Court orders liquidation of Three Arrow Capital

A British Virgin Islands Court has ordered the liquidation of Three Arrows Capital (3AC), plunging the crypto hedge fund into a deeper crisis, Sky News reported. According to the report, Teneo Restructuring has been mandated to handle 3AC’s restructuring. Although 3AC has yet to comment on the decision, many believe the ruling is a pivotal moment for the struggling cryptocurrency industry. The financial implications of the liquidation for 3AC creditors are unclear.The ruling comes almost two months after 3AC got its first whiff of trouble with the crash of LUNA and UST tokens.