{"id":30214,"date":"2022-06-17T11:27:59","date_gmt":"2022-06-17T15:27:59","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=30214"},"modified":"2022-06-17T11:29:26","modified_gmt":"2022-06-17T15:29:26","slug":"avalanche-withdraws-from-three-arrows-capital-amid-liquidation-concerns","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/avalanche-withdraws-from-three-arrows-capital-amid-liquidation-concerns\/","title":{"rendered":"Avalanche Withdraws From Three Arrows Capital Amid Liquidation Concerns"},"content":{"rendered":"\n
The hedge fund Three Arrows Capital liquidation issues<\/a> saw Avalanche pulling away from the firm as it stated on Friday that it has little exposure to it.<\/h5>\n\n\n\n
\"Avalanche<\/figure>\n\n\n\n

Avalanche mentioned in a tweet\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> that Three Arrows never had any influence over Avalanche's treasury funds.<\/p>\n\n\n\n

The comments come as Three Arrows' positions face potential liquidation as the hedge fund failed to fulfill several margin calls by lenders.<\/p>\n\n\n\n

Avalanche AVAX price plummeted amid 3AC Dump fear<\/h3>\n\n\n\n

Last year, Three Arrows Capital, along with Polychain, led a $230 million investment in Avalanche,<\/use><\/svg><\/span><\/a> in which the blockchain issued AVAX tokens to Three Arrows in a private sale.<\/p>\n\n\n\n

The value of AVAX, Avalanche's native token, has dropped this week amid concerns that Three Arrows may sell its stake to cover its positions. The token has lost approximately 32% in the last seven days at $16.41. Its weakness has also been deepened by a general decline in the cryptocurrency market.<\/p>\n\n\n\n

As the market situation worsens, Three Arrows is liquidating its Lido Staked Ethereum (stETH) funds. It liquidated 15k stETH<\/a> in one hour earlier this week and has been lowering its exposure to the token regularly.<\/p>\n\n\n\n

According to the recent update, 3 Arrows Capital has liquidated all of the stETH<\/a> held in the wallet. stETH has dropped 39.76% in the last seven days and is still trading at a significant discount to Ethereum.<\/p>\n\n\n\n

Several Crypto lenders deny exposure to 3AC<\/h3>\n\n\n\n

Avalanche isn't the first to say something like this about Three Arrows Capital. NEXO, a cryptocurrency lender, has also stated that 3AC has no exposure to its digital assets.<\/p>\n\n\n\n

BlockFi had announced earlier on Friday that it had liquidated a “large client” who had failed to satisfy its obligations. While reports said it was likely Three Arrows, BlockFi assured investors that the company was financially solid.<\/p>\n\n\n\n

Three Arrows' liquidity concerns have contributed to the crypto market's recent fall in the past weeks.<\/p>\n","protected":false},"excerpt":{"rendered":"

The hedge fund Three Arrows Capital liquidation issues saw Avalanche pulling away from the firm as it stated on Friday that it has little exposure to it. Avalanche mentioned in a tweet that Three Arrows never had any influence over Avalanche’s treasury funds. The comments come as Three Arrows’ positions face potential liquidation as the […]<\/p>\n","protected":false},"author":32,"featured_media":30217,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[81],"tags":[],"class_list":["post-30214","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoin-news"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/06\/avax-1.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/30214","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=30214"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/30214\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/30217"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=30214"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=30214"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=30214"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}