Wall Street

Crypto: Hedge Fund Debacle May Ruin Two Prominent Lenders

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The Street

By Luc Olinga Voyager Digital just abruptly halted fund withdrawals, while BlockFi struck a deal with a potential savior. Two more. The carnage continues in the crypto industry. Two days after Singapore hedge fund Three Arrows Capital (3AC) was forced into liquidation, two of its lenders are being forced to take drastic decisions to avoid collapsing in turn. BlockFi has signed a bailout deal with FTX US, the U.S. subsidiary of cryptocurrency exchange FTX.com, which is owned by young billionaire Sam Bankman-Fried. The deal, announced on Twitter by BlockFi CEO Zac Prince, includes an option give…

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