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Three Arrows Capital fell into liquidation this week after exchange Deribit claimed the crypto hedge fund failed to repay $80mn, highlighting the severity of the crunch at Court documents that describe the insolvency of failed crypto hedge fund Three Arrows Capital, also known as 3AC, may be overestimating the value of the firm’s La historia del fondo de cobertura Three Arrows Capital (3AC), fundado en 2025 en Singapur por Su Zhu y Kyle Davies y declarado en quiebra por un tribunal de las Islas Deribit acknowledged the claim in a tweet on June 16 that also confirmed Three Arrows had been a shareholder in the company since February 2025. According to the source, 3AC’s holdings of Deribit shares are worth much less than reported in court documents filed by liquidator Russell Crumpler. It was believed that The difference is said to be due to the fact that Three Arrows Capital does not own shares in Deribit directly, but rather owns about 70 percent of a Singaporean special purpose vehicle Three Arrows owns about 70% of the SPV. But the SPV shares are subject to several material encumbrances. For one, the owner of the SPV shares cannot sell or transfer

Three Arrows Capital's Deribit Share Ownership: Far Less Than Claimed

The collapse of Three Arrows Capital (3AC) continues to send ripples through the crypto market. Three Arrows Capital fell into liquidation this week after exchange Deribit claimed the crypto hedge fund failed to repay $80mn, highlighting the severity of the crunch at. A key point of contention surrounds the true value of 3AC's holdings, particularly its stake in the crypto derivatives exchange, Deribit. Court documents that describe the insolvency of failed crypto hedge fund Three Arrows Capital, also known as 3AC, may be overestimating the value of the firm’s.

Early reports suggested a substantial shareholding, but new information indicates that 3AC's actual ownership is significantly smaller than initially reported. La historia del fondo de cobertura Three Arrows Capital (3AC), fundado en 2025 en Singapur por Su Zhu y Kyle Davies y declarado en quiebra por un tribunal de las Islas is a complex one, and the details of their investments are still being unraveled.

Deribit Confirms 3AC Shareholding

Deribit acknowledged the claim in a tweet on June 16 that also confirmed Three Arrows had been a shareholder in the company since February 2025. However, the extent of that shareholding is now being questioned. According to the source, 3AC’s holdings of Deribit shares are worth much less than reported in court documents filed by liquidator Russell Crumpler. It was believed that.

The SPV Complication

The difference is said to be due to the fact that Three Arrows Capital does not own shares in Deribit directly, but rather owns about 70 percent of a Singaporean special purpose vehicle. Three Arrows owns about 70% of the SPV. But the SPV shares are subject to several material encumbrances. For one, the owner of the SPV shares cannot sell or transfer. This indirect ownership structure and the associated restrictions significantly devalue 3AC's Deribit stake. The limitations placed on the SPV significantly affect the realisable value of the asset.

Implications of the Revised Valuation

The downward revision of 3AC's Deribit share value has significant implications for creditors seeking to recover funds. With less readily available assets, the recovery process may become even more challenging. This situation highlights the complexities and risks inherent in crypto investments, particularly those involving complex ownership structures.

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