A United States court has given liquidators permission to subpoena the founders of crypto investment firm Three Arrows Capital (3AC), including Su Zhu and Kyle Davies. According to a report by Law360 on Tuesday, U.S. Bankruptcy Judge Martin Glenn issued an order on Tuesday allowing the subpoenas after being told by the counsel for the liquidators that the founders’ whereabouts are unknown and there were fears they could be selling off tens of millions in assets. The counsel, Adam Goldberg, said he didn’t know the current location of Zhu or Davies, alleging the duo have not provided “meaningful cooperation” with …

The total crypto market capitalization has fluctuated in a 17% range in the $840 billion to $980 billion zone for the past 28 days. The price movement is relatively tight considering the extreme uncertainties surrounding the recent market sell-off catalysts and the controversy surrounding Three Arrows Capital. From July 4 to 11, Bitcoin (BTC) gained a modest 1.8% while Ether (ETH) price stood flat. More importantly, the total crypto market is down 50% in just three months, which means traders are giving higher odds of the descending triangle formation breaking below its $840 billion support. #Bitcoin Bottom scenario : Since …

Su Zhu, co-founder of Singapore-based crypto venture capital firm Three Arrows Capital (3AC), returned to Twitter after nearly a month of inactivity. In another cryptic tweet, he blamed liquidators for baiting them with respect to StarkWare tokens. The tweet with attached mail from legal counsel claimed that Starkware equity had a token warrant that expired on July 5 and that the liquidator didn’t exercise the warrant, resulting in the loss of Starkware tokens. Zhu blamed liquidators for not using the Starkware tokens and claimed they baited the firm to use information in court. The cryptic tweet from the co-founder comes …

South Korean crypto investment startup platform Uprise reportedly lost around 99% of its assets worth about $20 million when it got liquidated shorting the Luna Classic (LUNC) token. Uprise’s trading desk Heybit uses an artificial intelligence (AI) trading system that was designed to reduce the risks associated with leveraged trading. Local news outlet Seoul Economic Daily reported on Wednesday that Uprise’s AI, which it calls a robo-advisor, made a disastrous misread in May on LUNC as it fell precipitously from $60 to fractions of a cent. The system shorted LUNC but got liquidated during the token’s bizarre price pumps along …