First Mover Asia: When Crypto Rebuilds After This Cold Winter, Firms Like Three Arrows Capital Won't Have a Place; Bitcoin Sinks Toward $20K

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Crypto hedge fund Three Arrows Capital, which has been among the industry’s biggest investors in new protocols and is a large borrower, is facing $400 million in liquidations on its positions; BTC sinks toward $20K thesamreynods and JPRubin23 report

shows that Three Arrows’ position in the Grayscale Bitcoin Trust – worth $1.2 billion at the time – was split between its Singapore and British Virgin Islands entity.

Of course, if Three Arrows had a cash position that was more reflective of its crypto AUM, there would be less of an issue overall . This article is excerpted from The Node, CoinDesk's daily roundup of the most pivotal stories in blockchain and crypto news. You can subscribe to get the full Making matters worse, a comprehensive approach to tech policy typically occurs only after some crisis forces legislators’ hands and the media is all over them, only increasing the risk that the law is hasty or ill-conceived.

In Web3 and crypto, regulators and innovators alike have at times gotten this backward. For instance, in the midst of the initial coin offering boom; an SEC chair every ICO token he had seen was a security. That suggested, although digital tokens on distributed ledgers are infinitely variable and could represent anything from book club points to stock in a corporation, legal risks in Web3 stem from the technology rather than what lawyers call a substantive activity.

What is the business? What rights are being created between parties? How are those rights communicated from seller to buyer? What risks are associated with the business?

 

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JPRubin23 'When crypto rebuilds...' Most likely it will never rebuild in the form that we knew. If it does it will be something completely different

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BlockFi among firms that liquidated Three Arrows collateral: FTBlockFi was one of the companies that liquidated the collateral on a loan taken out by hedge fund Three Arrows, according to a report. Pomp sends his regards Its always the risk management these days Yeah, let the margin called funds rot. Or is crypto going to bail out stupidity like the 2008 crisis they like to mention as Bitcoin raison d'etre?
Source: TheBlock__ - 🏆 464. / 53 Read more »

Crypto Lender Celsius Hires Restructuring Attorneys, WSJ Reports.CelsiusNetwork has hired a restructuring specialist law firm after the crypto lender on Monday halted withdrawals and its swap and transfer products, according to The Wall Street Journal. realDannyNelson reports. CelsiusNetwork realDannyNelson 'restructuring specialist' CelsiusNetwork realDannyNelson STAGFLATION :The world will soon OccupyGold. It’s coming, the BOJ will raise YCC and gold will move quickly. A + $100-$200 point spike is ahead … (and I’m a first time gold LONG - first time in over 35 years professionally on the Street.) Gold $GLD CelsiusNetwork realDannyNelson Celsius will get liquidated ASAP
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