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New Documents Show 3 Arrows Capital Owed $3.5 Billion to 27 Creditors
Summary: According to court documents published today by 3AC's liquidators, the bankrupt crypto hedge fund borrowed $3.5 billion from nearly 30 companies. The most prominent name on the creditors' list is Genesis Asia Pacific Pte Ltd, a DCG Digital Currency Group subsidiary with $2.3 billion. According to Michael Moro, CEO of Genesis, DCG will cover part ...
According to court documents published today by 3AC's liquidators, the bankrupt crypto hedge fund borrowed $3.5 billion from nearly 30 companies. The most prominent name on the creditors' list is Genesis Asia Pacific Pte Ltd, a DCG Digital Currency Group subsidiary with $2.3 billion. According to Michael Moro, CEO of Genesis, DCG will cover part of Genesis' debts.
Details about 3AC'c loans were released by 3AC's liquidation law firm Teneo in a 1157-page document uploaded on Monday. According to a spokesperson for DCG quoted by The Block, both DCG and Genesis are still "well-capitalized" and have no "remaining exposure" to 3AC, which filed for Chapter 15 bankruptcy in New York court earlier last week.
The second big name on the creditors' list is Voyager Digital LLC, with a loan to 3AC in the sum of $685 million.
Other companies include DRB Panama Inc with a $51 million loan to 3AC, Celsius Network with $75 million, and FalconX with $65 million. Among the creditors are also Zhu Su (3AC co-founder) with a $5 million loan, and Chen Kelly, co-founder Kyle Davies' wife, who seeks $65 million.
These companies appear to be preparing for a long legal battle to get whatever funds back they can.
Author: Garrett Meifert
Tags: Bitcoin,Celsius Network,Three Arrows Capital,Voyager Digital
Link: New Documents Show 3 Arrows Capital Owed $3.5 Billion to 27 Creditors [Copy]
