• Sat. Oct 1st, 2022

Here Is Everyone (For Now) 3 Arrows Capital (3AC) Owes Money To

ByAJ Fabino

Jul 20, 2022
Here Is Everyone (For Now) 3 Arrows Capital (3AC) Owes Money To

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.

The details come from affidavits filed on July 7 show 3AC owes $3.5 billion to 27 companies and individuals who loaned the company money.

Chen Kaili Kelly, wife of co-founder Kyle Davies, made a claim against the lenders for around $66 million. Zhu Su, a co-founder, put up a $5 million claim.

According to Wu Blockchain, 3AC’s biggest creditor, Genesis Asia Pacific, filed a $1.2 billion claim against the company after providing the business with a $2.36 billion loan secured by 3AC’s Grayscale Ethereum Trust GBTC, Avalanche AVAX/USD, and Near Protocol NEAR/USD tokens.

Other creditors dealing with 3AC include Celsius Network and Voyager Digital, both of which have filed for bankruptcy. An $80 million claim has been made by Deribit, a cryptocurrency derivatives exchange, under the name DRB Panama Inc. Deribit lent 1,300 Bitcoin BTC/USD and 15,000 Ethereum ETH/USD, totaling approximately $55.37 million at the current prices.

Also read: Celsius Bankruptcy Hearing: Lawyers Claim Users Gave Up Legal Rights To Crypto

Algorand ALGO/USD, another popular cryptocurrency is also a creditor as revealed on Twitter Inc TWTR on July 18.

 

 

Additionally, it was disclosed in the papers that ThreeAC Limited, the investment management division of 3AC, filed a $25 million lawsuit against the parent business.

 

The list of creditors, below, released in the liquidation filing is still not complete:

 































Creditor

Principle Amount/Recall Amount

Liquidated Capital

Equities First Holdings LLC

US$31,133,100


US$38,841,600


US$45,745,300


US$44,339,500

1,000,000 GBTC.US


1,500,000 GBTC.US


2,000,000 GBTC.US’


2,000,000 GBTC.US

Voyager Digital LLC

15,250 BTC


350,000,000 USDC

Unknown

Tower Square Capital Limited

106.620552 BTC at 3.5% interest


52.32976266 BTC at 3.5% interest


13206.76723 USDC at 5% interest


1098257.337 USDT at 5% interest


23285.24488 USDT at 7% interest

Unknown

Ashla International Inc

500 BTC


10,000,000 USDT

Unknown

Plutus Lending LLC

10,000,000 USDT

Unknown

Connor Zautke

12.7233 BTC


109.4143 ETH

 

Stephen Zautke

218.3534 BTC


1,735.3587 ETH

 

LuneX Ventures LP

88 BTC

 

Kenrick Drijkoningen

55 BTC


US$250,000

Unknown

Play Future Fund Limited

US$600,000 capital call

 

Banton Overseas Limited

150 BTC at 4% interest


387 ETH at 4% interest

Unknown

Moonbeam Foundation Ltd

200,000 MOVR


10,000,000 GLMR

Unknown

Moonbase One Ltd

7,000,000 USDC


10,000,000 USDC

Unknown

PureStake Ltd

8,000,000 USDC

Unknown

Livetree Community Ltd

US$300,000


10,000 DOT

Unknown

Onchain Custodian

30.18386678 BTC

Unknown

Singapore Bitget Pte Ltd

US$16,322,226

US$6,615,000

SBI Crypto Co Ltd

362.82191561 BTC

506.69 ETH

210K Capital, LP

67.43745958 BTC


0.76355046 BTC

Unknown

Hashkey Trading

444,196.08 USDT

69.21 BTC


(accounted for in


balance principle)

FalconX Ltd

US$65,474,982.33

Unknown

Mirana Corp

US$13,062,418.07

US$37,098,062.97


(accounted for in


balance principle)

CoinList Services LLC

35,000,000 USDC

Unknown

DRB Panama Inc

1300 BTC


15,000 ETH

Lender indicated they


are liquidating account

Genesis Asia Pacific Pte Ltd

US$2,360,302,065

2,125,794 shares of


Grayscale Bitcoin


Trust


446,928 shares in


Grayscale Ethereum


Trust


2,076,238 shares in


Grayscale Bitcoin


Trust


13,241,612 shares of


Grayscale Bitcoin


Trust


2,739,043.83 AVAX


tokens


13,583,265 NEAR


tokens

Arrakis Capital

20,000,000 USDC

Unknown

Celsius Network

50,226,027.40 USDC


25,118,150.68 USDC

Unknown





Image and article originally from www.benzinga.com. Read the original article here.