Criptocurrency hedge fund 3AC files for bankruptcy protection

According to a court filing on Friday, the Reuters-Cryptocurrency hedge fund Three Arrows Capital 3 AC is seeking protection from creditors in the U.S. under Chapter 15 of the U.S. Bankruptcy Code, which allows foreign debtors to shield U.S. assets.

Singapore-based 3 AC is one of the highest-profile investors hit by the sharp sell-off in the criptocurrency markets and is being liquidated, according to a person familiar with the matter, according to a person familiar with the matter.

According to court documents, representatives for 3 AC filed a petition in the U.S. Bankruptcy Court for the Southern District of New York on Friday.

On Thursday, Singapore's financial regulator accused the fund of exceeding its assets threshold and providing false information.

Non U.S. companies use Chapter 15 to block creditors who want to file lawsuits or tie up assets in the United States.