@niranjanymcmb

A British Virgin Islands court appointed 3AC liquidators from the consulting firm Teneo, after the hedge fund’s bankruptcy filing. Teneo estimated that 3AC owed its creditors around $3.3 billion. In December last year, the court froze approximately $1.14 billion in assets belonging to the co-founders of the fund. The court prohibited co-founders Su Zhu and Kyle Davies, from transferring or selling the assets. The compensation from Terraform labs to 3AC is still unknown. In June, the blockchain protocol created by Do Kwon – Terraform – announced that it would cease its operations after a settlement with the SEC. Kwon, who was arrested in Montenegro last year, is facing charges in the US and his native land South Korea. Last week, a Montenegro court ruled that Do Kwon should be extradited to South Korea. Various other crypto companies were affected by the Terra contagion, including lenders like Celsius, Vauld and Voyager and exchanges, including the historic FTX.

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