Terra

Billion

According to the latest information, Three Arrows liquidators are demanding $1.3 billion for the 2022 Terra (LUNA) collapse. 
Liquidators of the bankrupt cryptocurrency hedge fund Three Arrows Capital are seeking at least $1.3 billion from TerraForm Labs, the defunct digital asset company founded by Do Kwon. 
This demand stems from losses incurred by Three Arrows following the 2022 crash of the TerraUSD and Luna tokens, both associated with TerraForm Labs. 
According to court filings, TerraForm Labs allegedly encouraged Three Arrows to invest in Luna and TerraUSD by manipulating the market for these tokens. This manipulation reportedly “artificially inflated the price of the assets” prior to their eventual collapse, which not only wiped out Three Arrows’ investment in these tokens but also led to significant losses in its other assets. 
Three Arrows Capital, once a prominent name in the cryptocurrency hedge fund arena, collapsed shortly after the collapse of Luna and TerraUSD. Following the collapse, a court in the British Virgin Islands appointed liquidators from advisory and consulting firm Teneo. These liquidators are working to recover funds from Three Arrows founders Su Zhu and Kyle Davies, as well as other entities, and repay the hedge fund’s creditors. 
In a related development, in April a jury found TerraForm Labs and Do Kwon liable for fraud in a U.S. government lawsuit related to the collapse of Luna. 
The potential recovery amount from TerraForm remains unclear. TerraForm filed for Chapter 11 bankruptcy in January and is currently preparing for liquidation after being found liable for fraud earlier this year. 
*This is not investment advice. 
 Continue Reading: <a href="https://en.bitcoinsistemi.com/three-arrows-liquidators-demand-1-3-billion-for-terra-luna-collapse/">Three Arrows Liquidators Demand $1.3 Billion for Terra (LUNA) Collapse</a>

Three Arrows Liquidators Demand $1.3 Billion for Terra (LUNA) Collapse

Bitcoin Sistemi EN

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