01 AUG, 2022

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Many crypto companies have filed for bankruptcy or been forced to seek emergency capital infusions.

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Cryptocurrencies have been hit hard by fears that rising interest rates will end the era of cheap money,

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With the world's biggest digital asset, bitcoin, down more than 56% from a one-year high.

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Many crypto companies have filed for bankruptcy or been forced to seek emergency capital infusions.

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Singaporean crypto hedge fund Three Arrows Capital (3AC) filed for Chapter 15 bankruptcy on July 1.

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Once a formidable player in the digital asset space, 3AC's downfall appears to stem from the company's bet on the Terra ecosystem.

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The token lost almost all of its value in May, wiping out nearly half a trillion dollars from the crypto market.

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A highly leveraged 3AC faces no margin calls from the counterparties it borrows from.

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As a result, crypto lenders BlockFi and Genesis Trading liquidated their positions in the company.

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01 AUG, 2022

These companies were hit hardest by the cryptocurrency crash

Many crypto companies have filed for bankruptcy or been forced to seek emergency capital infusions.

Cryptocurrencies have been hit hard by fears that rising interest rates will end the era of cheap money,

With the world's biggest digital asset, bitcoin, down more than 56% from a one-year high.

Many crypto companies have filed for bankruptcy or been forced to seek emergency capital infusions.

Singaporean crypto hedge fund Three Arrows Capital (3AC) filed for Chapter 15 bankruptcy on July 1.

Once a formidable player in the digital asset space, 3AC's downfall appears to stem from the company's bet on the Terra ecosystem.

The token lost almost all of its value in May, wiping out nearly half a trillion dollars from the crypto market.

A highly leveraged 3AC faces no margin calls from the counterparties it borrows from.

As a result, crypto lenders BlockFi and Genesis Trading liquidated their positions in the company.