3ac

ChainCatcher news, the liquidators of Three Arrows Capital (3AC) are attempting to amend their claim against FTX, increasing the claim amount from $120 million to $1.53 billion.The liquidators of 3AC claim that FTX liquidated and seized their assets on the platform two weeks before the hedge fund's collapse to settle a $1.33 billion debt. The hedge fund argues that these transactions were "avoidable and unfair," causing harm to 3AC's creditors. 3AC believes the liquidation should be invalidated, accusing FTX of undervaluing the transactions and breaching trust and contract.The bankrupt hedge fund also claims that FTX delayed providing necessary information, forcing 3AC to parse original data to calculate losses. As a result, 3AC states that it could only confirm the liquidation amount in August. However, FTX responded that an unnamed individual associated with 3AC initiated the asset liquidation. FTX has not identified this person. A court hearing will be held on November 20 to discuss 3AC's motion to amend the claim.

ChainCatcher message, Three Arrowz Capital (3AC) announced its new token burn mechanism for the $3AC token, where every 100 on-chain users holding tokens worth over $100 will trigger a 1% burn of the token supply. The project team will take on-chain data snapshots every Friday to determine the burn ratio.

ChainCatcher news, Zhu Su posted on X that he has gone long on 3AC at $0.0321.

ChainCatcher news, according to Lookonchain monitoring, "Brother Maji" Huang Licheng spent 125 ETH (approximately $336,800) to purchase 3.28 million Meme coins 3AC, with an average price of $0.1028.

According to ChainCatcher news, monitored by Lookonchain, a trader's address spent 238 ETH (approximately $641,500) to snipe 28.03 million 3AC during the initial trading of the Meme coin 3AC. Then, they sold 24.95 million 3AC for 799 ETH (approximately $2.15 million). This resulted in a profit of 561 ETH (approximately $1.5 million), and they currently hold 3.08 million 3AC (approximately $369,000).

ChainCatcher news, according to Spot On Chain monitoring, 3AC liquidator Teneo has deposited 2.18 million STRK (2.63 million USD) into Binance in the past three days. Currently, Teneo still holds 130 million STRK (157 million USD) of 3AC assets, becoming the second largest non-team/CEX STRK holding wallet. Yesterday, after Vitalik Buterin claimed to have received 845,000 STRK (1.07 million USD), the price of STRK dropped by 6% (24 hours).

ChainCatcher news, on social media, on-chain analyst Yu Jin stated that 3AC's liquidator Teneo transferred 135,000 AVAX (approximately 7.87 million USD) to the Binance platform an hour ago.Since 3AC's wallet transferred 1,369,000 AVAX to Teneo on May 10, 2023, the market price of AVAX has seen significant changes. Since January 25 of this year, Teneo has transferred a total of 1,080,000 AVAX (approximately 45.73 million USD) at an average price of 42.35 USD.It is reported that this includes the transfer of 675,000 AVAX to Binance and 405,000 AVAX to B2C2Group. Teneo currently still holds 289,000 AVAX, worth approximately 16.77 million USD.

ChainCatcher news, Mechanism Capital co-founder Andrew Kang purchased the original Pepe NFT originally owned by 3AC through Sotheby's auction house, with the transaction amount undisclosed. This NFT is the first Pepe NFT authorized by the original creator Matt Furie. The NFT was first sold on April 17, 2021, for 420 ETH. It was subsequently acquired by 3AC's Starry Night Capital on October 5, 2021, for 1000 ETH.

ChainCatcher news, according to monitoring by Shield, the 3AC liquidator Teneo address has transferred 34,750 USDC to a new address (0xc41ff...713c).

ChainCatcher news, Zhu Su posted on the X platform stating that his investment in Worldcoin in 2021 faced a lot of criticism, as there were many negative reports about the project at that time, to the extent that most seed round investors refused to post support for the project on Twitter (now known as X).Zhu Su also mentioned that he would not directly benefit from the performance of WLD, but he is glad that 3AC's creditors hold one of the largest WLD positions. It is reported that on October 21, 2021, Zhu Su stated: "Worldcoin is one of the most ambitious and exciting projects I have seen in the crypto space so far."

ChainCatcher news, according to market news, the British Virgin Islands court has ordered a global freeze on the assets of 3AC co-founders, amounting to up to $1.144 billion.

ChainCatcher news, 3AC and OPNX founder Zhu Su may have been released from prison and posted a tweet on the X platform: "gm".Previously, ChainCatcher reported on September 29 that Three Arrows Capital founder Su Zhu was arrested in Singapore and sentenced to four months in prison.

According to ChainCatcher news and a report by CoinDesk, the cryptocurrency lending platform BlockFi, which has filed for bankruptcy reorganization, has had its proposal accused of abusing bankruptcy rules, involving over $1 billion in disputed transactions.BlockFi plans to discuss this at a court hearing in New Jersey on July 13, but it faces opposition from Three Arrows Capital and the SEC. Three Arrows Capital claims that BlockFi owes it over $220 million and states that it has not been given the opportunity to contest the fraud allegations, while the SEC argues that the proposed terms for liquidating BlockFi and its management are too vague and broad (source link)

ChainCatcher news, the crypto claims and trading platform OPNX founded by Three Arrows Capital founder Zhu Su and others tweeted that 3AC Ventures has become a partner in the OPNX ecosystem. This partnership will invest in projects that are built within the OPNX ecosystem and are committed to achieving decentralization. (source link)

ChainCatcher news, according to CoinDesk, reports that Genesis has submitted a revised liquidation plan according to court documents, while mediation talks regarding the funds owed by its parent company DCG are still ongoing. The document states that the latest restructuring plan "reflects a substantial agreement on certain key issues."The plan indicates that there are disputes over claims between DCG and the bankrupt Three Arrows Capital (3AC), suggesting that creditors will not be able to recover all of their claims.Additionally, DCG's creditors will be treated the same as other unsecured creditors but will not benefit from any proceeds arising from the debts owed by the parent company. In January of this year, DCG stated that it owed Genesis Capital $526 million, which is due in May 2023, along with another $1.1 billion in promissory notes due in June 2032.Claims related to FTX and Alameda Research should not be allowed to benefit from any recovered fraudulent transfers. FTX claims that Genesis owes it $3.9 billion, which Genesis denies. In another document submitted on Tuesday, FTX stated that its claims against Genesis should be adjudicated as part of its litigation proceedings in Delaware. (CoinDesk)

ChainCatcher news, 3AC founders Kyle Davies and Su Zhu have been ordered to appear in court on May 22 in the British Virgin Islands. If the 3AC founders fail to respond to the order, they will be held in contempt of court.Additionally, Kyle Davies and Su Zhu are required to provide all documents related to the company's bankruptcy to the liquidators by April 14. (source link)

ChainCatcher news reports that court documents show that weeks before filing for bankruptcy, the crypto hedge fund Three Arrows Capital (3AC) sent a one-page net asset value (NAV) statement to the lending institution Voyager Digital. The two parties conducted only one due diligence review. Voyager's Chief Business Officer Jon Brosnahan stated that, according to Chief Financial Officer Ryan Whooley, this due diligence took place on February 28, 2022, and lasted between 30 minutes to an hour.The document disclosed details of Voyager Digital's due diligence on Three Arrows Capital. "The Voyager due diligence team did not have 3AC's income statement, cash flow statement, or balance sheet, nor did they conduct any liquidity stress tests on 3AC. Many employees involved in the due diligence stated that they did not have a background in credit risk assessment." (source link)