{"id":64086,"date":"2022-07-07T17:22:50","date_gmt":"2022-07-07T14:22:50","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=64086"},"modified":"2025-09-06T12:24:54","modified_gmt":"2025-09-06T09:24:54","slug":"genesis-trading-confirms-liquidation-of-three-arrows-capital-positions","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/genesis-trading-confirms-liquidation-of-three-arrows-capital-positions\/","title":{"rendered":"Genesis Trading confirms liquidation of Three Arrows Capital positions"},"content":{"rendered":"<p>Genesis Trading CEO Michael Moro acknowledged that in June the cryptocurrency OTC platform liquidated the positions of hedge fund Three Arrows Capital (3AC).<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p lang=\"en\" dir=\"ltr\">2\/ We previously stated in June that we mitigated our losses with respect to a large counterparty who failed to meet a margin call. Now that the BVI bankruptcy process has commenced, we can confirm that the counterparty was Three Arrows Capital.<\/p>\n<p>\u2014 Michael Moro (@michaelmoro) <a href=\"https:\/\/twitter.com\/michaelmoro\/status\/1544733038948622336?ref_src=twsrc%5Etfw\">July 6, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Earlier he<a href=\"https:\/\/forklog.news\/glava-otc-platformy-genesis-trading-zayavil-o-likvidatsii-pozitsii-krupnogo-kontragenta\/\"> \u043d\u0435 \u043d\u0430\u0437\u0432\u0430\u043b \u00ab\u043a\u0440\u0443\u043f\u043d\u043e\u0433\u043e \u043a\u043e\u043d\u0442\u0440\u0430\u0433\u0435\u043d\u0442\u0430\u00bb<\/a>. Now he has decided on this after the initiation<a href=\"https:\/\/forklog.news\/three-arrows-capital-podal-zayavlenie-na-bankrotstvo\/\"> \u043f\u0440\u043e\u0446\u0435\u0434\u0443\u0440\u044b \u0431\u0430\u043d\u043a\u0440\u043e\u0442\u0441\u0442\u0432\u0430 3AC<\/a>.<\/p>\n<p>The executive explained that the platform promptly disposed of the collateral that the hedge fund used to obtain the loan. This occurred after the value fell below the maintenance margin, which averaged more than 80%.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u00abSince then we, with the parent company <span data-descr=\"Digital Currency Group\" class=\"old_tooltip\">DCG<\/span>, have been seeking an optimal strategy for further risk isolation. The company has borne a portion of Genesis&#8217;s losses related to 3AC to ensure sufficient capital to run and grow our business in the long term\u00bb<\/em>, \u2014 \u043f\u043e\u044f\u0441\u043d\u0438\u043b \u043e\u043d.<\/p>\n<\/blockquote>\n<p>As reported, information about the insolvency of <a href=\"https:\/\/forklog.news\/souchreditel-3ac-prerval-molchanie-na-fone-sluhov-o-neplatezhesposobnosti-kompanii\/\">3AC<\/a> appeared amid the crypto market downturn and the Terra crash.<\/p>\n<p>Later, trading firm 8 Blocks Capital accused the hedge fund of <a href=\"https:\/\/forklog.news\/3ac-obvinili-v-ispolzovanii-klientskih-sredstv-dlya-pokrytiya-marzhin-kollov\/\">using client funds to cover margin calls<\/a>.<\/p>\n<p>According to some reports, due to the latter&#8217;s failure to meet the margin requirements for 3AC<a href=\"https:\/\/u1f987.com\/en\/news\/three-arrows-capital-positions-liquidated-on-bitmex-ftx-and-deribit\"> liquidated<\/a> positions, cryptocurrency platforms BitMEX, FTX and Deribit also liquidated.<\/p>\n<p>Read ForkLog&#8217;s Bitcoin news on our <a href=\"\/\/telegram.me\/forklog\u201d\" target=\"\u201c_blank\u201d\" rel=\"\u201cnofollow\u201d noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Genesis Trading CEO Michael Moro acknowledged that in June the cryptocurrency OTC platform liquidated the positions of hedge fund Three Arrows Capital (3AC).<\/p>\n","protected":false},"author":1,"featured_media":64087,"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":[2315,1352],"class_list":["post-64086","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-genesis-trading","tag-three-arrows-capital"],"aioseo_notices":[],"amp_enabled":true,"views":"28","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/64086","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=64086"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/64086\/revisions"}],"predecessor-version":[{"id":64088,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/64086\/revisions\/64088"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/64087"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=64086"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=64086"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=64086"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}