News

Singapore’s Central Bank reprimands Three Arrows Capital for providing false information

The Monetary Authority of Singapore (MAS) “reprimanded” Three Arrows Capital for providing disinformation to investors and managing assets over the permitted limit.

Going back in history, in 2013, Three Arrows Capital registered hedge fund operations in Singapore with the two co-founders, Zhu Su and Kyle Davies. Accordingly, the regulator only allows the company to manage the maximum amount of assets (AUM) of 250 million SGD.

However, with the latest announcement, Mas said the company violated the AUM threshold between July 2020 and September 2020 and November 2020 and August 2021. They also reprimanded 3AC for not informing managers of changes related to shareholders and company directorship.

3AC moved its headquarters to Dubai at the end of April, just days before the LUNA-UST collapse followed a series of chain effects in the market.

In addition, Mas also said it is assessing whether 3AC is violating any of Singapore’s laws.

3AC is challenging when it has legal troubles with many countries worldwide – as an inevitable consequence of the LUNA-UST collapse. Just yesterday, on June 29, the courts of the British Virgin Islands ordered the liquidation of the company’s assets for insolvency.

Not only that but many exchanges are also linked. Coinbase is sued for “negligent” listing TerraUSD (UST) and Binance.US allegedly misleading investors about Terra.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

KAI

CoinCu News

Victor

Recent Posts

Bitcoin Trader Turned $100M in His 20s—Now Reveals 5 Altcoins to Build a $50M Portfolio, With Memecoins Leading the Way!

As Bitcoin reaches unprecedented heights and the market surges, he's highlighting five altcoins poised for…

31 minutes ago

Which Crypto Will Explode in the 2024-2025 Bull Run?

With the crypto market reaching new peaks, many are eager to discover digital currencies poised…

36 minutes ago

Dogecoin and Shiba Inu Approach $1, but All Eyes Are on XYZVerse’s Push to $10!

XYZVerse, blending sports passion with meme energy, is set to make a significant impact, uniting…

44 minutes ago

Will Bitcoin Crash or Soar Past $105K in 2024?

Will Bitcoin Crash?" seems to be one of the most controversial questions, as the price…

2 hours ago

The Best Crypto for Passive Income? 10% Weekly Gains and 20% Final Surge—Qubetics Mirrors Cosmos’ Early Success!

There’s always that one coin people wish they hadn’t overlooked. For many, Cosmos ($ATOM) is…

2 hours ago

Cosmos Developer Interchain Foundation Sold 3000 ETH Today

Cosmos Developer Interchain Foundation sold 3000 ETH from its ICO today, totaling 21,600 ETH sold…

3 hours ago

This website uses cookies.