The Monetary Authority of Singapore (MAS) has slammed the hedge fund Three Arrows Capital (3AC). on the grounds of providing inaccurate information to officials In a statement thatpublishOn Thursday, MAS said it had breached its funding requirements by having more assets under management than allowed.
When 3AC was registered as a fund management company in Singapore in 2013, it was authorized to manage funds for 30 investors up to $180 million. The fund has informed MAS that it is shifting its management to the British Virgin Islands.
Three Arrows Capital, a hedge fund founded in Singapore in 2012, has seen massive losses during a market downturn in recent weeks, while Bitcoin (BTC) stayed at the top.about $20,000
As reported earlier this month, Three Arrows Capital could go bankrupt after it was forced to sell at least $400 million in collateral, while cryptocurrency lending firm BlockFi said it supplied Bitcoin to 3AC. Unable to pay back due to bear market
Voyager Digital has sent a notice of default to 3AC for failing to pay back the 15,250 Bitcoin and $350 million loan.USDC)
Singapore blames Three Arrows Capital (3AC) for misinformation. and the amount of assets exceeded the allowable amount appeared first on Bitcoin Addict.