Singapore-based hedge fund Three Arrows Capital is making the crypto market crash to deepen further. The firm is liquidating its holdings to repay the debt to prevent its liquidation.
A wallet allegedly linked to Three Arrows Capital has liquidated more than 15k ETH on Compound in just 1 hour.
Besides this wallet, Three Arrows Capital has been liquidating holdings in its other wallets too as the Ethereum (ETH) prices continues to plummet, putting liquidation pressure on the firm.
Three Arrows Capital on the Verge of Liquidation
After DeFi lending protocol Celsius, Three Arrows Capital now faces insolvency risks as financial conditions continues to deteriorate due to extreme crypto market conditions.
PeckShieldAlert in a series of tweets on June 15 revealed that Three Arrows Capital has liquidated nearly 15k ETH in 5 transactions within just 1 hour. The wallet is close to a $35 million liquidation on Compound, having levered ETH position with a 1.04 health factor.
