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.
A court order in the BVI was made on June 27 to liquidate 3AC, Sky News said, citing a person familiar with the situation.
Partners from Teneo Restructuring have been called upon to handle the insolvency, Sky News said.
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.
3AC did not immediately respond to CoinDesk’s request for comment.
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