BITCOIN

[Weather Man]

Founders of bankrupt crypto hedge fund Three Arrows Capital nowhere to be found​

Jul. 12, 2022 10:21 AM ET3 Comments
The founders of Three Arrows Capital, a formerly prominent crypto hedge fund that recently went bankrupt, are nowhere to be found as of Friday and hence are not cooperating with its liquidation process, Bloomberg reported Tuesday, citing court filings.
Recall that Three Arrows towards the end of June was ordered to liquidate by a court in the British Virgin Islands. While a court hearing is set for Tuesday, there has not yet been "any meaningful cooperation” from 3AC founders Kyle Davies and Zhu Su, lawyers said in the filings, as reported by Bloomberg.
“Here, that risk is heightened because a substantial portion of the Debtor’s assets are comprised of cash and digital assets, such as cryptocurrencies and non-fungible tokens, that are readily transferable,” the liquidator's lawyers said in court papers, as quoted by Bloomberg.
The founders, meanwhile, have provided details about the fund's assets to the liquidators and they will keep working to find information regarding other assets. Overall, "our good faith to cooperate with the Liquidators was met with baiting," Zhu wrote in a Twitter post.
Three Arrows' meltdown started after it failed to meet margin calls from its lenders after its crypto bets turned sour amid a broad market downturn. That came shortly after it incurred at least $400M in liquidations. And it wasn't until the beginning of July when 3AC filed for Chapter 15 bankruptcy.

 

[Coosawjack]

NO BUENO AMIGOS!!

 

[q6543]

Moving through a financial meltdown/bank run/GFC on its own 2 legs with no FED bailouts.

What arises from these ashes will be the new private financial system, with more faith, trust, and integrity than anything in human history.

And people refuse to see it.
Removing bad actors is good, even if it's painful.

Terrible about 3AC, LUNA, VOYAGER etc..
I Definitely felt pain in some of these.

 

[jacker1991]

Celsius filed for bankruptcy.

 

[me32]

Moving through a financial meltdown/bank run/GFC on its own 2 legs with no FED bailouts.

What arises from these ashes will be the new private financial system, with more faith, trust, and integrity than anything in human history.

And people refuse to see it.
Removing bad actors is good, even if it's painful.

Terrible about 3AC, LUNA, VOYAGER etc..
I Definitely felt pain in some of these.

Those who has been paying attention over the years are not surprised. Your beliefs things will actually change are funny. Nothing really changes. The big banks will be fine just like last time. The ponzi scheme banks will fall. The Ceo will walk away with millions.

Celsius filed for bankruptcy.

Its just the beginning

 

[MG0h3]

Moving through a financial meltdown/bank run/GFC on its own 2 legs with no FED bailouts.

What arises from these ashes will be the new private financial system, with more faith, trust, and integrity than anything in human history.

And people refuse to see it.
Removing bad actors is good, even if it's painful.

Terrible about 3AC, LUNA, VOYAGER etc..
I Definitely felt pain in some of these.

Lmfao a private financial system!?

That’s what ALL of you said crypto was up until a few weeks ago.


Sent from my iPhone using the svtperformance.com mobile app

 

[Silverstrike]

Wow wish I would invest into something that is only propped up by word of mouth and blind faith. Gee I thought that was why the SEC was founded to begin with.

Again other than what I have pointed out, what really is backing up the crypto? And until someone actually shows me proof. This is and probably one of the significant ponzi schemes I have ever witnessed in my lifetime.

 

[q6543]

Again... you can short bitcoin futures contracts through $BITI

Someone please profit off this "ponzi"
And post a position.
Free money according to some.

Bitcoin is backed by the network of people that see value in a system not backed by governments, banks, weapons.

 

[jvandy50]

Again... you can short bitcoin futures contracts through $BITI

Someone please profit off this "ponzi"
And post a position.
Free money according to some.

Bitcoin is backed by the network of people that see value in a system not backed by governments, banks, weapons.

would've been nice if they'd had that before the big drop. convenient timing to say the least, enough to spook me, and just in time for chop

 

[KilledbyKenne]

would've been nice if they'd had that before the big drop. convenient timing to say the least, enough to spook me, and just in time for chop

But it's going to zero, bro. Plenty of drop left for anyone willing to put their money where their mouth is.

 

[Klaus]

That was then:

This is now:

Crypto lender Celsius files for bankruptcy, still won’t let users withdraw funds

Firm scoffed at "misinformation"—then halted withdrawals and filed for bankruptcy.

arstechnica.com

 

[jvandy50]

That was then:

This is now:

Crypto lender Celsius files for bankruptcy, still won’t let users withdraw funds

Firm scoffed at "misinformation"—then halted withdrawals and filed for bankruptcy.

arstechnica.com

To add to this big oof

 

[Weather Man]

Cybercriminals posing as legitimate investment firms and cryptocurrency exchanges have stolen tens of millions of dollars from more than 200 people by convincing them to download mobile apps and deposit cryptocurrency into wallets owned by the perpetrators.…

According to an alert sent out on Monday by the FBI, the cyber-thieves are contacting US investors, fraudulently claiming to be legitimate organizations offering cryptocurrency services and mobile apps. Once the marks download the apps and deposit funds into the account, they are unable to get them back.

To date, the Feds have identified 244 victims of the scams, saying that $42.7 million was stolen between October 2021 and this May. The bureau is warning both financial institutions and investors to protect themselves against such schemes.

 

[Weather Man]

Galaxy Digital CEO Mike Novogratz said Tuesday that bitcoin (BTC-USD) will likely reach $500K within the next five or so years given its unique properties and adoption growth.

 

[KilledbyKenne]

It's actually on its way to zero. Haven't you been paying attention?

 

[CompOrange04GT]

Galaxy Digital CEO Mike Novogratz said Tuesday that bitcoin (BTC-USD) will likely reach $500K within the next five or so years given its unique properties and adoption growth.

Sounds like you should invest

 

[q6543]

Here are some cool visuals of nodes and channels from the bitcoin lightning network.
Every dot you can zoom in on and see their network reach.
I did kraken as an example.

Maybe it will help some visualize and gain perspective.

 

[mysticsvt]

Ya'll seeing Crypto jumping a bit? I'm up a couple grand now in the last week.

 

[Coosawjack]

Are ya able to "Day-Trade" this stuff??

 

[Weather Man]

Sounds like you should invest

When $100,000 just doesn't get the suckers motivated anymore.