Singapore-based 3AC is one of the biggest casualties of the latest so-called ‘crypto winter’ to date. The hedge fund is seeking protection from creditors in the United States under Chapter 15 of the U.S. Bankruptcy Code. Singapore’s financial regulator had accused embattled the fund of exceeding its assets threshold and providing false information. 3AC, co-founded by Zhu Su and Kyle Davies, is known for its highly leveraged bets on bitcoin. A slump in digital currency prices has seen billions of dollars wiped off the market in recent weeks, has hurt 3AC and exposed a liquidity crisis at the company—CNBC’s Arjun Kharpal contributed to this article. The company filed a petition in the US. . . .
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