 | |
| Company type | Private |
|---|---|
| Industry | Hedge fund |
| Founded | 2012 |
| Founders | Kyle Davies, Su Zhu |
| Defunct | June 27, 2022 |
| Fate | Liquidation[1] Bankruptcy[2] |
| Headquarters | Singapore |
| Website | www.threearrowscap.com |
Three Arrows Capital (also known as 3AC or TAC) was a Singapore-based cryptocurrency hedge fund which was ordered to liquidate on 27 June 2022 by a court in the British Virgin Islands.[1] It was founded in 2012 by Kyle Davies and Su Zhu.[3][4][5] The company borrowed billions of dollars to fund its trading, and according to July 2022 bankruptcy filings, faces $3.5 billion in creditors' claims.[6][7] The fund appears to have lost in excess of $3 billion over 2021 and 2022, making its collapse one of the largest hedge-fund trading losses of all time.[citation needed]
- ^ a b "Crypto hedge fund Three Arrows Capital plunges into liquidation". Sky News. Retrieved 29 June 2022.
- ^ "Crypto Hedge Fund Three Arrows Files For Chapter 15 Bankruptcy". Bloomberg. 1 July 2022. Retrieved 30 July 2022.
- ^ "Singapore-based crypto hedge fund's cryptic tweet fuels speculation over losses". The Business Times (Singapore). Retrieved 15 June 2022.
- ^ Ng, Serena (17 June 2022). "Battered Crypto Hedge Fund Three Arrows Capital Considers Asset Sales, Bailout". The Wall Street Journal. Retrieved 17 June 2022.(subscription required)
- ^ "Ethereum ($ETH), Not Bitcoin ($BTC), Favorite for These Crypto Whales". Bloomberg News. 25 May 2021. Retrieved 15 June 2022.
- ^ "Three Arrows Liquidators Seize $40 Million as Asset Probe Widens". Bloomberg. 21 July 2022. Retrieved 30 July 2022.
- ^ "3AC". 15 August 2022.