Crypto hedge fund Three Arrows Capital (3AC) is looking for safety from collectors in america underneath Chapter 15 of the US Chapter Code, which permits overseas debtors to protect US property, in accordance with a court docket submitting on Friday.
Singapore-based 3AC is likely one of the highest-profile traders hit by the sharp sell-off in crypto markets and is being liquidated, Reuters reported on Wednesday, citing an individual conversant in the matter.
Representatives for 3AC filed a petition within the US Chapter Court docket for the Southern District of New York on Friday, in accordance with court docket paperwork.
On Thursday, Singapore’s monetary regulator had accused embattled the fund of exceeding its property threshold and offering false info.
Non US-companies use Chapter 15 to dam collectors who need to file lawsuits or tie up property in america.