The Latest Breaking News from 3AC

As Three Arrows Capital (3AC) goes through the liquidation process mandated by the Order of the Eastern Caribbean Supreme Court in the High Court of Justice in the British Virgin Islands, the full depth of the company's implosion and its effect on the crypto industry is starting to become clear.

CNBC Amazon Courts More Trouble As Regulators Inspect Its Warehouses

This week, a tour of the Subcontinent. Gotabaya Rajapaksa finally took the hint and people partied through the state of emergency. Pakistan is flooding (both ways) and India claims more bragging rights.

As investors await inflation data, Bitcoin and other major coins continue to tread red waters. The global cryptocurrency market cap declined 2.85% to $864.3 billion on Tuesday.

By CK Zheng, Co-founder and CIO, ZX Squared Capital

A co-founder of a collapsed crypto hedge fund reportedly once worth $10 billion has hit back at accusations by liquidators that he is refusing to cooperate with them.

Voyager Digital, a major cryptocurrency investment firm, declared bankruptcy on July 6 after crypto hedge fund Three Arrow Capital (3AC) defaulted on a US$650 million loan.

Stephen Ehrlich, the company's CEO noted that "volatility in the crypto markets" has forced his hand as the company filed for Chapter 11 bankruptcy.

Days after it suspended trading, deposits, and withdrawals on its platform, cryptocurrency lending platform Voyager Digital LLC (OTC: VYGVF) filed for Chapter 11 bankruptcy protection in New York, according to its court 

Major crypto exchange Voyager Digital halted all trading, deposits and withdrawals, preventing all users from accessing their funds after losing over half of its assets from Three Arrows Capital's (3AC) default on a loan worth over US$650 million.

This crypto boom, unlike the last, was marked by debt — that is a greed problem, not a blockchain one.