The liquidation of crypto hedge fund Three Arrows Capital (3AC) has been ordered in a court in the British Virgin Islands (BVI), according to a report from Sky News.
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A court order in the BVI was made on June 27 to liquidate 3AC, Sky News said, citing a person familiar with the situation.
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Partners from Teneo Restructuring have been called upon to handle the insolvency, Sky News said.
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Three Arrows capital has suffered heavy losses in the recent sharp downturn in the crypto markets. The possibility of insolvency was reported in mid-June after it incurred at least $400 million in liquidations.
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3AC did not immediately respond to CoinDesk’s request for comment.
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