By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
NFTStudio24 | Latest and Upcoming NFT News, Press Releases, Reviews, and Others.NFTStudio24 | Latest and Upcoming NFT News, Press Releases, Reviews, and Others.
  • HOME
  • NEWS
    • LATEST NFT NEWS
    • BITCOIN NEWS
    • ETHEREUM NEWS
    • BLOCKCHAIN NEWS
    • ALTCOINS NEWS
  • NFT Collection
    • RARITY TOOL BY NFTStudio24
    • UP Coming NFT
    • NFT EXPLORE
  • NFT STORIES
  • PRESS RELEASE
Search
  • About us
  • Advertise with us
  • Contact us
© 2022 NFTStudio24.com News Network. All Rights Reserved.
Reading: FTX, Deribit, and BitMEX liquidate from Three Arrows Capital, Babel and Celsius halt withdrawals
Share
Sign In
0

No products in the cart.

Notification Show More
Latest News
liquidate, Celsius liquidate, Celsius Network, Celsius, Celsius Network halt services, Babel Finance, Babel Finance Network halt services, Three Arrows Capital, crypto, crypto cash
FTX, Deribit, and BitMEX liquidate from Three Arrows Capital, Babel and Celsius halt withdrawals
June 19, 2022
Magic Eden NFT Marketplace, Magic Eden, Magic Eden nft, magic eden launchpad, solana
All You Need To Know About Magic Eden NFT Marketplace
June 19, 2022
world of women, NFT, wow NFT, World of Women NFT, World of Women x The Fabricant collection, Fabricant, The Fabricant, The Fabricant NFT, The Fabricant Studio, digital fashion NFT, Fabricant Studio, Fabricant Studio NFT, Fabricant NFT, The Fabricant collection
World of Women x The Fabricant introduces digital 3D fashion NFT collection
June 18, 2022
Opensea Opensea Nft Gas fees, seaport, seaport opensen, seaport Web 3 marketplace protocol, Web 3 marketplace protocol, seaport
OpenSea’s new protocol offers low gas fee
June 18, 2022
NFT, NFT price chart, NFT price, CryptoPunks NFT, CryptoPunks, CryptoPunks price, CryptoPunks floor price chart, CryptoPunks nft price, mutant ape yacht club, mutant ape yacht club price, mutant ape yacht club price chart, mutant ape yacht club floor price, bored ape yacht club nft, bored ape yacht club nft price, bored ape yacht club nft price chart
Crypto crash pushes down NFT floor prices
June 18, 2022
Aa
NFTStudio24 | Latest and Upcoming NFT News, Press Releases, Reviews, and Others.NFTStudio24 | Latest and Upcoming NFT News, Press Releases, Reviews, and Others.
Aa
Search
  • HOME
  • NEWS
    • LATEST NFT NEWS
    • BITCOIN NEWS
    • ETHEREUM NEWS
    • BLOCKCHAIN NEWS
    • ALTCOINS NEWS
  • NFT Collection
    • RARITY TOOL BY NFTStudio24
    • UP Coming NFT
    • NFT EXPLORE
  • NFT STORIES
  • PRESS RELEASE
Have an existing account? Sign In
Follow US
  • About us
  • Advertise with us
  • Contact us
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
HOME > Crypto and NFT NEWS > FTX, Deribit, and BitMEX liquidate from Three Arrows Capital, Babel and Celsius halt withdrawals
Crypto and NFT NEWS

FTX, Deribit, and BitMEX liquidate from Three Arrows Capital, Babel and Celsius halt withdrawals

news room
news room June 19, 2022 2 Views 6 Min Read
Updated 2022/06/19 at 6:19 AM
Share
6 Min Read
liquidate, Celsius liquidate, Celsius Network, Celsius, Celsius Network halt services, Babel Finance, Babel Finance Network halt services, Three Arrows Capital, crypto, crypto cash
SHARE

FTX, Deribit, and BitMEX announced they liquidated Three Arrows Capital positions this week following the insolvency rumors. In addition, Babel Finance and Celsius Network pause withdrawals and transfers. With so many suspicious movements and unclear statements, no one knows how much damage these crypto hedge funds are seeing.

Contents
Co-founder’s response to rumors increases suspicionCrypto companies liquidate 3ACBabel Finance and Celsius Network halt servicesFinal Words

The DeFi market seems to be tanking following the long crypto winter and the recent crashes. Although everyone knew that every industry will be suffering from these trends, a suspicious tweet by the founder of Three Arrows Capital, a crypto hedge fund, alarmed the investors and traders involved.

Three Arrows Capital is a leading Singapore-based crypto hedge fund that has a history of funding and leading investment projects across various blockchains including Bitcoin, Ethereum, Solana, etc. Now, the company seems to be in trouble managing its funds following the crypto crash.

This week, Bitcoin crashed to around $20K causing a ruckus in the crypto market. Investors initially believed the largest cryptocurrency would rise from its price but ended up declining from its support line.

As a result, the DeFi industry, like many other Web3 industries, suffered from a huge loss. For 3AC, this was bad news. The LUNA/UST historical crash caused the crypto hedge fund a massive loss since it had invested around $200M on LUNA. 

On Monday, the DeFi market experienced a collective sell-off causing various platforms to freeze their projects for the time being. During this time, an on-chain data rumor started to spread around among 3AC investors and lenders about the company might be facing liquidation and insolvency.

Co-founder’s response to rumors increases suspicion

To bury the liquidation and insolvency rumors, the Co-founder of 3AC, Zhu Su came forward and tweeted:

We are in the process of communicating with relevant parties and fully committed to working this out

— Zhu Su 🔺 (@zhusu) June 15, 2022

Zhu Su didn’t give an explanation or the context of the tweet which caused even more speculation. People who were previously unaware of the inside story also began to wonder about the context of the tweet.

Crypto companies liquidate 3AC

Later, on Tuesday, the news came out reported by the Wall Street Journal about Three Arrows Capital considering selling its assets, which might indicate a bailout. The hedge fund reportedly sold its $40M worth of Lido Staked Ethereum (stETH). 

Some sources report that the fund is still keeping a $264 million worth of Aave loan and $35 million worth of Compound loan from going into liquidation.

An article by Financial Times reported that recently, the hedge fund failed to meet margin calls from several lenders. Later, FTX, Deribit, and BitMEX turned out to be the lenders who announced that they liquidated from 3AC positions this week. 

A spokesperson from BitMEX said, “This was collateralized debt and did not involve any client funds. We are not going to be like other brands and wax poetic about our limited exposure and strong capital position — instead, we will demonstrate it by providing our users a reliable and liquid trading venue every day, no matter the situation.”

BlockFi might also be one of the clients who liquidated 3AC. The CEO of BlockFi Zac Prince made a tweet with reference to “a large client” who has yet to meet its financial obligations over an “overcollateralized” loan. This might be a reference to 3AC. 

BlockFi can confirm that we exercised our best business judgment recently with a large client that failed to meet its obligations on an overcollateralized margin loan. We fully accelerated the loan and fully liquidated or hedged all the associated collateral.

— Zac Prince (@BlockFiZac) June 16, 2022

In other words, the tweet made by the 3AC founder must be a reference to the recent liquidations and might also indicate an incoming disaster for the company. The hedge fund has now hired financial and legal advisors to come up with a solution to deal with its investors and lenders.

Celsius Network, Celsius, Celsius Network halt services, Babel Finance, Babel Finance Network halt services, Three Arrows Capital, crypto, crypto cash

Babel Finance and Celsius Network halt services

Other than 3AC, other crypto hedge funds also seem to be suffering from a loss due to the crypto winter. Recently, Babel Finance announced it will pause withdrawals and transfers through its platform due to “unusual liquidity pressures.”

The representative of Babel Finance said, “Babel Finance is taking action to best protect the interests of our clients. We are in close communication with all related parties and will share updates in a timely manner.”

Similarly, Celsius Network, a crypto lending giant company, also halted its withdrawals and transfers on Sunday night. The company released an official announcement stating its “ultimate objective is stabilizing liquidity.” 

.@CelsiusNetwork is pausing all withdrawals, Swap, and transfers between accounts. Acting in the interest of our community is our top priority. Our operations continue and we will continue to share information with the community. More here: https://t.co/CvjORUICs2

— Celsius (@CelsiusNetwork) June 13, 2022

Like 3AC, Celsius was also involved with Terra’s stablecoin and its crash caused a huge loss to its reserves.

Final Words

With the crypto market tanking, the hedge funds and lending companies seem to be in a trance. Many speculate a shutdown as a result of this crash and with the recent liquidity news, it might be true.

Three Arrows Capital was once a darling crypto hedge fund that was involved with almost every big project, seeing it fall must be something no one ever expected. Even crypto giants like Babel Finance and Celcius are suffering.

As of now, no lending company has given a clear statement to its users, which might cause much anxiety among investors and lenders. 

- SUBMIT YOUR PRESS RELEASE -
Ad imageAd image

Don’t miss the Important NFT Drops

Are you tired of missing important NFT drops?

  • Just check out our NFT Collection page! Click here
  • For Upcoming NFTs projects, Click here

You Might Also Like

World of Women x The Fabricant introduces digital 3D fashion NFT collection

OpenSea’s new protocol offers low gas fee

Crypto crash pushes down NFT floor prices

Crypto today: BTC drops below $26k, ETH crashes, market in a trance of decline

Axie Infinity (AXS): the great tokenomics scam

Sign Up For Daily NFT Drops

Don't miss the next NFT drops!!!

By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
news room June 19, 2022
Share this Article
Facebook TwitterEmail Print
Share
What do you think?
Love0
Sad0
Happy0
Sleepy0
Angry0
Dead0
Wink0
Previous Article Magic Eden NFT Marketplace, Magic Eden, Magic Eden nft, magic eden launchpad, solana All You Need To Know About Magic Eden NFT Marketplace
Leave a comment Leave a comment

Leave a Reply

You must be logged in to post a comment.

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News from Cointelegraph

Latest News

liquidate, Celsius liquidate, Celsius Network, Celsius, Celsius Network halt services, Babel Finance, Babel Finance Network halt services, Three Arrows Capital, crypto, crypto cash
FTX, Deribit, and BitMEX liquidate from Three Arrows Capital, Babel and Celsius halt withdrawals
Crypto and NFT NEWS June 19, 2022
Magic Eden NFT Marketplace, Magic Eden, Magic Eden nft, magic eden launchpad, solana
All You Need To Know About Magic Eden NFT Marketplace
NFT STORIES June 19, 2022
world of women, NFT, wow NFT, World of Women NFT, World of Women x The Fabricant collection, Fabricant, The Fabricant, The Fabricant NFT, The Fabricant Studio, digital fashion NFT, Fabricant Studio, Fabricant Studio NFT, Fabricant NFT, The Fabricant collection
World of Women x The Fabricant introduces digital 3D fashion NFT collection
LATEST NFT NEWS June 18, 2022
- Career -
Ad imageAd image

You Might also Like

world of women, NFT, wow NFT, World of Women NFT, World of Women x The Fabricant collection, Fabricant, The Fabricant, The Fabricant NFT, The Fabricant Studio, digital fashion NFT, Fabricant Studio, Fabricant Studio NFT, Fabricant NFT, The Fabricant collection
LATEST NFT NEWS

World of Women x The Fabricant introduces digital 3D fashion NFT collection

June 18, 2022
Opensea Opensea Nft Gas fees, seaport, seaport opensen, seaport Web 3 marketplace protocol, Web 3 marketplace protocol, seaport
LATEST NFT NEWS

OpenSea’s new protocol offers low gas fee

June 18, 2022
NFT, NFT price chart, NFT price, CryptoPunks NFT, CryptoPunks, CryptoPunks price, CryptoPunks floor price chart, CryptoPunks nft price, mutant ape yacht club, mutant ape yacht club price, mutant ape yacht club price chart, mutant ape yacht club floor price, bored ape yacht club nft, bored ape yacht club nft price, bored ape yacht club nft price chart
LATEST NFT NEWS

Crypto crash pushes down NFT floor prices

June 18, 2022
Bitcoin price crashed, bitcoin weekly update, Bitcoin Price, Bitcoin, Bitcoin Price today, BTC Price today, BTC Price, BTC, BTC chart
BITCOIN NEWSCrypto and NFT NEWS

Crypto today: BTC drops below $26k, ETH crashes, market in a trance of decline

June 14, 2022
//

NFTStudio24 delivers the latest NFT news to its global audience. We are committed to reporting mainstream and emerging talent via exclusive press releases, podcast interviews, NFT rankings, and much more.

Recent Posts

  • FTX, Deribit, and BitMEX liquidate from Three Arrows Capital, Babel and Celsius halt withdrawals
  • All You Need To Know About Magic Eden NFT Marketplace
  • World of Women x The Fabricant introduces digital 3D fashion NFT collection
  • OpenSea’s new protocol offers low gas fee
  • Crypto crash pushes down NFT floor prices

Experts Alliance

  • Experts Alliance
  • About Alliance
  • Alliance Benefits
  • Membership requirements
  • Apply Alliance

Quick Link

  • ABOUT US
  • CAREER
  • CONTACT US
//

Subscribe to our newsletter to get our newest articles instantly!

NFTStudio24 | Latest and Upcoming NFT News, Press Releases, Reviews, and Others.NFTStudio24 | Latest and Upcoming NFT News, Press Releases, Reviews, and Others.
Follow US

© 2022 NFTStudio24.com News Network. All Rights Reserved.

  • bitcoinBitcoin(BTC)$17,986.10-12.91%
  • ethereumEthereum(ETH)$906.15-17.22%
  • tetherTether(USDT)$1.000.12%
  • usd-coinUSD Coin(USDC)$1.000.47%
  • binancecoinBNB(BNB)$189.22-12.58%
  • Binance USDBinance USD(BUSD)$1.000.22%
  • cardanoCardano(ADA)$0.440461-10.37%
  • rippleXRP(XRP)$0.300124-6.60%
  • SolanaSolana(SOL)$28.21-10.67%
  • polkadotPolkadot(DOT)$6.81-7.68%
  • dogecoinDogecoin(DOGE)$0.050713-11.92%
  • daiDai(DAI)$1.000.35%
  • tronTRON(TRX)$0.0606060.46%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$17,968.76-12.81%
  • leo-tokenLEO Token(LEO)$5.050.13%
  • Shiba InuShiba Inu(SHIB)$0.000007-10.28%
  • AvalancheAvalanche(AVAX)$14.03-13.41%
  • Lido Staked EtherLido Staked Ether(STETH)$845.31-17.89%
  • litecoinLitecoin(LTC)$42.87-9.36%
  • FTXFTX(FTT)$21.50-12.12%
  • chainlinkChainlink(LINK)$5.62-12.34%
  • stellarStellar(XLM)$0.102659-8.92%
  • CronosCronos(CRO)$0.100915-12.93%
  • OKBOKB(OKB)$9.84-12.17%
  • matic-networkPolygon(MATIC)$0.329185-18.18%
  • bitcoin-cashBitcoin Cash(BCH)$113.94-4.62%
  • NEAR ProtocolNEAR Protocol(NEAR)$2.97-11.17%
  • algorandAlgorand(ALGO)$0.282506-9.95%
  • Theta FuelTheta Fuel(TFUEL)$0.0500356.46%
  • moneroMonero(XMR)$99.76-12.39%
  • ethereum-classicEthereum Classic(ETC)$13.04-9.75%
  • cosmosCosmos Hub(ATOM)$5.81-10.07%
  • ChainChain(XCN)$0.078510-8.25%
  • UniswapUniswap(UNI)$3.43-12.95%
  • vechainVeChain(VET)$0.020737-11.35%
  • FraxFrax(FRAX)$1.000.01%
  • FlowFlow(FLOW)$1.26-12.61%
  • HederaHedera(HBAR)$0.059755-12.05%
  • true-usdTrueUSD(TUSD)$1.000.02%
  • Axie InfinityAxie Infinity(AXS)$12.30-12.42%
  • Internet ComputerInternet Computer(ICP)$4.86-11.60%
  • decentralandDecentraland(MANA)$0.75-11.87%
  • theta-tokenTheta Network(THETA)$1.10-9.80%
  • tezosTezos(XTZ)$1.22-12.78%
  • filecoinFilecoin(FIL)$4.88-8.84%
  • bitcoin-cash-svBitcoin SV(BSV)$53.82-1.58%
  • HeliumHelium(HNT)$9.44-16.68%
  • ElrondElrond(EGLD)$44.39-15.23%
  • ApeCoinApeCoin(APE)$3.21-12.23%
  • The SandboxThe Sandbox(SAND)$0.76-12.28%
Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?