Court liquidates cryptocurrency platform Three Arrows Capital

A court in the British Virgin Islands has ordered the liquidation of the hedge fund Three Arrows Capital, all because of the company’s recent default announcement. According to journalists, the company’s insolvency is being investigated by the global consulting firm Teneo.

The problems with Three Arrows Capital’s finances began in early June, when the hedge fund suffered from the Terra collapse and the fall of the cryptocurrency market. Earlier this month, the hedge fund was looking for partners to enter into a financial assistance agreement (after it started selling off its assets).

Three Arrows Capital is not the only one facing major financial problems. The cryptocurrency company Celsius Network is on the verge of bankruptcy, but the management has refused to announce it officially. The liquidation of influential cryptocurrency companies may cause even more difficulties for the cryptocurrency sector, which is trying to «survive» during the «cryptocurrency winter».