A cryptocurrency hedge fund set up by two former investment bankers has collapsed owing more than half a billion dollars.
Three Arrows Capital entered liquidation on Wednesday after a British Virgin Islands court ruled in favour of creditors seeking repayment of debts.
Shortly before its demise, the hedge fund had defaulted on a $674m loan, triggering creditors to seek its liquidation.
The thing about the famed South Sea Bubble company flotation is that everyone at the time knew it was a scam…..
I understand that one of the companies floated during the South Sea Bubble was for an enterprise that was to remain secret.
Evidently people have not changed in the slightest.
that’s what Tim is referring to in the headline,
‘One famous apocryphal story is of a company that went public in 1720 as “a company for carrying out an undertaking of great advantage, but nobody to know what it is”‘
what was the crypto-currency part of this? Apart from dressing up the scam