3AC, one of the largest crypto investment firms appears to have solvency issues

I am a crypto diehard and I am rooting for all bad actors to fall apart. No government should or will step in - this is an experiment in watching what the free market will do. If BTC and ETH drop 99% I have no issue with this. Solid firms will continue to exist, and the industry will be better and more hardened for it.

If you want to do hyper risky shit then be prepared for a reckoning. I'll be here with dry powder to scoop up the pieces.

This could be quite big, because it appears they were taking loans from major crypto lenders such as: Nexo, Celsius, BlockFi and others. Their AUM was recently reported to be between $10-20 Billion.

"Rumors floating that 3AC couldn't meet a $5M margin call on a $1B loan. If true, this is devastating." - https://twitter.com/AutismCapital/status/1536918116025761792