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As the cryptocurrency market continues to crash, some reports of a crypto-focused hedge fund going bankrupt have sent shock waves among crypto enthusiasts. On Tuesday, it was reported that Singapore-based Three Arrows Capital (3AC) could have become insolvent and might become the latest victim of the bear market. Three Arrows Capital reportedly sold Lido's stake Ether (stETH) for around US$ 40 million and is most likely the top seller of stETH in the last week. Crypto enthusiasts have been monitoring stETH, which used to trade at par with ETH. However, that began to alter in May, and its de-peg in June has allowed ETH bulls and has kept cryptocurrency's largest holders under stress. Know about 3AC crypto hedge funds insolvency and what's next for it in this video by Kalkine Media.
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