Crypto Crash: A First Big Domino Falls. Who’s Next?


The fears of crypto industry players have just materialized. 

For the first time since the crisis of confidence that plagued the sector following the crash in cryptocurrency prices and the collapse of some tokens — Luna and UST — a big domino has fallen. 

The inevitable has finally happened. 

Indeed, the hedge fund Three Arrows Capital (3AC), based in Singapore, has just gone into liquidation, TheStreet learned on June 29.

A British Virgin Islands court has ordered the hedge fund liquidated and appointed two firms to handle the process, these sources told TheStreet on condition of anonymity. One of the liquidators and the firm specializing in restructuring Teneo