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Cryptocurrencies

Crypto crash exposes overleveraged trades, risking deeper losses

Singapore-based Three Arrows becomes latest big victim of sell-off

Bitcoin's value has plummeted by two-thirds from its peak in November.    © Reuters

TOKYO -- As prices of bitcoin and other cryptocurrencies continue to tumble, overextended investors pose the risk of a cascade of forced sales that could drive the tokens even lower. 

In one of the latest developments in the cryptocurrency crash, Singapore-based hedge fund Three Arrows Capital, one of the biggest crypto players, failed to meet margin calls this week. Some of the fund's positions were liquidated, the Financial Times and others report.

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