{"id":81511,"date":"2023-07-10T13:51:09","date_gmt":"2023-07-10T10:51:09","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=81511"},"modified":"2025-09-11T23:20:00","modified_gmt":"2025-09-11T20:20:00","slug":"media-3ac-liquidator-to-press-claims-against-dcg-and-blockfi-for-1-2-billion","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/media-3ac-liquidator-to-press-claims-against-dcg-and-blockfi-for-1-2-billion\/","title":{"rendered":"Media: 3AC liquidator to press claims against DCG and BlockFi for $1.2 billion"},"content":{"rendered":"<p>The liquidation firm Teneo, tasked with winding up Three Arrows Capital (3AC), pointed to the possibility of recovering $1.2 billion in court from Digital Currency Group (DCG) and BlockFi. The report, citing a confidential memo, writes<a href=\"https:\/\/www.coindesk.com\/business\/2023\/07\/07\/three-arrows-capital-liquidator-may-try-to-claw-back-about-12b-from-dcg-blockfi\/\"> CoinDesk<\/a>.<\/p>\n<p>The payments by the crypto hedge fund to the aforementioned entities prior to the restructuring are at issue.<\/p>\n<p>According to the document, \u201cthe alleged claims\u201d include \u201cboth ordinary unsecured claims and claims arising from issues related to modifications of credit documentation and collateral.\u201d<\/p>\n<p>Teneo declined to comment.<\/p>\n<p>DCG and BlockFi had not responded by the time of writing.<\/p>\n<p>In June, 3AC&#8217;s liquidators<a href=\"https:\/\/forklog.com\/en\/news\/3ac-liquidators-seek-1-3-billion-from-founders\">seeking to claw back $1.3 billion<\/a> the hedge fund&#8217;s co-founders Su Zhu and Kyle Davies.<\/p>\n<p>A year earlier, a Virgin Islands court<a href=\"https:\/\/forklog.com\/en\/news\/british-virgin-islands-court-orders-liquidation-of-three-arrows-capital\">ordered the liquidation of Three Arrows Capital<\/a>. A month later, the firm filed in the United States for <a href=\"https:\/\/forklog.com\/en\/news\/three-arrows-capital-seeks-chapter-15-bankruptcy-protection-in-the-united-states\">bankruptcy protection<\/a>.<\/p>\n<p>In December, 3AC&#8217;s liquidators<a href=\"https:\/\/forklog.com\/en\/news\/three-arrows-capital-creditors-file-for-sale-of-30m-yacht\">recovered<\/a> $35.6 million belonging to the crypto hedge fund in Singapore banks, and filed a motion to sell a $30 million superyacht.<\/p>\n<p>That same month, a court<a href=\"https:\/\/forklog.com\/en\/news\/three-arrows-capital-founders-su-zhu-and-kyle-davies-summoned-to-court\">approved subpoenas<\/a> for Zhu and Davies.<\/p>\n<p>In July, Gemini<a href=\"https:\/\/forklog.com\/en\/news\/gemini-sues-dcg-and-barry-silbert\">filed suit against DCG<\/a> and its founder Barry Silbert.<\/p>\n<p>Two months earlier, the holding<a href=\"https:\/\/forklog.com\/en\/news\/dcg-misses-630m-payment-to-gemini-earn\">missed a payment<\/a> of $630 million to the Earn platform. Gemini filed suit, seeking the immediate return of $1.1 billion for 232,000 affected Earn users.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The liquidation firm Teneo, tasked with winding up Three Arrows Capital (3AC), pointed to the possibility of recovering $1.2 billion in court from Digital Currency Group (DCG) and BlockFi.<\/p>\n","protected":false},"author":1,"featured_media":81512,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1436,83,1162,184,1352],"class_list":["post-81511","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-blockfi","tag-business","tag-court-cases","tag-dcg","tag-three-arrows-capital"],"aioseo_notices":[],"amp_enabled":true,"views":"32","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/81511","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=81511"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/81511\/revisions"}],"predecessor-version":[{"id":81513,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/81511\/revisions\/81513"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/81512"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=81511"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=81511"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=81511"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}