3AC Fund Was Liquidated And Lost Nearly $400 million

3AC Fund Was Liquidated And Lost Nearly $400 million

Share Post:

Setting foot into this week has been an entire collapse of the crypto world as the market continues to plunge, leaving many in fear, however, the week seems to be worse for the Three Arrows Capital as the firm faces potential insolvency after being liquidated by its lenders.

Amidst the recent market condition, it is important that you stay healthy, this is why we have a VIP membership on Binance, Bybit, and Kucoin exchanges, and out of concern for folks in the crypto space regarding the recent market condition.

MyCryptoParadise will be offering a 20% discount for you; use PRO20% as your promo code, long or short, it is a win-win with us, hurry now as this promo will soon be expiring.

See reviews from our clients

The plunge in the crypto market continues as Bitcoin is currently trading a little above $20k and Ethereum is tumbling towards $1k. As a result of this market trend, the Three Arrows Capital(3AC) future is seeming to be uncertain, according to different analytics information shared on Twitter by various accounts.

However, more speculations continue after the 3AC founder, Zhu Su tweeted that the firm is “communicating with relevant parties” and committed to “working this out.”

According to on-chain data, an address that is said to belong to the 3AC was seen selling millions of Lido Staked Ethereum (stETH) through multiple transactions to keep its positions from being liquidated.

Its exposure to the Terra crash, Celsius and stETH has also raised questions over the state of its finances.

In a tweet by a crypto commentator shown below, the firm will face  $264 million liquidations on Aave should the Ethereum price fall close to $1,014. As of writing this, Ethereum is currently trading at $1,038.

In addition to Zhu’s comments, the block rumored that the firm is in communication with its lenders in order to gain more liquidity and wave the liquidation.

ETH is already struggling against selling pressure caused by the stETH depeging, an event that has spread to several DeFi platforms and could cause a chain of liquidations across the market.

Celsius will also see some of its positions liquidated in the event of ETH falling below $1000- a scenario that may play out after the Fed rate hike today.

Become a member of our Paradise VIP family; with our Binance, Kucoin, and Bybit VIP, you can get life-changing access to knowledge and information in the cryptocurrency trading space with exclusive trading signals and precise trading strategies to maximize your market positions; use our coupon code PRO20%  for a massive 20% discount on your premium membership purchase (Hurry up as this offer is expiring soon); long or short, it is a win-win with us; Join our telegram channels for free trading signals today;

Subscribe
Notify of
guest

0 Comments
Inline Feedbacks
View all comments

Recent Articles

Follow Us

Trade Crypto Like a PRO

Decrease the risk of losing everything you have.

A team of 4 professional traders is sharing their personal daily trade setups with you.

Imagine finally having the right strategy, insights and knowledge to profit from the volatile crypto market movements consistently.

Safe Time, and Start Trading Like a PRO Today
Dark Mode