Criptocurrency 3 AC liquidated

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Criptocurrency 3 AC liquidated

Singapore-based 3 AC is one of the higher profile investors that have had difficulties with regards to the market for digital currencies, which has been seen as a result of the sharp sell-off in the last few months.

Voyager Digital issued a default notice on Monday after it didn't make any payments on a loan of 15,250 bitcoins, about $324 million and $350 million worth ofUSDC, a stable coin.

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

The top criptocurrency has plunged 37 percent in June, trading around $20,000 on Wednesday, compared with 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 tried to address liquidation rumours in a tweet, saying the company was fully committed to working this out without going into more detail.

3 AC did not respond immediately to a request for comment.