, founded the company in 2012 and when the stories of insolvency started both Zhu and Davies became very quiet on social media. Zhu, however, did tweet on June 14, that 3AC was “in the process of communicating with relevant parties and fully committed to working this out.” Allegedly, 3AC has significant exposure to Terra’s LUNC token and it has been
that 3AC’s stash of roughly $200 million in locked luna classic evaporated into less than a thousand dollars.that a British Virgin Islands court had formally liquidated 3AC assets. The report says that the news outlet had learned that “partners from Teneo in the British Virgin Islands has been lined up to handle the insolvency of the Singapore-based firm.
Given this news, it looks like Bitcoin has been holding there pretty well. If it were a few weeks ago, the bitcoin price would have dropped at least 10%. Not bad at all.
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