Three Arrows Capital owes 27 crypto companies a total of $3.5 billion (list attached)

As the liquidation of Three Arrows Capital (3AC) proceeded, the details of the loan behind it were gradually revealed.

Three Arrows Capital’s bankruptcy and liquidation supervisor Teneo uploaded a 1,157-page Virgin Islands court court document online on July 18, 2022, revealing the details of the Three Arrows Capital (3AC) loan. Three Arrows Capital (3AC) owes a total of $3.5 billion to 27 crypto companies.

The top two creditors are owed nearly $3 billion, but the ending is very different

The largest creditor is Genesis Asia Pacific, a subsidiary of the brokerage subsidiary of Digital Currency Group (DCG). It provided a $2.3 billion loan to Three Arrows Capital (3AC).

The second-largest creditor after Genesis is Voyager Digital LLC, which loaned more than $685 million to Three Arrows Capital (3AC) in bitcoin and ether at current cryptocurrency prices.

The top two creditors provided a total of US$2.985 billion to Three Arrows Capital (3AC), accounting for more than 85% of the total debt of Three Arrows Capital (3AC). But their endings were very different.

Genesis CEO Michael Moro said recently that DCG has taken on some of Genesis’ debt. A DCG spokesperson said: “Both DCG’s and Genesis’ balance sheets remain strong. With no remaining exposure to Three Arrows Capital, Genesis continues to be fully capitalized and its operations are business as usual.”

Voyager is now bankrupt.

Other creditors Deribit, CoinList, SBI, etc. are listed

It is worth noting that Three Arrows Capital (3AC) creditors also include co-founder Zhusu and another co-founder Kyle Davies wife Chen Kelly. Zhusu seeks $5 million in debt and Kyle Davies wife Chen Kelly seeks $65 million in debt.

Excluding the largest creditor Genesis and the second largest creditor Voyager Digital and its co-founders, the picture below shows the other 24 creditors.


Source: theblock

Including: Equities First Holdings, an international investment institution engaged in long-term asset-backed financing;

DRB Panama, the parent company of cryptocurrency exchange Deribit, which lent 1,300 BTC and 15,000 ETH, worth about $51 million at current prices;

Celsius lent about $75 million in USDC;

CoinList Services lent $35 million in USDC;

FalconX lent $65 million.

Other creditors include crypto firms such as Ashla, Arrakis, Moonbase One, Bitget, Mirana, Plutus Lending LLC (aka Abra), Moonbeam Foundation, PureStake, SBI Crypto, Tower Square Capital, Onchain Custodian, Hashkey Trading, and others. 

Posted by:CoinYuppie,Reprinted with attribution to:
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