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Crypto hedge fund Three Arrows Capital addresses liquidation rumours

Three Arrows Capital, a cryptocurrency hedge fund, declared on Wednesday that it was committed to working things out, presumably in response to social media speculation that it was having liquidity concerns.

June 15, 2022 / 06:24 PM IST
Representative Image

Representative Image

Cryptocurrency hedge fund Three Arrows Capital said on Wednesday it was committed to working things out, seemingly addressing social media chatter that it is facing liquidation issues.

"We are in the process of communicating with relevant parties and fully committed to working this out," Su Zhu, the co-founder said in a tweet, without going into further detail.

The Singapore-based hedge fund was set up in 2012, as per its website.

The rumours of funding pressures come as bitcoin hit a fresh 18-month low, extending falls triggered after major crypto lender Celsius Network froze withdrawals and the prospect of sharp U.S. interest rate rises shook the volatile crypto asset class.

The digital currency sector has been pummelled this week after U.S. crypto lender Celsius froze withdrawals and transfers between accounts, stoking fears of contagion in markets already shaken by the demise of the terraUSD and luna tokens last month.

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The world's largest cryptocurrency fell as much as 7.8% to $20,289, its lowest since December 2020. It has lost around 28% since Friday and more than half of its value this year. It has slumped about 70% from its record high of $69,000 in November.
Reuters
first published: Jun 15, 2022 06:24 pm
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