Luna Crash: Crypto Hedge Fund Three Arrows Seeks a Savior


Who’s subsequent? 

The cryptocurrency crash for a number of weeks continues to assert victims. 

In addition to retail buyers who’ve misplaced their financial savings, institutional buyers are additionally in disarray and extra notably the companies which have funded a lot of crypto initiatives.

This is the case of Three Arrows Capital (3AC), which has simply confirmed the rumors in keeping with which it was in very critical monetary difficulties after its investments in initiatives like Luna become catastrophe.

3AC co-founder Kyle Davies informed the Wall Street Journal that the agency invested over $200 million in Luna tokens in February, an quantity that’s now primarily nugatory after the coin imploded in May.