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By Staff Reporters
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Almost $1 billion in assets belonging to the founders of cryptocurrency hedge fund Three Arrows Capital have been frozen by a British Virgin Islands court, according to the firm’s liquidator. The court issued an order preventing co-founders Su Zhu and Kyle Davies, as well as Davies’ wife Kelly Chen, from transferring or selling assets worth up to $1.14 billion, the liquidator Teneo said in an emailed statement, adding that it estimates creditors are owed roughly $3.3 billion.
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Here is where the major benchmarks ended:
Here’s where the major benchmarks ended:
- The S&P 500® index (SPX) was up 48.40 points (1.0%) at 4,746.75; the Dow Jones Industrial Average was up 322.35 points (0.9%) at 37,404.35; the NASDAQ Composite®(COMP) was up 185.92 points (1.3%) at 14,963.87.
- The 10-year Treasury note yield (TNX) was up about 1 basis point at 3.89%.
- The CBOE® Volatility Index (VIX) was down 0.02 at 13.65, after earlier rising to 14.49.
Among market sectors, Micron Technology’s gain helped send the Philadelphia Semiconductor Index (SOX) up 2.8%. Retail and transportation shares were also among the strongest performers.
The Russell 2000® Index (RUT), which is largely small cap focused, rose 1.7% and is on track for a sixth consecutive weekly gain.
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Filed under: Alternative Investments, Experts Invited, Financial Planning, Funding Basics, Glossary Terms, Investing, Touring with Marcinko | Tagged: banks, DJIA, energy, gold, inflation, Marcinko, markets, metals, NASDAQ, oil, real-estate, Russell Index 2000, RUT, S&P 500, SOX, stock markets, teneo, three arrows capital, TNX, utilities | Leave a comment »
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