boom brother it looks like crypto even though it's in a very severe crypto winter is once again under pressure and what I'm referring to is a very large noteworthy crypto fund has officially blown up it's being forced into liquidation so I want to make this quick video explaining everything that's going on just so you're a little bit more aware about the landscape that currently is cryptocurrencies so let's get to it foreign before we get into the craziness that is three arrows Capital AKA 3ac and the liquidation just for posterity's sake just so you know Bitcoin trading just above 20 000 and eth is just above 1100 and here's the big not so bullish news three arrows Capital ordered into liquidation by BVI Court a British Virgin Islands Court reportedly ordered cryptocurrency hedge fund firm three arrows Capital into liquidation earlier this week just so you know they are headquartered in the British Virgin Islands but it is a company from Singapore just in case you were getting a little bit confused there but anyway this isn't good and it's kind of reminiscent of what Kevin O'leary Mr Wonderful was saying a couple weeks ago of he thinks the Bottom's not going to be in until some serious players blow up so we're getting things like this we're getting reports about Celsius we know that coinbase Gemini crypto.com they're all starting to cut some of their employees granted those ones didn't blow up and Celsius is under serious pressure and right now three arrows capital is pretty much kaput here are the main details you need to know crypto hedge fund 3 arrows Capital plunges into liquidation as market crash takes toll major crypto hedge fund three arrows Capital has fallen into liquidation a slump in digital currency prices and on top of that not good risk management which is kind of funny because the CEO of 3ac was previously calling out other firms and people for not having good risk management and I guess karma kicked him in the ass on that one anyway hurt three AC and exposed a liquidity crisis at the company major cryptocurrency hedge fund 30C has fallen into liquidation marking one of the biggest casualties of the latest so-called crypto winter hopefully there's not too many more hopefully there's zero more in reality 3ac which focuses on investments in digital assets like cryptocurrencies around is known for a highly leveraged bets and when there's a crypto winter those leveraged bets are massive massive pain anyway this expose the liquidity crisis at the company on Monday of the last week of June 3C defaulted on a loan from Voyager made up of 350 million in the US dollar Peg Sable coin usdc and over 15 250 Bitcoin worth around 305 million at today's price this has actually gotten into such a situation where Voyager then had to get a loan from Alameda which is associated with FDX and really fdx's Sam Bateman fraud 3C has exposure to the collapse algorithmic Sable coin Tara usdc and sister token lunasome it just was one of those things for 3C when it rained it poured and it was just getting worse and worse and worse anyway blockfi and Genesis liquidated some of 3ac's position and this eventually led to them getting margin called and now they're getting fully liquidated from the court it's a bad situation this is putting more pressure on the crypto sphere and it's causing things to go down and down and down now obviously if this is the final one we might be coming to a bottom pretty soon but if there's more that'll put more pressure on it but even outside of the world of crypto the world of equities the S P 500 the NASDAQ 100 what is the Fed doing or not doing all that stuff is going to have a massive massive impact on the price of not only Bitcoin ethereum but really the whole crypto sphere which is right now valued at 900 billion dollars which not long ago it was over 2 trillion just for a little side note to wrap this all up a lot of people were calling out Michael seller who's the founder and CEO of microstrategy saying hey if Bitcoin goes below 21 000 they were coming up with random numbers that he's going to get margin called but in fact he bought 480 extra Bitcoin this week the final week of June and now he's just a hair below 130 000 Bitcoin in microstrategies ownership which I think is just absolutely crazy and he's continuing to show that he's willing to dollar cost average and absolutely hold that's what I have for you in this video I hope you enjoyed it and I'll catch you in the next one have a beautiful day.