Three Arrows Capital (3AC), a Singapore-based crypto hedge fund, has been ordered by a court in the British Virgin Islands to go into liquidation. Apart from this crypto broker Voyager Digital also issued a default notice after 3AC failed to make payments on a loan of 15,250 Bitcoin (BTC) and $350 million USDC, a crypto blockchain stablecoin, reported Reuters.
Sam Bankman-Fried, founder, FTX, a US-based crypto exchange, said in an interview with Forbes that they had given some crypto firms who suffered due to 3AC liquidation a line of credit worth $750 million. But assuming the nature of these events it's highly doubtful he will ever get his money back. “You know, we're willing to do a somewhat bad deal here, if that's what it takes to sort of stabilise things and protect customers,” he added.
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Cryptocurrency Prices
The global crypto market capitalisation went down by 2.15 per cent to $891.61 billion as of 8.30 am. However, the global crypto volume was up by 11.03 per cent to $62.59 billion, as per Coinmarketcap data.
Bitcoin (BTC), the world’s oldest cryptocurrency, was trading at $20,067.08, lower by 1.44 per cent in the last 24 hours. Ethereum (ETH) was down by 4.97 per cent to $1,093.90.
Among other significant coins, Cardano (ADA) was down by 2.47 per cent at $0.4629, Algorand (ALGO) was trading with a loss of 4.66 per cent at $0.3002, Solana (SOL) was trading with a loss of 7.35 per cent at $32.97, Polkadot (DOT) was down by 6.26 per cent at $6.96, and Binance Coin (BNB) was down by 4.2 per cent at $219.38.
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Today’s top gainer was MetaversePay (MVP), which was up by 932.98 per cent at $0.000003196. The top loser was Bitsubishi (BITSU), which was down by 91.67 per cent at $347.77.
Meme Coin And DeFi Prices
Dogecoin (DOGE) was up by 1.63 per cent at $0.06838. Its volume to market cap ratio stands at 0.06694. Rival Shiba Inu (SHIB) was up by 0.67 per cent at $0.00001025.
Dogelon Mars (ELON) lost 3.14 per cent to trade at $0.0000003197, Floki Inu (FLOKI) lost 2.07 per cent at $0.000005589, and Samoyed Coin (SAMO) lost 3.13 per cent at $0.007167.
In the DeFi segment, YFI (yearn.finance) was down by 4.72 per cent at $5,440.99, and Terra Classic (LUNC) was trading with a gain of 27.24 per cent at $0.0001589. Avalanche (AVAX) was down by 6.16 per cent at $17.31, Aave (AAVE) fell by 4.61 per cent at $58.26, and Uniswap (UNI) was trading with a gain of 1.04 per cent at $5.03.
