, Deribit Among Creditors That Pushed for 3AC Liquidation: Report has also said it is cooperating with ongoing investigations into the hedge fund, which "defrauded the crypto industry."

AccessTimeIconJul 1, 2022 at 9:00 a.m. UTC
Updated May 11, 2023 at 6:48 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Crypto exchanges and Deribit were among the creditors to have pushed for the liquidation of troubled hedge fund Three Arrows Capital (3AC), Bloomberg reported on Friday.

  • has also said it is cooperating with ongoing investigations into the hedge fund, which "defrauded the crypto industry," the report said, citing a spokesperson.
  • The liquidation of 3AC was ordered in a British Virgin Islands court earlier this week. New York-based Teneo Restructuring was called in to work with creditors and handle the insolvency.
  • 3AC suffered heavy losses in the recent crash in the crypto markets, with the possibility of insolvency reported in mid-June after the firm incurred at least $400 million in liquidations.
  • Crypto derivatives exchange Deribit was among those to liquidate 3AC's capital positions after the hedge fund failed to meet margin calls.
  • “We believe Three Arrows Capital defrauded the crypto industry and intend to hold them accountable to the fullest extent of the law,” a spokesperson said in a statement, according to Bloomberg's report. “We have filed for the immediate liquidation of all global assets of Three Arrows.”
  •, Deribit and 3AC did not immediately respond to CoinDesk's request for comment.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish, a cryptocurrency exchange, which in turn is owned by, a firm with interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets including bitcoin and EOS. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.

Jamie Crawley

Jamie Crawley is a CoinDesk news reporter based in London.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.