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The co-founder of the Three Arrows Capital fund got in touch for the first time in a month. He claimed harassment

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After nearly a month of being out of the public eye, the co-founder of crypto fund Three Arrows Capital (3AC) has once again come forward. On his Twitter, he posted screenshots of email correspondence from Advocatus Legal LLP, a law firm that represents 3AC in the bankruptcy liquidation of the fund’s assets, with the liquidators themselves. 

Meanwhile, lawyers involved in the case had previously said there were concerns about the disappearance of the company’s top executives. Suu Joo himself believes there is a deliberate campaign to discredit them. We’ll tell you more about the situation.

Note that the situation around one of the once leading cryptocurrency funds is getting worse. In particular, today it became known about the meeting of creditors, Three Arrows Capital, which will be held on July 18 and will be held by employees of the financial consulting firm Teneo.

To that end, they have also made a website that will gather the necessary information regarding the liquidation of the 3AC crypto fund.

It also became known yesterday that Three Arrows Capital crypto fund co-founders Soo Joo and Kyle Davis had no plans to participate in a court hearing in New York regarding what’s happening with 3AC. And that’s hardly a good sign for the company.

What’s going on with Three Arrows Capital?

One of Zhu’s published letters accuses authorized asset liquidators Russell Crumpler and Christopher Farmer of “harassment.” Here’s the relevant line from Suh, with which he broke the lingering silence on his part.

Why Zhu presents his cooperation with the liquidators as a positive phenomenon is unknown. Obviously, he had no choice but to hide from the investigation, which is hardly a good thing.

Recall that in a July 8 filing to the U.S. Bankruptcy Court for the Southern District of New York, Russell Crumpler and Christopher Farmer said that 3AC’s co-founders “have not yet begun to interact with the bankruptcy process in any meaningful way.” 

The statement also claimed that the whereabouts of Soo Joo and Kyle Davis were unknown, with the added “heightened risk” that Soo and Davis might try to transfer the firm’s assets to outside accounts.

But a published letter from Advocatus Legal LLP asks liquidators whether court documents mention “threats of physical violence” that 3AC founders and their families have received. Legal counsel for 3AC also noted that their clients “worked under great time pressure” as they also responded to inquiries from the Monetary Authority of Singapore (MAS).

Also, according to Decrypt’s sources, Suh and Davis “will not continue the conversation tonight,” referring to a discussion between 3AC and liquidators scheduled for this week. Next, foundation officials are awaiting a response from the liquidators, based on which the bankruptcy proceedings will proceed.

In the meantime, the fund is busy with a lawsuit that will likely end in its complete liquidation. Three Arrows Capital has serious solvency problems, in part because of the collapse of the Terra project this spring, as well as poor risk management. The failure of 3AC is a serious test for the entire crypto market, as the fund was a significant institutional player on its scale. 

Cryptocurrency

Should Ripple’s XRP Be Part of the US Digital Asset Reserve? Community Debates

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President Donald Trump splashed the crypto waters earlier this week when he signed an executive order focused on digital assets to be potentially included in the US reserves.

Although it’s not officially approved yet, the decision has sparked substantial debates within the community on which cryptocurrencies should be included or whether it should just be bitcoin.

The Debate

Ever since Trump changed his tune on the crypto industry last year and made dozens of optimistic promises during his election campaign, the talk of the town has been whether he will stay true to his word and establish a US BTC reserve.

The first portion of that plan would be for the US government to stop selling the seized BTC from illegal operations. However, Trump went further on Thursday by signing an executive order titled ‘Strengthening American Leadership in Digital Financial Technologies’ to explore the inclusion of various cryptocurrencies into the US reserve.

This sent shockwaves throughout the community, especially those favoring many US-based projects and their underlying assets, such as SOL, XRP, and ADA. Many believe that companies like Ripple are actually working against BTC in this manner by ‘throwing around millions at politicians, desperately trying to derail it.’

Brad Garlinghouse, Ripple’s CEO, refuted the accusations, saying their efforts ‘are actually increasing the likelihood of a crypto strategic reserve (which includes bitcoin) happening.’

No XRP, Please

Messari’s founder, Ryan Selkis, joined the anti-XRP front, indicating that the Ripple incentive is ‘toxic.’ He went further, described the project’s native token as a ‘piece of s**t,’ and said it would be better to have no crypto strategic reserve than to put XRP in it. Selkis concluded that BTC is the only exception and that it makes sense to be the sole crypto rep in that reserve.

In contrast, Cardano’s Charles Hoskinson, who has been collaborating with the Ripple team for a while now, said there’s no need to ‘base XRP’ and claimed that the strategic reserve will start as bitcoin-only.

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Quick Hit: 3 Exciting Expert Bitcoin Price Predictions for 2025

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Bitcoin’s price has been on a spectacular run for the past few months, going from under $70,000 to almost $110,000 to break its previous all-time high and mark a new one, well within six-digit territory.

The micro-scale has also turned positive as the asset recovered its 30-day percentage gain or loss to above 6% at the end of the week. The world’s most prominent cryptocurrency is trading at nearly double its price six months ago.

Furthermore, it can be had or sold for more than 100% of its exchange rate 12 months ago.

BTC Experts Remain Overwhelmingly Bullish

But, most Bitcoin experts surveying the market conditions for blockchain assets today are very bullish on the currency’s prospects for another extended leg up the chart over the coming months in 2025.

Some of the main reasons for the strong forward sentiment:

  • First, there’s Donald Trump’s reelection, a new crypto-friendly SEC chair, and plans in Congress to appropriate US tax dollars to buy and hold Bitcoin in a strategic national reserve.
  • Then there’s Bitcoin’s enormous demand, miner network participation, powerful use cases, limited currency supply, and the bullish phase of its four-year supply cycle.
  • Finally, there’s the rapidly expanding US dollar supply under a low interest rate regime, four years of record-setting US budget deficits ahead, and economic and geopolitical uncertainty.

Here are three recent Bitcoin price predictions from cryptocurrency experts:

2025 Expert Bitcoin Price Predictions

Aquinas Wealth Advisors: $130,000

According to Christopher McMahon, CEO of Aquinas Wealth Advisors and author of “Faithful Finances,” Bitcoin’s price will top $130,000 this year. McMahon’s is the lowest of the three forward targets for BTC in 2025. He argues that institutional adoption of cryptocurrencies will make the numbers go up.

Motley Fool: $200,000

According to a cryptocurrency analyst at the popular investment website Motley Fool, $200,000 BTC is “not only possible but also… fairly probable.” He’s tracking Bitcoin’s steep historical trend line, new investors, especially globally, as well as governments and companies joining the blockchain race.

BlackRock: $700,000

Meanwhile, of all current expert Bitcoin price predictions, BlackRock CEO Larry Fink’s stands out most. The Wall Street executive warns Bitcoin’s price could rocket to $700,000 this year. The rocket fuel? Fink argues his math works out if a number of large hedge funds begin to allocate 2% to 5% of their holdings to BTC.

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Bitcoin (BTC) Stable at $105K, Avalanche (AVAX) Gains 6% Daily (Weekend Watch)

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Bitcoin’s price movements over the weekend have been quite underwhelming, but the asset has remained stable at around $105,000.

The altcoins are with minor gains on a daily scale but the weekend charts show a different picture for many of them.

BTC Holds Steady at $105K

The largest cryptocurrency went through a spectacular ride at the beginning of the business week. It began with a nosedive on Monday morning from $106,000 to under $100,000 before it exploded to a new all-time high of over $109,000. More volatility ensued before, during, and after Donald Trump’s inauguration speech as he failed to mention crypto.

Following a price slump to $101,000, the bulls stepped up and didn’t allow a price slump into five-digit territory. In fact, BTC started to recover some ground and spiked to $107,000 a few days later. It failed there and was pushed south by three grand on Saturday morning but has recovered from that decline and now sits about a grand higher with little to no movement over the past 12 hours.

Its market capitalization has climbed to $2.080 trillion on CoinGecko, while its dominance over the alts stands tall at 55.4%.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

AVAX on the Rise

The largest altcoins have recovered some of the losses charted yesterday. Ethereum has bounced above $3,300 after a 1.3% daily increase, while XRP is above $3.1 following a similar increase. BNB, DOGE, and ADA stand in the same bracket.

Solana and Chainlink have gained around 3% each and now trade at $255 and $25, respectively. Avalanche has emerged as the top performer from the larger-cap alts, surging by 6% to $37.5.

The biggest gainers from the top 100 alts are XCN (91%), OM (30%), TAO (13%), and TRUMP (10%).

The total crypto market cap has recovered over $60 billion overnight and is up to $3.750 trillion on CG.

Cryptocurrency Market Overview. Source: QuantifyCrypto
Cryptocurrency Market Overview. Source: QuantifyCrypto
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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.

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