Three Arrows Capital is back under a changed name

Open Exchange, which trades claims against insolvent cryptocurrency companies, said that it had concluded the last partnership with 3AC Ventures. This attracted the attention of the crypto community.

Why are users interested in the partnership?

The organization "3AC Ventures" uses a similar name and logo as the insolvent company Three Arrows Capital, which was engaged in asset management. At the same time, the organization stated that it focuses on high profitability, takes into account risks and does not apply leverage.

3AC's co-founders are Su Joo and Kyle Davis. They also founded Open Exchange. As a result of high-risk bets with the use of credit assets that were made during the bear market, Three Arrows Capital went bankrupt. Also among the reasons is the collapse of the Terra ecosystem, the amount of which reached $ 40 billion. This happened last year.

After the published statement, Davis made a statement — 3AC is dead, having been reborn in 3AC Ventures. 

It should be noted that in its best days, 3AC managed crypto assets, the size of which was $ 10 billion. at the same time, creditors' claims reached $ 3.4 billion when filing for bankruptcy.

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