Three Arrows Capital founder takes to Twitter to assuage fears following 25% drop in the price of bitcoin in a single day
The “bloodbath” in the cryptocurrency sector may claim another victim, with the co-founder of multibillion dollar hedge fund Three Arrows Capital using Twitter in an attempt to battle rumours that the company is insolvent following the market collapse.
With a net asset value of $18bn (£14.9bn) in its last public statement, the Singapore-based hedge fund was known for taking large highly-leveraged stakes in both crypto businesses and cryptocurrencies directly. It holds positions in cryptocurrencies including bitcoin, Ethereum and Solana, as well as equity investments in companies such as the BlockFi exchange and options trading platform Deribit.
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Originally posted in the guardian.
