The current Celsius, 3AC situation may not be as bad as rumors suggest
One of the more concerning issues around the current insolvency fears for several centralized lenders and investors is the lack of transparency. The news cycle is filled with rumors and theories around Three Arrows Capital (3AC) and Celsius, but very few verifiable facts that we can responsibly report.
Many funds, projects, and lending platforms quickly distance themselves from Celsius and 3AC this week. Some have also come out to confirm liquidations of positions of large third parties. Tether announced they no longer had exposure to Celsius as funds were “liquidated without losses.” The Block also reported that “Crypto exchanges FTX, Deribit, and BitMEX have liquidated Three Arrows Capital’s positions over the past week.”
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