Three Arrows owes Polkadot developer Moonbeam Foundation over $27M, court documents show. shauryamalwa reports.
Recent court documents show that beleaguered crypto fund Three Arrows Capital owes blockchain development lab Moonbeam Foundation over $17 million worth of stablecoins and $10 million worth of Moonbeam-issued tokens.
The agreement was made between Moonbeam Foundation and 3AC on Sept. 20, 2021. 3AC borrowed the open term loan at a 12% interest rate. 3AC held over 10 million GLMR tokens and 200,000 MOVR tokens. These have not been returned to Moonbeam as of July 15. These are valued at nearly $10 million at current market rates.
However, 3AC was not liable to “the ultimate performance” and had no specific trading volume targets. The obligations were “limited to making commercially reasonable efforts to advise on methods to increase liquidity” for river and glimmer tokens.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
The Tale of Three Arrows Capital: The Rise & Fall of Crypto's Most Iconic Hedge FundThree Arrows Capital was one of the crypto industry's biggest success stories and its co-founders were highly regarded within the community but its liquidation-related affairs made it one of the biggest cautionary tales. 3AC
Leer más »
Five-member creditor committee formed for Three Arrows Capital's liquidationThree Arrows Capital liquidator Teneo has appointed a five-member committee of 3AC's creditors, sources tell The Block.
Leer más »
Crypto lender Celsius loaned $75 million to Three Arrows CapitalTroubled crypto lender Celsius had $75 million of exposure to Three Arrows Capital. Both companies are now going through bankruptcy proceedings.
Leer más »
Genesis listed as Three Arrows Capital's biggest creditor, lent $2.4 billionDigital Currency Group Inc., the cryptocurrency conglomerate that owns Genesis Global Trading Inc., is the biggest creditor of the beleaguered hedge fund...
Leer más »
Crypto lender Genesis lent $2.36 billion to Three Arrows CapitalDocuments obtained by The Block highlight a $2.36 billion outstanding loan balance owed to crypto lender Genesis by 3AC.
Leer más »
MLB Draft: Three Cal stars, three Stanford standouts, one Saint Mary’s prospect selected on Day 2The Bay Area proved it is one of the hotbeds for top baseball prospects in the early rounds of this year’s MLB Draft.
Leer más »