New York judge freezes assets of Three Arrows Capital as crypto firm’s founders remain underground

A federal judge in a New York bankruptcy court has frozen the remaining assets of crypto hedge fund Three Arrows Capital following the firm’s rapid fall from prominence.

The fund, founded nearly a decade ago, managed $10 billion in assets just a few months ago. Now, its two co-founders are in hiding from angry creditors, who are trying to recoup some of their losses. Prior to the bankruptcy filing, a court in the British Virgin Islands ordered the beleaguered fund to liquidate in order to pay back its debts.

Judge Martin Glenn of the Southern District of New York granted the emergency motion on Tuesday to freeze Three Arrows’ assets. CNBC joined a court hearing, which covered next steps in the bankruptcy process.

Source: https://www.cnbc.com/2022/07/12/new-york-judge-freezes-assets-of-three-arrows-capital.html