Singapore Central Bank Reprimands Three Arrows Capital for Providing False Information

6/30/2022 1:20:00 PM

The fund also exceeded the threshold of assets it could manage in Singapore, according to the central bank.

CORRECTION: Three Arrows Capital provided misleading information and exceeded its designated threshold for assets under management, Singapore's regulator said. By egreechee

The fund also exceeded the threshold of assets it could manage in Singapore, according to the central bank.

Singapore's central bank, the Monetary Authority of Singapore (MAS), reprimanded embattled hedge fund Three Arrows Capital for providing false information.MAS said the fund gave misleading information to the regulator and exceeded the threshold set for assets under management, the regulator said in a

statementpublished on Thursday.3AC, as the fund is also called, was allowed to manage funds for 30 investors up to S$250 million ($180 million) when it registered as a fund management company in Singapore in 2013, MAS said. The fund had notified MAS that it had changed its management ot a British Virign Islands

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BVI court orders liquidation of Three Arrows Capital: Sky NewsA court in the British Virgin Islands has ordered the liquidation of Three Arrows Capital, according to a report by Sky News. FrankResearcher 3 liquidated capital (3LC)

Court Reportedly Orders Liquidation Of Crypto Hedge Fund Three Arrows Capital, Threatening More Market TurmoilThe reported insolvency of Three Arrows Capital could plunge an already bearish crypto market even lower. This is good for bitcoin

Three Arrows Capital Ordered Into Liquidation by a Birtish Virgin Islands CourtThree Arrows Capital has been ordered into liquidation by a court in the British Virgin Islands.

BREAKING: Court Orders Liquidation of Three Arrows CapitalICYMI: a BVI court has ordered the liquidation of Three Arrows Capital $BTC

Teneo to handle ‘liquidation’ of Three Arrows Capital, not ‘insolvency’Teneo will handle the “liquidation” of Three Arrows Capital, a person with direct knowledge of the matter told The Block. Yogita_Khatri5 Don’t you mean crypto *borrower*?

Virgin Islands court orders liquidation of crypto hedge fund Three Arrows CapitalThe turmoil that is now affecting the cryptocurrency market was brought further to light when a court in the British... Continue reading

on Twitter Singapore's central bank, the Monetary Authority of Singapore (MAS), reprimanded embattled hedge fund Three Arrows Capital for providing false information.by Sky News, citing a person familiar with the situation.that British Virgin Islands-based Teneo Restructuring is handling the insolvency proceedings.The Singapore-based cryptocurrency hedge fund – Three Arrows Capital – has reportedly been ordered into liquidation following the downturn of the market and the challenges it faced recently.

MAS said the fund gave misleading information to the regulator and exceeded the threshold set for assets under management, the regulator said in a statement published on Thursday. 3AC, as the fund is also called, was allowed to manage funds for 30 investors up to S$250 million ($180 million) when it registered as a fund management company in Singapore in 2013, MAS said. According to the report, partners from Teneo Restructuring are handling the firm's insolvency. The fund had notified MAS that it had changed its management ot a British Virign Islands The fund, founded in Singapore in 2012, has seen heavy losses during a market rout that has had bitcoin (BTC) hovering around $20,000 in recent weeks, compared to peaks of $60,000 earlier this year.5% to $20,062 early on Wednesday morning—after briefly falling below $20,000—but it is likely to drop further if the report is confirmed. Three Arrows Capital was after it incurred at least $400 million in liquidations. About Author Tim is a News Editor at The Block who focuses on DeFi, NFTs and DAOs. British Virgin Islands 3AC's local entity into a liquidation phase on Wednesday. The company previously disclosed exposure to the extent of some $500 million to Three Arrows Capital and also stated that it’s “unable to assess the amount it will be able to recover.

3AC did not respond to request for comment at press time. He has earned a BA in Philosophy from the University of York and studied News Journalism at the Press Association. Follow me on. Read more: .