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Cryptocurrencies

Singapore says Three Arrows Capital provided 'false information'

Rule breaches by crypto hedge fund include managing excess assets

With the crash of crypto prices, 3AC ran into difficulty paying its debts, and has reportedly fallen into liquidation.   © Reuters

SINGAPORE -- Singapore's central bank and financial regulator on Thursday called out troubled crypto hedge fund Three Arrows Capital, also known as 3AC or TAC, for "providing false information," as the firm sinks deeper into crisis amid a cryptocurrency rout.

The Monetary Authority of Singapore charged that 3AC exceeded the assets under management threshold allowed for a registered fund management company in the city-state, but did not reveal by how much it had exceeded the threshold.

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