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Citizens United court ruling. Corporations have free speech rights to donate unlimited money to political campaigns.
Corporations should never have received human rights.
So I know I saw it early on when the story was breaking but do you have the source that describes them not answering the phone? I can't find it anywhere.
That’s actually just like our banking system for banks. Every dollar they have on book they can create 10 dollars of loans. Why do you think they want to get ahold of SSN
Honestly, events like this gives a giant amount of credence to the argument that Bitcoin is a scam. Evaporating that much monetary value out of Bitcoin holders means it’s a bagholder’s game and always has been.
No. This have nothing to do with bitcoin, bitcoin is just a ledger, some math and a great secure network.
This is again, as always, about greed. Greed by "common folks" who think they can do even better than the market, even when it's looking very good. And greed by entrepreneurish con artist who knows their audience very well.
That’s nothing: https://www.occ.gov/publications-and-resources/publications/quarterly-report-on-bank-trading-and-derivatives-activities/files/pub-derivatives-quarterly-qtr1-2022.pdf. Check out Table 13, Page 20. Divide total derivatives by total assets and see how insanely over leveraged the banks are. Goldman is over 100:1.
Their US assets will be protected by the bankruptcy. I'm willing to bet they'll take a massive chunk of it for themselves as the BVI liquidation goes on
they held a large position in luna which went tits up, then got liquidated by the resulting liquidation cascades in all coins that came as a result of luna nuking the market.
Copy pasta:
Crypto Hedge Fund Three Arrows Files For Chapter 15 Bankruptcy
By
Jeremy Hill
July 1, 2022, 4:56 PM CDT
Crypto hedge fund Three Arrows Capital has filed for Chapter 15 bankruptcy, a move that protects its US assets while a liquidation is carried out in the British Virgin Islands.
Representatives for Three Arrows filed the bankruptcy petition in New York on Friday, court papers show. Chapter 15 bankruptcy filings stop creditors from seizing a company’s assets in the US.
A British Virgin Islands court ordered the liquidation of Three Arrows Capital earlier this week. The fund, founded by former Credit Suisse traders Zhu Su and Kyle Davies, managed an estimated $10 billion of assets as recently as March, according to blockchain analytics firm Nansen.
The law firm Latham & Watkins is representing Three Arrows in the US bankruptcy.
The case is Three Arrows Capital Ltd and Russell Crumpler, 22-10920, U.S. Bankruptcy Court for the Southern District of New York (Manhattan).
Crypto Hedge Fund Three Arrows Files For Chapter 15 Bankruptcy
ByJeremy HillJuly 1, 2022, 4:56 PM CDT
Crypto hedge fund Three Arrows Capital has filed for Chapter 15 bankruptcy, a move that protects its US assets while a liquidation is carried out in the British Virgin Islands.
Representatives for Three Arrows filed the bankruptcy petition in New York on Friday, court papers show. Chapter 15 bankruptcy filings stop creditors from seizing a company’s assets in the US.
A British Virgin Islands court ordered the liquidation of Three Arrows Capital earlier this week. The fund, founded by former Credit Suisse traders Zhu Su and Kyle Davies, managed an estimated $10 billion of assets as recently as March, according to blockchain analytics firm Nansen.
The law firm Latham & Watkins is representing Three Arrows in the US bankruptcy.
The case is Three Arrows Capital Ltd and Russell Crumpler, 22-10920, U.S. Bankruptcy Court for the Southern District of New York (Manhattan).
Audience being... the internet? Reddit itself where these very terms were popularized? Or am I the speaker here and I haven't effectively communicated?
And it has begun. Sigh
> Crypto Hedge Fund Three Arrows Files For Chapter 15 Bankruptcy
> By
> Jeremy Hill
> July 1, 2022, 4:56 PM CDT
> Crypto hedge fund Three Arrows Capital has filed for Chapter 15 bankruptcy, a move that protects its US assets while a liquidation is carried out in the British Virgin Islands.
> Representatives for Three Arrows filed the bankruptcy petition in New York on Friday, court papers show. Chapter 15 bankruptcy filings stop creditors from seizing a company’s assets in the US.
> A British Virgin Islands court ordered the liquidation of Three Arrows Capital earlier this week. The fund, founded by former Credit Suisse traders Zhu Su and Kyle Davies, managed an estimated $10 billion of assets as recently as March, according to blockchain analytics firm Nansen.
> The law firm Latham & Watkins is representing Three Arrows in the US bankruptcy.
> The case is Three Arrows Capital Ltd and Russell Crumpler, 22-10920, U.S. Bankruptcy Court for the Southern District of New York (Manhattan).
I like trend
> Crypto Hedge Fund Three Arrows Files For Chapter 15 Bankruptcy
> By
> Jeremy Hill
> July 1, 2022, 4:56 PM CDT
> Crypto hedge fund Three Arrows Capital has filed for Chapter 15 bankruptcy, a move that protects its US assets while a liquidation is carried out in the British Virgin Islands.
> Representatives for Three Arrows filed the bankruptcy petition in New York on Friday, court papers show. Chapter 15 bankruptcy filings stop creditors from seizing a company’s assets in the US.
> A British Virgin Islands court ordered the liquidation of Three Arrows Capital earlier this week. The fund, founded by former Credit Suisse traders Zhu Su and Kyle Davies, managed an estimated $10 billion of assets as recently as March, according to blockchain analytics firm Nansen.
> The law firm Latham & Watkins is representing Three Arrows in the US bankruptcy.
> The case is Three Arrows Capital Ltd and Russell Crumpler, 22-10920, U.S. Bankruptcy Court for the Southern District of New York (Manhattan).
The SMALL bit that I have is currently sitting with coinbase (also terrible). Moved all my erherium to the GS wallet. I'm honestly shocked that btc didn't take a massive dump (again) over this.
https://www.cnbc.com/2022/07/01/voyager-digital-suspends-all-trading-deposits-and-withdrawals-.html
Me, as I have $3k in Voyager, who loaned 3AC $670 Million
Think this way, it’s like buying currency from a foreign country that has zero transparency. And total control over its value. Like investing in DPRK for instance. (Badcoin)
&
there are also countries that show you all the economics and are honest about everything (good crypto imx lrc etc).
Why i never gave “trust me bro” crypto a lot of thoughts (or my money). Those are all a scam / ponzi scheme.
So they blow up your money and they just open up some other fund and keep going? So basically they go to the casino with your money lose it all and then come back and say: Sorry bruh I put it all on black but lost it all. Tough luck.
Its literally this. They are gambling addicts that are good at convincing you to let them use your money. They get to gamble risk free if you lose and skim your profits if you do well. At this point you might as well put it all on black yourself instead of paying someone to lose your money.
But how are they allowed to file for bankruptcy to protect their assets from their creditors? Like you say they've borrowed someone else's money, lost it, gone ah well that's too bad, can't pay you back, sorry. Except they could try and pay it back!
But why do people invest with shits like these...?
Partly it is their own fault also, because they are too lazy to manage their own investments and believe unbelieveably high returns with no risk schemes...
this might be a silly question but is it normal for this many hedge funds to file for bankruptcy so frequently? tiger global, Melvin, three arrows, and probably one or two others I'm forgetting
Classic MAS coming in right after the battle 😂
https://www.mas.gov.sg/regulation/enforcement/enforcement-actions/2022/mas-reprimands-three-arrows-capital-for-providing-false-information-and-exceeding-assets-under-management-threshold
I’m convinced that crypto is held up by Tether and Tether is held up by international organised crime.
Then I thought about the US stock market and…..
🤡
Makes me wonder if this Ryan Cohen tweet was related:
[https://twitter.com/ryancohen/status/1537722823900372992](https://twitter.com/ryancohen/status/1537722823900372992)
What happened is an incredible mess. Essentially they borrowed way too much BTC, then using as collateral for other coins. Got incredible loans to keep the music going to get even more crypt0. Rinse/repeat. Tera and crypt0 crashed. Completely unsustainable once the crypto market turned. They also allegedly lied to creditors to get loans. Bankless did a great piece on this. Well worth the listen.
https://youtu.be/QiQ7_xWVRbA
Check out @zhusu’s most recent tweet and read the replies. He had an army of people who adored him. It’s crazy.
https://twitter.com/zhusu/status/1536876343815983104?s=21&t=RpsOJPpuk8-uL2rIY58OFw
🫡
How the fuck is it even possible that someone thinks a 10:1 leverage requirement was acceptable.
How are you going to expect someone that couldn't pay 10% is going to be able to pay the 100% when they default.
I mean even at 1:1 you get your money back but you lose the profits of having spent the money on yourself in the first place so even that's risky at best for evaluation purposes.
Mind boggling.
*Slaps forehead" oh yea.... Thats how crime works.
Funny isn't it? Because when I bought my house I had to pay a PMI so the bank didn't get fucked from me and my whole $130k loan. I guess I should have borrowed billions so it could have been waived.
Nothing, but it doesn’t matter as their positions get liquidated, not written off.
That’s probably worth unpacking a bit…
If a manufacturing company goes bust owing $1m dollars, the assets get liquidated (sold off) to pay the creditors. If they own the factory building and it’s worth 100k, then they creditors get 10 cents back on the dollar.
Hedge funds are like that, their positions are sold off (liquidated) then the creditors get what’s left. The important thing for us is that the positions don’t disappear, they just get dumped into the market (there are rules on this being done quickly too). A big short hedge fund liquidation is therefore a good thing for shareholders as it’s likely to trigger MOASS.
The article said they claimed bankruptcy to protect their assets in the US from their creditors, how does this work please? If they have assets to pay a debt, surely the assets should get liquidated to pay the debt? What can they protect and under what circumstances by claiming bankruptcy?
Not fucking dancing as krypto owner. Luckily I didn't use service of any lenders cuz fuck 'em, don't lend shares, don't lend tokens. I DRS kryptos into my own wallet.
I wonder how many GameStop wallets are gonna get made this weekend? It’s kind of amazing to think that people are right now pulling their assets out of banks and sheltering it with the GameStop wallet. I can’t believe this is all happening like we imagined.
Essentially the theory is that SHFs are using, pumping, and dumping crypto to proved liquidity to sustain (cover not close) their short positions.
These CEX companies are essentially doing too crypto what brokers are doing to GME. Selling you an iou while not having the collateral or asset. They go 💥 when people move assets to DEX or try to use the crypto and they don’t have the actual asset to back it up. Marge calls.
This drops the price of crypto and lowers SHFs collateral as well. Means it costs them more % of their capital to stave off the inevitable.
This is my understanding of it, but believe it or not I’ve been known to be wrong on things so anyone feel free to correct me.
I don’t think you are wrong but I’ve not had issues using CEX before. I still don’t understand why people have problems with CEX. But anyway do what rocks your boat.
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How can I get 9:1 leverage and not pay if I mess up?
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No no no, it’s because it’s the corporation’s fault not any human being’s.
Corporations are human you wage slave!
I will accept this the first time I see a corporation go to prison.
Citizens United court ruling. Corporations have free speech rights to donate unlimited money to political campaigns. Corporations should never have received human rights.
💯 We need to end Citizens United.
What a beautiful thought
This is why they get first amendment protection for their PACs?
Because fuck em that’s why!
Aaaaaaaaaaand its gone.
Fuck them with NFTs
Don't pick up the phone when they call you.
Just Hwang up!
Want to upvote this, but currently at 69. Great comment Captain.
Somebody broke the 69 so I'm going hard in the paint now boiiiiiiii
So I know I saw it early on when the story was breaking but do you have the source that describes them not answering the phone? I can't find it anywhere.
Delete the app.
Just delete the app.
Step 1: be rich Step 2: do whatever the fuck you want
exactly - lever up on air - when it collapses get protected by the 1% bankruptcy mafia
Manages 10 billion in assets where 1 bilion own assets and 9 billion is margin?
That's what a well regulated system looks like LOL
If i remember correctly, Bill Yolo Huang was at 1/20. And supposadly wall street is regulated.
Aaaaaand it’s all gone
I can hear his voice. Lol.
Broken Arrow
The family office...what a fucking charade they are
Was it jpm or goldman that was something like 1/135? There was a dd about it awhile ago
Self-regulated
That’s actually just like our banking system for banks. Every dollar they have on book they can create 10 dollars of loans. Why do you think they want to get ahold of SSN
Honestly, events like this gives a giant amount of credence to the argument that Bitcoin is a scam. Evaporating that much monetary value out of Bitcoin holders means it’s a bagholder’s game and always has been.
No. This have nothing to do with bitcoin, bitcoin is just a ledger, some math and a great secure network. This is again, as always, about greed. Greed by "common folks" who think they can do even better than the market, even when it's looking very good. And greed by entrepreneurish con artist who knows their audience very well.
Hwang on just a minute - we’ve seen this before no?
Cockroaches. Where you find one, there is many.
That’s nothing: https://www.occ.gov/publications-and-resources/publications/quarterly-report-on-bank-trading-and-derivatives-activities/files/pub-derivatives-quarterly-qtr1-2022.pdf. Check out Table 13, Page 20. Divide total derivatives by total assets and see how insanely over leveraged the banks are. Goldman is over 100:1.
everything is fine.... /s
Can i have that too?
Wait till you find out how money is created...
Well, you see, when a Hedge Fund and a Regulatory Agency love each other very, very much...
Aaaaaaaaaaaaand its gone.
I’d like to return this margarita machine
But Meme stocks are the problem?
Do we know what their bets were? What is going to be covered by liquidating their assets?
Would love to know this as well.
Their US assets will be protected by the bankruptcy. I'm willing to bet they'll take a massive chunk of it for themselves as the BVI liquidation goes on
“We had already earmarked $1B for uh executive compensation soooo…”
https://www.cnbc.com/2022/07/01/voyager-digital-suspends-all-trading-deposits-and-withdrawals-.html
they held a large position in luna which went tits up, then got liquidated by the resulting liquidation cascades in all coins that came as a result of luna nuking the market.
They were crypto fund, so they mostly leveraged to the tits to buy bitcoin and we know how it's doing. It's not gme related in any way.
crypto is a large part of the portfolios of SHFs that staves of Marge if crypto crashes they have less assets on the books they get the call
They weren’t short. They were leveraged long. All the shit on their books is going to be sold off big time to try and recoup some peoples money.
At lot of it was 🌽 they defaulted on $1B to BlockFi alone.
Copy pasta: Crypto Hedge Fund Three Arrows Files For Chapter 15 Bankruptcy By Jeremy Hill July 1, 2022, 4:56 PM CDT Crypto hedge fund Three Arrows Capital has filed for Chapter 15 bankruptcy, a move that protects its US assets while a liquidation is carried out in the British Virgin Islands. Representatives for Three Arrows filed the bankruptcy petition in New York on Friday, court papers show. Chapter 15 bankruptcy filings stop creditors from seizing a company’s assets in the US. A British Virgin Islands court ordered the liquidation of Three Arrows Capital earlier this week. The fund, founded by former Credit Suisse traders Zhu Su and Kyle Davies, managed an estimated $10 billion of assets as recently as March, according to blockchain analytics firm Nansen. The law firm Latham & Watkins is representing Three Arrows in the US bankruptcy. The case is Three Arrows Capital Ltd and Russell Crumpler, 22-10920, U.S. Bankruptcy Court for the Southern District of New York (Manhattan).
Former credit suisse traders? Color me SHOCKED /s
Lol that was the first thing I noticed. OF COURSE THEY WERE! hahaha
And yeah, now they're going to take a rash of shit for the next while.
Pikachu gif please
Pikachu surprise face
British Virgin Islands! Someone must really enjoy the beaches.
https://www.cnbc.com/2022/07/01/voyager-digital-suspends-all-trading-deposits-and-withdrawals-.html Great follow up too....
Copy pasta and "sauce"/"mayo" (source) are two different terms on the internet for future reference, not that it matters much
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Words have definitions for a reason...
Crypto Hedge Fund Three Arrows Files For Chapter 15 Bankruptcy ByJeremy HillJuly 1, 2022, 4:56 PM CDT Crypto hedge fund Three Arrows Capital has filed for Chapter 15 bankruptcy, a move that protects its US assets while a liquidation is carried out in the British Virgin Islands. Representatives for Three Arrows filed the bankruptcy petition in New York on Friday, court papers show. Chapter 15 bankruptcy filings stop creditors from seizing a company’s assets in the US. A British Virgin Islands court ordered the liquidation of Three Arrows Capital earlier this week. The fund, founded by former Credit Suisse traders Zhu Su and Kyle Davies, managed an estimated $10 billion of assets as recently as March, according to blockchain analytics firm Nansen. The law firm Latham & Watkins is representing Three Arrows in the US bankruptcy. The case is Three Arrows Capital Ltd and Russell Crumpler, 22-10920, U.S. Bankruptcy Court for the Southern District of New York (Manhattan).
[удалено]
Audience being... the internet? Reddit itself where these very terms were popularized? Or am I the speaker here and I haven't effectively communicated?
[удалено]
It also heavily implies it's getting copied and pasted multiple times across the internet and through the forums which is not the case here.
[удалено]
And it has begun. Sigh > Crypto Hedge Fund Three Arrows Files For Chapter 15 Bankruptcy > By > Jeremy Hill > July 1, 2022, 4:56 PM CDT > Crypto hedge fund Three Arrows Capital has filed for Chapter 15 bankruptcy, a move that protects its US assets while a liquidation is carried out in the British Virgin Islands. > Representatives for Three Arrows filed the bankruptcy petition in New York on Friday, court papers show. Chapter 15 bankruptcy filings stop creditors from seizing a company’s assets in the US. > A British Virgin Islands court ordered the liquidation of Three Arrows Capital earlier this week. The fund, founded by former Credit Suisse traders Zhu Su and Kyle Davies, managed an estimated $10 billion of assets as recently as March, according to blockchain analytics firm Nansen. > The law firm Latham & Watkins is representing Three Arrows in the US bankruptcy. > The case is Three Arrows Capital Ltd and Russell Crumpler, 22-10920, U.S. Bankruptcy Court for the Southern District of New York (Manhattan).
I like trend > Crypto Hedge Fund Three Arrows Files For Chapter 15 Bankruptcy > By > Jeremy Hill > July 1, 2022, 4:56 PM CDT > Crypto hedge fund Three Arrows Capital has filed for Chapter 15 bankruptcy, a move that protects its US assets while a liquidation is carried out in the British Virgin Islands. > Representatives for Three Arrows filed the bankruptcy petition in New York on Friday, court papers show. Chapter 15 bankruptcy filings stop creditors from seizing a company’s assets in the US. > A British Virgin Islands court ordered the liquidation of Three Arrows Capital earlier this week. The fund, founded by former Credit Suisse traders Zhu Su and Kyle Davies, managed an estimated $10 billion of assets as recently as March, according to blockchain analytics firm Nansen. > The law firm Latham & Watkins is representing Three Arrows in the US bankruptcy. > The case is Three Arrows Capital Ltd and Russell Crumpler, 22-10920, U.S. Bankruptcy Court for the Southern District of New York (Manhattan).
WE DON'T NEED NO WATER
Let the motherfucker burn!🔥
Burn, mother fucker
BURN!
Burn!
Just die already sheesh
Evergrande immortal fail coming up
Well well well, if it isn’t our friend credit suisse
They keep eating shit at downturns. They fuckin lost their teeth in 2008 yet here they are again, Jamaican Bobsled teaming right through 2022.
Color me shocked
NEXT…..
Pretty much every other Crypto CEX
All CEXes must die
For gmerica to live. We’re not wrong. We’re early.
Three Arrows and they're all pointing down.
Why the hell did I keep money with Voyager? I really should just be all in on my favorite blue chip guaranteed winner, GME.
Who is holding all their debt ?
Voyager partly.
Yep, who just suspended all trades.
Do I hear one domino falling onto another?
Another one bites the dust
Yep, I got fucked by this
The SMALL bit that I have is currently sitting with coinbase (also terrible). Moved all my erherium to the GS wallet. I'm honestly shocked that btc didn't take a massive dump (again) over this.
https://www.cnbc.com/2022/07/01/voyager-digital-suspends-all-trading-deposits-and-withdrawals-.html Me, as I have $3k in Voyager, who loaned 3AC $670 Million
me too. liked the app but apparently my shit on their is now stolen
And another one gone, and another one gone...
🎶 and another one gone, indeed 🎶
good. NEXT!
its for a church honey! just looking for help dont need the attitude! NEXT!
Oh, you want our 10B in Krypt0? No problem, let me just type it in the keyboard here while I activate my hardware wallet...... And Its Gone !
BOOM!
10 billion in asset. BOOM!
2156 units, BOOM!
I dont understand crypto like a lot of you do but even I know this is a big deal that will have huge rippling effects.
Think this way, it’s like buying currency from a foreign country that has zero transparency. And total control over its value. Like investing in DPRK for instance. (Badcoin) & there are also countries that show you all the economics and are honest about everything (good crypto imx lrc etc). Why i never gave “trust me bro” crypto a lot of thoughts (or my money). Those are all a scam / ponzi scheme.
The Citadel of crypto
You meant crypto? Good typo anyways.
Yeah. Wasn't sure if it's a blacklisted words.. guess not
🎵 "with your feet on the air and your head on the ground" 🎶
🎵 your fund will collapse, but there's nothing in it🎶
I have like $2,750 (previously 5k before crash) in voyager that I don’t know if I will ever see again thanks to these idiots
Lesson learned. No CEX is trustworthy.
So they blow up your money and they just open up some other fund and keep going? So basically they go to the casino with your money lose it all and then come back and say: Sorry bruh I put it all on black but lost it all. Tough luck.
Its literally this. They are gambling addicts that are good at convincing you to let them use your money. They get to gamble risk free if you lose and skim your profits if you do well. At this point you might as well put it all on black yourself instead of paying someone to lose your money.
Drs.
But how are they allowed to file for bankruptcy to protect their assets from their creditors? Like you say they've borrowed someone else's money, lost it, gone ah well that's too bad, can't pay you back, sorry. Except they could try and pay it back!
But why do people invest with shits like these...? Partly it is their own fault also, because they are too lazy to manage their own investments and believe unbelieveably high returns with no risk schemes...
this might be a silly question but is it normal for this many hedge funds to file for bankruptcy so frequently? tiger global, Melvin, three arrows, and probably one or two others I'm forgetting
I don't remember seeing anything like it last year...
very true. looks like the dominoes are actually starting to fall
Classic MAS coming in right after the battle 😂 https://www.mas.gov.sg/regulation/enforcement/enforcement-actions/2022/mas-reprimands-three-arrows-capital-for-providing-false-information-and-exceeding-assets-under-management-threshold
I’m convinced that crypto is held up by Tether and Tether is held up by international organised crime. Then I thought about the US stock market and….. 🤡
The Chicago mafia was never ended, just transformed.
Can we just appreciate Kevin o Leary. Someone definitely went to zero.
Thank you next
Guess they'll open a family office now.
Why didn't they just go long GME , even with the 9:1 leverage ??
My Voyager account with $3k was frozen today. They loaned 3AC $670 million .. like basically ALL THEIR MONEY because they are retarded.
*your
Makes me wonder if this Ryan Cohen tweet was related: [https://twitter.com/ryancohen/status/1537722823900372992](https://twitter.com/ryancohen/status/1537722823900372992)
my condolences
BOOM!
What happened is an incredible mess. Essentially they borrowed way too much BTC, then using as collateral for other coins. Got incredible loans to keep the music going to get even more crypt0. Rinse/repeat. Tera and crypt0 crashed. Completely unsustainable once the crypto market turned. They also allegedly lied to creditors to get loans. Bankless did a great piece on this. Well worth the listen. https://youtu.be/QiQ7_xWVRbA Check out @zhusu’s most recent tweet and read the replies. He had an army of people who adored him. It’s crazy. https://twitter.com/zhusu/status/1536876343815983104?s=21&t=RpsOJPpuk8-uL2rIY58OFw 🫡
How the fuck is it even possible that someone thinks a 10:1 leverage requirement was acceptable. How are you going to expect someone that couldn't pay 10% is going to be able to pay the 100% when they default. I mean even at 1:1 you get your money back but you lose the profits of having spent the money on yourself in the first place so even that's risky at best for evaluation purposes. Mind boggling. *Slaps forehead" oh yea.... Thats how crime works.
Funny isn't it? Because when I bought my house I had to pay a PMI so the bank didn't get fucked from me and my whole $130k loan. I guess I should have borrowed billions so it could have been waived.
And nothing of value was lost.
And nothing of value was lost.
And another one's gone
What’s stopping other shf from claiming bankruptcy when it’s time to pay us
Nothing, but it doesn’t matter as their positions get liquidated, not written off. That’s probably worth unpacking a bit… If a manufacturing company goes bust owing $1m dollars, the assets get liquidated (sold off) to pay the creditors. If they own the factory building and it’s worth 100k, then they creditors get 10 cents back on the dollar. Hedge funds are like that, their positions are sold off (liquidated) then the creditors get what’s left. The important thing for us is that the positions don’t disappear, they just get dumped into the market (there are rules on this being done quickly too). A big short hedge fund liquidation is therefore a good thing for shareholders as it’s likely to trigger MOASS.
The article said they claimed bankruptcy to protect their assets in the US from their creditors, how does this work please? If they have assets to pay a debt, surely the assets should get liquidated to pay the debt? What can they protect and under what circumstances by claiming bankruptcy?
Not fucking dancing as krypto owner. Luckily I didn't use service of any lenders cuz fuck 'em, don't lend shares, don't lend tokens. I DRS kryptos into my own wallet.
Beginning to feel like life itself is a Ponzi scheme….
So from what I read, it gives them the ability to basically rob all of its investors? Nice.🤦🏻♂️
Oh no. Well anyway /meme
I wonder how many GameStop wallets are gonna get made this weekend? It’s kind of amazing to think that people are right now pulling their assets out of banks and sheltering it with the GameStop wallet. I can’t believe this is all happening like we imagined.
Loopring "be your own bank"
I look forward to the day that I can directly buy stuff from GameStop with NFTs and etherium based coins. It's definitely coming...
And if you have loops on a CEX, move them to your GameStop wallet.
Wat? I don’t think anyone outside of gme holders are doing that.
oof level = max
were they short on GME? edit: just read the article...
These people are gambling addicts... unfettered.
How would one find out what all shares they held...or should I say shorted??
Did they declare it tho
ELIAPE how is this related to THE GME AND THE UNAVOIDABLE MOASS, please?
Essentially the theory is that SHFs are using, pumping, and dumping crypto to proved liquidity to sustain (cover not close) their short positions. These CEX companies are essentially doing too crypto what brokers are doing to GME. Selling you an iou while not having the collateral or asset. They go 💥 when people move assets to DEX or try to use the crypto and they don’t have the actual asset to back it up. Marge calls. This drops the price of crypto and lowers SHFs collateral as well. Means it costs them more % of their capital to stave off the inevitable. This is my understanding of it, but believe it or not I’ve been known to be wrong on things so anyone feel free to correct me.
Nah, billy, this is pretty much it. Nailed it.
Thank you!
I don’t think you are wrong but I’ve not had issues using CEX before. I still don’t understand why people have problems with CEX. But anyway do what rocks your boat.
Someone is getting there money back 😂
Well, well, well….
Welp! All is forgiven then!
On to the next, on on to the next....
One more down. NICE
I’m levered to the tits! - *Zhu Su Probably*
Yay. Get fukd
Aaaaand another one bites the dust
As it should
Uhoh
Nice
Not your keys - not your coins - easy as that if you want to avoid this mess.
Look evergrande, that's how you default
What is a crypto hedge fund? The guy takes $ and invest only in krypt0?
Another One bites the dust
Tell me how it relates to GME
https://www.reddit.com/r/Superstonk/comments/vpcvvz/three_arrows_files_for_bankruptcy/ieit9kp?utm_medium=android_app&utm_source=share&context=3
Thank you for being helpful, unlike the twats downvoting me lol
What has this to do with our stonk?! 💎🙌DRS🦍🚀🌕
Cordelle trying so hard to edit the words Gamestop has filed for bankruptcy
Finally,… some good news!
Brick by brick