Singapore authorities approve probe of 3AC on behalf of liquidators: Report
Liquidator Teneo has recovered only a miniscule portion of the Singapore-based Three Arrows Capital so far, while cofounder Zhu has allegedly tried to sell property there.
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Liquidator Teneo has recovered only a miniscule portion of the Singapore-based Three Arrows Capital so far, while cofounder Zhu has allegedly tried to sell property there.
With liquidity drying up in the wake of CeFi contagion, borrowers are turning to decentralized finance for their credit needs.
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The crypto lender’s liquidation price on its Bitcoin loan has dropped to less than $5,000, according to DeFi industry data.
After the TSX-listed Voyager Digital revealed that it was owed $655 million from Three Arrows Capital (3AC), the company secured a $500 million credit line from Alameda Ventures in order…
The cryptocurrency exchange filed a notice of default to Singapore-based Three Arrows Capital earlier in the week, but promised it would continue operations.
"Ultimately, the cryptocurrency may be liquidated if the collateral value falls below a certain threshold, such as 35% of the property value,” said the report.