/content]

Some of the non-fungible tokens (NFTs) once held by bankrupt Singaporean crypto hedge fund Three Arrows Capital (3AC) will be put up for sale as part of efforts to retrieve funds for its creditors, according to the failed company’s liquidators.

According to a recent statement, the nonfungible tokens (NFTs) that belonged to the failed hedge firm Three Arrows Capital (3AC) would be liquidated by its liquidators, Teneo.

Teneo, the court-appointed restructuring firm to liquidate Three Arrows Capital (3AC), has revealed its plans to sell off a considerable portion of the defunct crypto hedge fund’s Non-fungible Token [NFT] collection. The court appointed the Singapore-based liquidator in 2022 after 3AC collapsed. Notably, the collapse of the firm resulted in hundreds of creditors, who were seeking a collective $3.5 billion. 

Liquidators of the now-defunct crypto fund Three Arrows Capital plan to sell off the firm's NFTs as part of recovery efforts.

Nonfungible tokens (NFTs) belonging to the bankrupt hedge fund Three Arrows Capital (3AC) will be sold by its liquidators Teneo, according to a recent announcement. 

Disclaimer: The text below is a press release that is not part of Cryptonews.com editorial content.

The CEO of crypto miner Layer1 Technologies has filed a lawsuit against the firm’s two other board members — including co-founder Jakov Dolic — for allegedly commandeering Layer1's operations for their own gain. 

A group of four men controlled 86% of stablecoin issuer Tether Holdings Limited as of 2018, according to documents obtained by The Wall Street Journal in connection with United States authorities investigations.

The early Bitcoin (BTC) evangelist and now Bitcoin Cash (BCH) proponent Roger Ver has been sued by the now-bankrupt crypto lender Genesis after failing to meet a $21m margin call.

Bitcoin Cash (BCH) advocate Roger Ver has sued by a unit of crypto lending firm Genesis over unsettled crypto options amounting to $20.8 million.