Earlier in the week we had reports of trouble at the Singapore based hedge fund:
News media report (may be gated):
- After $400 million in liquidations, a major hedge fund in the space, Singapore-based Three Arrows Capital, or 3AC, is reportedly facing insolvency, and many dominos look likely to fall next.
- 3AC's lenders continue to come forward as the fund, which managed $10 billion in assets in March, according to blockchain analytics firm Nansen, fails to meet margin calls and liquidates its cryptocurrency holdings, adding more downward pressure on the beleaguered market.
BTC update, quivering back near its recent lows (this is an hourly chart):
(Yeah I'm aware of arrows, quiver etc .... its Friday, gotta have a giggle)
