The whole crypto community is currently going through a ‘we are not surprised, but disappointed’ moment as the controversial Three Arrows Capital files for Chapter 15 bankruptcy. According to court documents, Three Arrows representatives filed the bankruptcy filing in New York on Friday.
Chapter 15 bankruptcy filings prevent creditors in the United States from seizing a company’s assets. 3AC is being represented by the legal firm Latham & Watkins.
Three days back, Three Arrows Capital liquidation was ordered in the British Virgin Islands. With the demise of Three Arrows, all attention is on Celsius Network, which is rumored to be preparing for its own bankruptcy file.