Wall Street

Factbox-The crypto crash hit these companies the hardest

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Reuters UK

By Hannah Lang (Reuters) – Cryptocurrencies have been hard hit by fears interest rate hikes will end the era of cheap money, with the world’s largest digital asset, bitcoin, down more than 56% from this year’s high. Several crypto companies have filed for bankruptcy or have been forced to look for emergency capital infusions. THREE ARROWS CAPITAL Singapore-based crypto hedge fund Three Arrows Capital (3AC) filed for Chapter 15 bankruptcy on July 1. Once a formidable player in the digital asset space, the downfall of 3AC appeared to stem from the firm’s bet on the Terra ecosystem, which was beh…

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