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Troubled crypto hedge fund 3AC has moved tens of hundreds of thousands of {dollars} to Kucoin
Embattled cryptocurrency hedge fund Three Arrows Capital has transferred tens of hundreds of thousands of {dollars} value of Tether (USDT) and USD Coin (USDC) stablecoins to cryptocurrency alternate KuCoin, in response to data provided by blockchain safety firm PeckShield.
The latest transfers come simply days after 3AC filed for Chapter 15 chapter safety.
The failed hedge fund was lately reprimanded by the Financial Authority of Singapore (MAS), the nation’s monetary regulator for offering deceptive details about the corporate’s property. 3AC was additionally accused of failing to inform the MAS of modifications in shareholding positions.
One of the vital outstanding crypto hedge funds, which had greater than $10 billion value of property underneath administration at its peak, ended up turning into one of many greatest casualties of the market turmoil.
On June 29, a courtroom primarily based within the British Virgin Islands ordered the liquidation of 3AC.
The hedge fund was hit extraordinarily exhausting by the implosion of the Terra ecosystem and the following market collapse.
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