British Virgin Islands Financial News

05.07 / 11:31

Exchange Maker Crypto Chaos Continues as Loans Firm Cuts Withdrawal Limit, 3AC Moves Funds, & Celsius Apparently Pays Maker

Crypto turmoil continues to deepen in the bear market, with more Celsius-related developments, another crypto loans firm introducing restrictions, and more activity from Three Arrows Capital (3AC) – which appears to have moved some of its funds.

05.07 / 07:43

Three Arrows Capital Crypto hedge fund Three Arrows files for Chapter 15 bankruptcy

Crypto hedge fund Three Arrows Capital has filed for Chapter 15 bankruptcy, a move that protects its US assets while a liquidation is carried out in the British Virgin Islands. Representatives for Three Arrows filed the bankruptcy petition in New York on Friday, court papers show. Chapter 15 bankruptcy filings stop creditors from seizing a company’s assets in the US. A British Virgin Islands court ordered the liquidation of Three Arrows Capital earlier this week. The fund, founded by former Credit Suisse traders Zhu Su and Kyle Davies, managed an estimated $10 billion of assets as recently as March, according to blockchain analytics firm Nansen.

04.07 / 12:59

Digital Southern Arrow Three Arrows Capital Files for Chapter 15 Bankruptcy in the US

The embattled cryptocurrency hedge fund, Three Arrows Capital (3AC) has filed for Chapter 15 bankruptcy in the United States of America as it looks to preserve its assets in the country.

02.07 / 08:39

lending M&A FTX suspensions Crypto Turmoil: 3AC Files for Bankruptcy, FTX and BlockFi Agree, Suspensions at Voyager

Multiple important news reached the market as another week of harsh crypto winter neared its end, providing more clarity on where some major industry players stand.

02.07 / 00:11

business Loans Withdrawals Voyager Digital freezes trading, deposits, withdrawals and rewards, blames 3AC default

Cryptocurrency exchange Voyager Digital announced Friday that it was temporarily suspending trading, deposits, withdrawals and loyalty rewards. “The failure of a borrower, Three Arrows Capital, to repay a substantial loan from us makes this the right path forward,” Voyager Digital CEO Stephen Ehrlich said on Twitter soon after the service suspension went into effect.

01.07 / 20:39

Real Estate property Three Arrows Capital reports Three Arrows CEO Zhu Su Seeks to Sell Luxury Singapore Mansion – Reports

Zhu Su, the co-founder and CEO of the troubled crypto hedge fund Three Arrows Capital, is reportedly seeking to sell a mansion he owns in Singapore.

30.06 / 15:19

business regulation Venture Capital information Singapore reprimands 3AC for providing false information

The Monetary Authority of Singapore (MAS) has reprimanded Three Arrows Capital (3AC), a battled hedge fund, for providing inaccurate information to the authorities. In a statement published Thursday, the MAS said that the firm violated capital requirements by having assets under management in excess of the permitted amount.

30.06 / 12:47

Digital Arrow Sky News Bitcoin Luna Classic British Virgin Island Court Orders the Liquidation of Three Arrows Capital

Earlier this week, a court from the British Virgin Islands ordered the liquidation of embattled crypto hedge fund Three Arrows Capital (3AC), as the firm proved beyond doubt that it cannot fulfil its debt obligations.

30.06 / 07:03

Three Arrows Capital Crypto hedge fund Three Arrows Capital has entered liquidation, source says

Crypto hedge fund Three Arrows Capital (3AC) has entered liquidation, a person familiar with the matter told Reuters on Wednesday, in the latest sign of the market downturn hurting the crypto industry. Singapore-based 3AC is one of the higher profile crypto investors to have run into difficulties following the sharp sell-off in the market for digital currencies seen in recent months. Crypto broker Voyager Digital issued 3AC with a default notice on Monday after it failed to make payments on a loan of 15,250 bitcoin (approximately $324 million) and $350 million worth of USDC, a stablecoin.

30.06 / 00:47

UPS Arrow Sky News 3AC to get liquidated soon? The NFT market could be key

A British Virgin Islands court has ordered the liquidation of Three Arrows Capital, according to the reports. The Singapore-based crypto hedge fund has been battling it out in recent weeks after the Terra crash. But with over $400 million in liquidations, it seems time has finally run out now.

29.06 / 17:33

Arrow Three Arrows Capital falls into liquidation as crypto winter bites

Cryptocurrency-focused hedge fund Three Arrows Capital has gone bust, becoming one of the most prominent victims yet of the so-called 'crypto winter'.

29.06 / 16:47

cryptocurrency Crypto crash Crypto Firm Three Arrows Capital Becomes First Meltdown Casuality: Report

Crypto hedge fund Three Arrows Capital has entered liquidation: Report

29.06 / 15:55

business regulation Sky News Bitcoin British Virgin Islands court reportedly orders to liquidate 3AC

Troubled cryptocurrency venture capital firm Three Arrows Capital (3AC) is facing more uncertainty amid new reports on the company’s liquidation.

29.06 / 15:25

Ethereum Forecast MARKET Sky News Bitcoin analysts Crypto Market Struggles as Bitcoin Tests USD 20K, Analysts Warn of Further Downside, 3AC Liquidation Reportedly Ordered

The crypto market saw losses across the board on Wednesday as bitcoin (BTC) once again dipped below the USD 20,000 mark, and some analysts pointed to a risk of further downside.

23.06 / 08:43

cryptocurrency CryptoExplainer Crypto Giant Tether To Launch Sterling-Pegged Stablecoin; Any Takers?

Crypto giant Tether to launch sterling-pegged stablecoin

22.05 / 22:19

Tether COMPOSITE Indexes Tether and how it maintained ‘stability through multiple black swan events’

The market has serious concerns with regards to the so-called “stability” of much-talked-about stablecoins. With the market still trying to find a balance post the Terra debacle, Tether published a report on the company’s financials. Tether, the largest stablecoin by market cap, also lost its peg after dropping to $0.95. This raised fears of another sell-off, which have since been contained after it recovered most of its position.

20.05 / 19:19

Stablecoin Tether cryptos Holdings Top stablecoin Tether boosts US Treasuries holdings

Tether, the world's largest stablecoin, said on Thursday it has boosted its holdings of U.S. government debt while cutting exposure to riskier assets, the first look at its reserves since the token was rocked by the crypto sector's recent sell-off. Stablecoins, a variety of cryptocurrencies designed to keep a steady value, are in sharp focus after crypto markets were rocked last week by the demise of the TerraUSD token. Usually underpinned by reserves of assets such as dollars, gold and government debt, stablecoins are widely used in cryptocurrency trading — with Tether the predominant medium for moving funds between crypto or into regular cash.

20.05 / 10:23

cryptocurrency Tether CryptoExplainer Holdings Top Stablecoin Tether Shuns Risky Assets, Boosts Its US Treasury Holdings

Top stablecoin Tether boosts US Treasuries holdings

20.04 / 13:09

Ethereum BTC Digital Bitcoin IDEG Launches Renaissance SP and DeFi Tracker SP

Professional digital asset manager IDEG Asset Management Limited (IDEG) has launched IDEG Renaissance SP and the IDEG DeFi Tracker SP.

19.04 / 09:57

cryptocurrency Web3 Dubai Indian regulatory The new brain drain: Indian Web3 startups flock to Dubai amid regulatory uncertainty, stiff taxes

If there was one recurring theme that cut across multiple Web3 meetups held in Bengaluru, New Delhi and Mumbai in the last month, it was Dubai. A city that has almost become an emotion and a panacea for entrepreneurs building on the Web3 platform—the so-called next version of the Internet, which will be decentralised and run on blockchain—even as they grapple with an uncertain regulatory landscape and hefty taxes in India. Every second founder we met at these meetups has either moved to Dubai or is in transition.

11.04 / 14:11

cryptocurrency Binance coinbase BitMEX How the Crypto Industry is Increasingly Paying Its Share of Tax

Crypto is now a billion-dollar industry. While reports covering the entire sector are patchy and overly conservative, filings from individual companies speak to the growing scale of crypto, with Coinbase and Blockchain.com alone generating USD 7.35bn and USD 1.5bn in revenue in 2021, respectively.

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