The troubled crypto hedge fund Three Arrows Capital Ltd., otherwise known as 3AC, has filed for bankruptcy according to recent court filings. The court papers show 3AC is aiming for an ancillary Chapter 15 proceeding so liquidators and creditors cannot seize the firm’s U.S. assets.
The JPMorgan executive added that “Indicators like our Net Leverage metric suggest that deleveraging is already well advanced. The fact that crypto entities with the stronger balance sheets are currently stepping in to help contain contagion.”
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