3AC, one of the world’s biggest investors, enters liquidation

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3AC, one of the world’s biggest investors, enters liquidation

Singapore-based 3 AC is one of the more prominent investors that have had difficulties with regards to the market for digital currencies, as a result of the sharp sell-off seen in recent months.

Voyager Digital issued a default notice on Monday by 3 AC, saying it didn't make payments on a loan of 15,250 bitcoins, approximately $324 million and $350 million worth ofUSDC, a stable coin.

Teneo, a consulting firm, has been appointed as a liquidator.

In June, the top criptocurrency fell by 37%, trading around $20,000 on Wednesday, compared to its all-time high of $69,000 in November 2021.

The news of 3 AC's liquidation was first reported by broadcaster Sky on Wednesday.

On June 15, 3 AC's co-founder sought to address rumours in a tweet, saying the company was fully committed to working this out without going into more detail.

3 AC did not respond to a request for comment.