Three Arrows defaults on 670 MM

[Pekelo]

https://www.cnbc.com/2022/06/27/three-arrows-capital-crypto-hedge-fund-defaults-on-voyager-loan.html

• Prominent crypto hedge fund Three Arrows Capital has defaulted on a loan worth more than $670 million.
• Digital asset brokerage Voyager Digital issued a notice on Monday morning, stating that the fund failed to repay a loan of $350 million in the U.S. dollar-pegged stablecoin, USDC, and another 15,250 bitcoin, worth about $323 million at today’s prices.

 

[The_Krakenite]

First of all, 670 million is still close to garage-band status for any type of hedge fund. And I still remember when a million bucks actually was something.

The Terra-Luna situation caught us very much off guard,” 3AC co-founder Davies told the Wall Street Journal in an interview earlier this month.

Alright, that right there shows these were a bunch of amateurs. Seriously? How the fuck did something that was fortold and EXPECTED to happen, catch a god damned hedge fund leveraged to the tits off-guard?

Where the FUCK was the risk control? Who was the risk manager?

 

[RedDuke]

First of all, 670 million is still close to garage-band status for any type of hedge fund. And I still remember when a million bucks actually was something.



Alright, that right there shows these were a bunch of amateurs. Seriously? How the fuck did something that was fortold and EXPECTED to happen, catch a god damned hedge fund leveraged to the tits off-guard?

Where the FUCK was the risk control? Who was the risk manager?

I wish I was in such grate band

 

[newwurldmn]

First of all, 670 million is still close to garage-band status for any type of hedge fund. And I still remember when a million bucks actually was something.



Alright, that right there shows these were a bunch of amateurs. Seriously? How the fuck did something that was fortold and EXPECTED to happen, catch a god damned hedge fund leveraged to the tits off-guard?

Where the FUCK was the risk control? Who was the risk manager?

I think for crypto it’s huge.

 

[deaddog]

First of all, 670 million is still close to garage-band status for any type of hedge fund. And I still remember when a million bucks actually was something.

Canaries are not very big either, but when they start dropping you better get the hell out of the coal mine.

 

[maxinger]

and BTC still stays above 20k.
ie the default is not bad enough.

 

[Pekelo]

Where the FUCK was the risk control?

But seriously, are you new here? This is the Crypto sub. What risk control??

 

[Overnight]

...How the fuck did something that was fortold and EXPECTED to happen, catch a god damned hedge fund leveraged to the tits off-guard?

Where the FUCK was the risk control? Who was the risk manager?

It is what happens when a hedge fund stops hedging at the wrong time.

 

[JackMorgan]

The_Krakenite is a parody account . , haven't you figged that out yet ?

 

[JackMorgan]

I suspect 97% of all crypto enterprises are outright frauds, and cons

prove me wrong

biggest scam in human history.