3AC Liquidity Crisis Update

On June 13, Zhu Su, co-founder of Three Arrows Capital, has removed ETH, AVAX, LUNA, SOL, NEAR, MINA and other Tokens from his Twitter profile. On June 15, sources revealed that the total liquidation amount of Three Arrows Capital on Deribit, BlockFi and other lending platforms was up to $400 million. This indicator provides a real-time tracking of news reports on Three Arrows Capital's liquidity crisis.

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Facing Margin Calls and Impending Liquidations, 3AC Embezzled $1M Fund From 8 Blocks Capital
KingData News: On June 16, 8 Blocks Capital Head of Trading Danny said that 3AC embezzled over 100 million dollars without permission in response to margin calls and liquidation risk. Danny tweeted: "From Nov 2020, we entered into an agreement with 3AC in which we would pay them a fee to use their trading accounts. As a delta neutral market maker in the crypto markets, we are very sensitive to trading fees. So our agreement with them was: we withdraw whenever we want. 100% of the PNL belongs to us. They are never to move our funds without permission (increases the risk of our positions getting liquidated) and in return, we pay them fees for their service. On June 12th, with the market dropping and needing some funds from the account for positions on other exchanges, we asked for a withdrawal from the Ops team which was honored. On June 13th, with the continuation of the drop, we asked for a bigger withdrawal. There was no reply but we didn't think much of it at the time. After a while, the market stablized so we no longer needed the funds. We thought maybe they were just busy. Fast forward to 24 hours ago, our funds monitoring script noticed that ~1m was missing from our accounts with them. We reached out to KyleLDavies, co-founder of 3AC, and the Ops team on Telegram about the missing funds- no replies. We tried calling them- they were online and they didn't pick up. What we learned is that they were leveraged long everywhere and were getting margin-called. Instead of answering the margin calls, they ghosted everyone. The platforms had no choice but to liquidate their positions, causing the markets to further dump."
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