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Tag Archives: three arrows capital

BlockFi’s Bankruptcy Plans Faces Stiff Opposition From FTX

There’s no respite for BlockFi as the bankrupt crypto lender struggles to pay its creditors and customers. BlockFi has brought forward several proposals since sliding into bankruptcy last year owing to the market turmoil. However, FTX’s latest legal filing poses a hurdle for the now-defunct company as it accuses BlockFi of abusing the planning process. FTX said that the newly proposed plan attempts to avoid substantial claims against BlockFi. “Yet the BlockFi Debtors believe...

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Voyager to Enable Customer Withdrawals This Month

In a respite to Voyager Digital customers, the cryptocurrency brokerage is reportedly gearing up to reopen its app, which will enable the withdrawal of their funds. The development comes almost a year after it filed for Chapter 11 bankruptcy. According to a court filing on June 14th, Voyager’s bankruptcy plan administrator, Paul Hage, stated that around June 15, the Voyager app would be updated to enable the viewing of the forms and amounts of their initial distribution. The...

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Court Restrains Arthur Hayes from Abusing 3AC Founder Su Zhu: Report

Su Zhu, the co-founder of the now-defunct cryptocurrency hedge fund Three Arrows Capital (3AC), has obtained a restraining order from a Singaporean court against Arthur Hayes, the co-founder and former CEO of crypto exchange BitMEX. According to a court document seen by CoinDesk, the restraining order prohibits Hayes from using any insulting or abusive communication that would cause Zhu alarm, harassment, or distress. Hayes Restrained From Abusing Zhu In the past few months,...

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Dubai Regulator Reprimands OPNX Founders for Conducting Unregulated Activity

OPNX – the project created by the defunct hedge fund Three Arrows Capital (3AC) founders – has been controversial from the very start. The exchange has now been reprimanded for conducting unregulated activity. Dubai’s Virtual Assets Regulatory Authority (VARA) has issued a written reprimand to five OPNX founders, including Kyle Davies and Su Zhu, for carrying out virtual asset exchange services on an unregulated basis in and from the Emirate of Dubai as well as engaging in...

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EU Parliament Finally Passes MiCA as Industry Lauds Effort

While the EU is in the final stages of making MiCA a reality and hence fosters a more defined market participation, the industry has been fussing around the laid-back approach of the US in relation to floating similar rules. The European Union (EU) has now broken the record of being the first region in the world to pass the most comprehensive regulations to guide the broader nascent digital currency ecosystem. The recent approval came from the EU Parliament who voted for the bill by a...

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Voyager $1B Deal with Binance.US Closer to Actualization Following Fed Agreement 

Binance.US is reportedly closer to acquiring Voyager assets after the UCC secured a deal with the US federal government.  Voyager Digital Holdings sees its $1 billion deal with Binance.US move closer to actualization following an agreement with the US government. Yesterday, the bankrupt crypto lender sealed a deal with the federal government that allows Voyager to sell its assets to Binance.US. On Twitter, the Voyager Official Committee of Unsecured Creditors (UCC) elaborated on the...

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Arthur Hayes: Zhu Su ann Kyle Davies-led OPNX Received Funding From Bahrain

The launch of the exchange project, OPNX, earlier this week managed to attract significant backlash from the community. A new development has emerged regarding the funds received for the development of OPNX, which is backed by the founders of the bankrupt hedge fund Three Arrows Capital (3AC). BitMEX’s Arthur Hayes cited an anonymous source and claimed that the founders of the controversial project, Zhu Su and Kyle Davies, received a “lot of money” from the sovereign wealth...

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The Trouble with Crypto Bank Silvergate Is Growing

The trouble surrounding Silvergate Bank appears to be getting worse, and the company has attracted a lot of negative attention in recent weeks after it stated it has concerns about how well it can do in the future. Silvergate Is in Hot Water Silvergate is a crypto lender that lost billions of dollars in 2022 due to the ongoing volatility and market speculation. That year was easily the worst on record for crypto given how poorly assets did. Bitcoin, for example, lost...

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OPNX Crypto Exchange Formed by 3AC Founders Goes Live

Open exchange, or “OPNX,” the crypto exchange created by Su Zhu and Kyle Davies, the founders of the bankrupt cryptocurrency hedge fund Three Arrows Capital, launched on Tuesday, April 4. The platform’s launch will include a distribution of its native token called FLEX. OPNX CEO said users can trade spot and futures in a statement on Twitter. “We are here building OPNX because we want to help the industry,” xyz stated, adding, “Right now, there are over 20 million claimants...

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