After the thunderstorm of two encryption companies: Celsius repayment guarantee collateral, three arrow capital closed and disappeared

In this round of crypto asset bear market , suffer Terra The two most affected by the crash CeFi company ——Celsius And Sanjian capital successively experienced liquidity crisis . Lending platform Celsius So far, the customer withdrawal channel has not been opened , Hedge fund Sanjian capital faces bankruptcy liquidation .

In the face of the debt crisis , The two companies have shown completely different actions .

Celsius First, repay it in various DeFi Loans in the platform begin , In order to pledge in these DeFi The collateral of the platform will not be liquidated , After the market stabilized, it began to gradually redeem its accumulated encrypted asset collateral of more than hundreds of millions of dollars .

Sanjian capital encountered huge liquidation under the condition of broken capital chain , But still insolvent . However , After facing the liquidation order of a court in British Virgin and applying for bankruptcy protection in the United States , The two founders of Sanjian capital were accused by creditors 「 Do not cooperate with liquidation 」 And the whereabouts are unknown .

Celsius Actively repay the loan To be redeemed 6.5 Billion dollars of collateral

7 month 11 Japan , Encryption asset lending platform Celsius To the DeFi Loan agreement Aave and Compound repayment 6000 ten thousand USDC and 3500 ten thousand DAI, This time, it was repaid from DeFi Borrowed from 9500 Million dollar loan . This strategy releases Celsius lock to DeFi Medium 1.72 Billion dollars of encrypted asset collateral .

Nansen Portfolio The tracker tracked the repayment action , data display , And Celsius Related wallets have been transferred in various transactions 3500 Thousands of dollars in DAI （MakerDAO A stable currency pegged to the dollar ） and 4000 Thousands of dollars in USDC（Circle The introduction of dollar stabilization currency ）. According to Ethereum browser data , The wallet was sent to Aave The agreement paid for 2000 Thousands of dollars in USDC The loan .

according to DeFi Data platform Zapper The data of , After these measures ,Celsius Still owe Aave and Compound 1.2 Billion dollars , Compared with last Friday's 2.35 Billion dollars decreased . at present ,Celsius The value of the collateral locked in these loans is 6.5 Billion dollar , From the highest 9.5 Billion dollars gradually fell . If the company can fully repay the remaining loans , In theory, these collateral can be released .

Celsius The debt in the two agreements is 1.2 Around $100 million

Earlier 7 month 8 Japan ,Celsius Repaid the blockchain's stable currency agreement Maker 2.23 Billion dollar loan , To release 4.5 100 million dollars in collateral .

This year, 6 month , In a liquidity crisis Celsius In the blog post of suspending users' withdrawal, it said , Will be taken 「 Important steps to protect assets , And explore the available options 」. From its current action , This crypto asset lending platform is actively promoting DeFi Agreement repayment , To redeem the encrypted asset collateral pledged in these agreements .

Objectively , The act of actively repaying the loan is conducive to Celsius Clarify its debts , Open withdrawals to customers as soon as possible . This strategy is probably based on Celsius「 Avoid bankruptcy liquidation 」 Based on the position of , For this position , The company also specially changed the lawyer team .

After exposing the liquidity crisis ,Celsius stay 6 Month hired Akin Gump Strauss Hauer & Feld Law firm , Seek advice on possible restructuring . But the media reports , stay Akin Gump Suggest Celsius After the senior management of filed for bankruptcy , Both sides are in a tense situation , because Celsius Hope to explore other options .

thereafter ,Celsius Replace the lawyer team with Kirkland & Ellis. The new law firm seems 「 Easier to accept 」Celsius A plan to avoid filing for bankruptcy , In previous blog posts , The company advocates exploring more diversified asset protection plans , Including using its customer base to seek support .

Creditors accuse the founder of Sanjian capital 「 Do not cooperate with liquidation 」

And Celsius Try to avoid bankruptcy , The other one CeFi Three arrow capital, a hedge fund in the field, went into bankruptcy and liquidation under the condition of insolvency , But creditors accuse , The two founders of the Fund 「 Do not cooperate with liquidation 」, In a state of missing .

Sanjian capital Zhu Su and Kyle Davies On 2012 Founded in 2000 , Since then, it has become one of the most important participants in the encryption asset market . The fund mainly operates in Singapore , On 2021 year 9 Moved to the British Virgin Islands in August . In the past 2 More years , Sanjian capital borrowed a large amount of money from many companies , And invested in several encryption asset projects . This year, , Invested heavily in Sanjian capital Terra After collapse , The fund has a serious liquidity crisis , Encountered a huge amount of liquidation, but also fell into a huge amount of debt .

7 month 1 Japan , Sanjian capital applied for bankruptcy protection to the bankruptcy court of the Southern District of New York through its lawyer , Designed to protect its U.S. assets from confiscation by creditors , At the same time, it requires liquidation in the British Virgin Islands .6 month 27 Japan , A court in the British Virgin Islands once ordered the liquidation of Sanjian capital , Ask to liquidate its funds to repay its debts .

However, in a set of court documents , The lawyer representing the creditor said , When they went to Sanjian capital Singapore office, they found , The office has been abandoned . in addition , The liquidation consultant is in discussions with the two founders Zoom During a conference call , The two people close the camera and voice all the way , Without a word , All questions are answered by lawyers , Show an uncooperative attitude throughout .

The creditor also said , Because I don't know Su Zhu and Kyle Davies Current location , Therefore, I am worried that the two founders will disperse the assets of Sanjian capital , To the detriment of creditors , In particular, these assets are highly liquid cash 、 Encrypt assets and NFT.

Because the founder of Sanjian capital was accused of not cooperating with the liquidation procedure , The New York court has approved the convening of an emergency hearing for Sanjian capital creditors , It is expected to be in local time 7 month 12 It's day . at present , Sanjian capital's NFT fund Starry Night Of NFT Has been transferred to a new wallet , Unknown cause .

On the other hand , Creditors are seeking to freeze the assets of Sanjian capital , Require the court to order the disclosure of all assets held by Sanjian capital .

According to blockchain analysis company Nansen The data of , By 3 month , The assets managed by the fund are estimated to be 100 Billion dollars . However, a person who has negotiated with the management personnel of Sanya capital in recent months said in an interview with the media , They were told that the total value of the fund was 40 Billion dollars .

At present, there is no accurate data on the financial situation of Sanjian capital , cofounder ZhuSu since 6 month 15 Japan Send that 「 We are communicating with relevant parties 」 After tweeting , I never showed up in public again . founder Kyle Davies I was in 6 I explained the company's investment to the media in August Terra 2 The dilemma after billion dollars , But since then, there has been no public information .

After the hedge fund fell into crisis ,Su Zhu It was revealed that he was in a hurry to get rid of his value in Singapore 3500 A million dollar Mansion , And remit the proceeds to a bank in Dubai . Accordingly , Many people speculate that the two founders of Sanjian capital are currently in Dubai . Plus this year 4 month ,Su Zhu Once said to the public that , Sanya capital plans to move its headquarters from Singapore to Dubai , And plans to launch a 50 A billion dollar fund .

but 6 End of month , Dubai Financial Services Authority （DFSA） In response to media inquiries, he said , Sanjian capital is not DFSA Authorized company . In Dubai , People can't find the registration information of the Fund .

Negative attitude towards debtors , Creditors are very anxious . According to the published information , In dollars , The liquidation amount and debt of Sanjian capital are calculated in billions .

Headquartered in the United States BlockFi and Genesis Are two large crypto financial services groups ,6 month 17 Japan , The two groups have expressed their commitment to those who fail to fulfill the obligation of margin calls 「 Big customers 」、「 Large counterparties 」 Liquidation has been carried out , Although there was no roll call , But at the same time, the outside world will be targeted by the liquidator to Sanjian capital .

《 The financial times 》 The insider was quoted as saying , Three arrows capital in 2020 Years of BlockFi the 「 Strategic 」 investment , And quit the following year . The company comes from BlockFi Borrowed bitcoin , But failed to meet the requirements of margin calls . One person familiar with the matter said , Liquidation is carried out with the consent of both parties .

BlockFi Later, it was announced that FTX US Confirm when the transaction is concluded , It lost about 8000 Thousands of dollars .

Besides , Due to failure to meet the requirements of margin call , Three arrows capital in BitMex、FTX and Deribit The funds of three encrypted asset trading platforms have also been liquidated .Deribit And claimed , The hedge fund owes 8000 Thousands of dollars , These include 1300 BTC、15000 ETH and 3710 Negative assets of million dollars .

Sanjian capital still has outstanding loan debt .

Crypto asset lending and trading service providers Voyager Digital Express , Sanjian capital defaulted on a loan , This loan is made by 3.5 A billion dollar stable currency USDC The time value exceeds 3 $ 15250 BTC form .Voyager Digital It is also one of the main creditors of Sanjian capital in the legal process .

Except for debt , Sanjian capital also faces regulatory scrutiny .

before , Monetary authority of Singapore （MAS） The criticism of Sanjian capital is that it exceeds the threshold of asset management 、 Providing false information .MAS Add , It is still under review 「 Whether Sanjian capital has further violated MAS The provisions of the 」.

（ Statement ： Please strictly abide by the local laws and regulations , This article does not represent any investment advice ）

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