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<h2 id="header-0">The collapse of the Terra ecosystem in May 2022 caused 3AC to lose its position as the world&#39;s largest crypto hedge fund.</h2>The SEC and the CFTC are investigating whether the 3AC management broke the law by deceiving investors about the strength of the company&#39;s financial sheet without registering with the authorities.According to sources familiar with the matter, the authorities&#39; probe might result in extra sanctions for the individuals and businesses involved.Currently, Su Zhu and Kyle Davies, the founders of ‘Three Arrows’, are missing. During its peak, 3AC managed a few billion dollars in assets. However, due to its overexposure to the <a href="https://www.coingabbar.com/en/crypto-blogs-english/why-terra-luna-and-ust-crash" rel="noopener noreferrer nofollow">Terra ecosystem</a>, the fund incurred significant losses following the demise of the TerraUSD stablecoin.As the Terra crash extended throughout the cryptocurrency market, 3AC could not make margin calls from its lenders and was forced to declare bankruptcy. At the order of the Singapore High Court, liquidators took possession of funds worth tens of millions of dollars at 3AC a month ago.However, Teneo, the court-appointed liquidator, indicated that the 3AC founders did not comply with the unwinding procedure. According to court records filed last week, the liquidator requested that the 3AC founders be served with a subpoena.U.S. Regulators&#39; InvestigationIn addition to Three Arrows Capital, US officials are investigating other defunct cryptocurrency businesses such as <a href="https://www.coingabbar.com/en/crypto-currency-news-english/asset-sales-for-bankrupt-cryptocurrency-lender-celsius-are-planned" rel="noopener noreferrer nofollow">Celcius Capital</a>. Celsius&#39;s lawyers said they had received a subpoena from the United States District Court for the Southern District of New York. They have also received inquiries from the US Securities and Exchange Commission, the CFTC, and the Federal Trade Commission.The CFTC is looking whether Celsius neglected to disclose how the customer&#39;s funds were utilized. However, the CFTC and the SEC are not the only regulators investigating 3AC&#39;s activities. The Singapore Monetary Authority also chastised the bankrupt hedge fund for supplying incorrect information and exceeding its AUM limit.Read also: <a href="https://www.coingabbar.com/en/crypto-currency-news-english/cardano-ada-finally-reached-key-support-level-michael-van-de-poppe" rel="noopener noreferrer nofollow">Cardano (ADA) Finally Reached Key Support Level: Michael van de Poppe</a>

US SEC And CFTC Will Investigate Failed Hedge Fund 3AC

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