Blockchain.com has also said it is cooperating with ongoing investigations into the hedge fund, which “defrauded the crypto industry.”

Crypto exchanges Blockchain.com and Deribit were among the creditors to have pushed for the liquidation of troubled hedge fund Three Arrows Capital (3AC), Bloomberg reported on Friday.

Blockchain.com has also said it is cooperating with ongoing investigations into the hedge fund, which “defrauded the crypto industry,” the report said, citing a spokesperson.

The liquidation of 3AC was ordered in a British Virgin Islands court earlier this week. New York-based Teneo Restructuring was called in to work with creditors and handle the insolvency.

3AC suffered heavy losses in the recent crash in the crypto markets, with the possibility of insolvency reported in mid-June after the firm incurred at least $400 million in liquidations.

Crypto derivatives exchange Deribit was among those to liquidate 3AC’s capital positions after the hedge fund failed to meet margin calls.

“We believe Three Arrows Capital defrauded the crypto industry and intend to hold them accountable to the fullest extent of the law,” a Blockchain.com spokesperson said in a statement, according to Bloomberg’s report. “We have filed for the immediate liquidation of all global assets of Three Arrows.”

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The exchange is looking at a listing after reaching a valuation of $14 billion last month.
Cryptocurrency exchange Blockchain.com is interviewing banks for an initial public offering (IPO), which could take place as early as this year, Bloomberg reported on Tuesday.
The IPO might not happen till 2023 and its plans could still change, the report said, citing people familiar with the matter.
Blockchain.com is one of the biggest crypto exchanges in the world and reached a valuation of $14 billion in a Series D round last month. The Series D round was led by Lightspeed Venture Partners, with “major participation” from Baillie Gifford.
The exchange has recently closed a few deals. It acquired Altonomy’s over-the-counter (OTC) trading desk and was also picked by the Dallas Cowboys, a prominent team of the National Football League (NFL), as the team’s first crypto-related sponsorship.
Earlier this month, Blockchain.com launched an asset management service aimed at institutional and high net worth investors, in partnership with Altis Partners.
Blockchain.com did not immediately respond to a request for comment.

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The former UBS banker had been with Blockchain.com for the last five years, and headed asset management there for the past 12 months.

Xen Baynham-Herd, global head of asset management at crypto exchange and digital wallet provider Blockchain.com, is leaving the business, CoinDesk has learned.

“The last five years at Blockchain.com have been an incredible journey,” Baynham-Herd said in emailed comments. “Now that it’s time to move on, I leave knowing the company is well on its way to execute its mission of bringing crypto to the world.”

Prior to joining Blockchain.com, Baynham-Herd had been a director at Swiss investment bank UBS in its group asset liability management team, according to his LinkedIn profile. He started his career in finance in London as a summer analyst with Wall Street giant JPMorgan.“

Xen has been a valued member of our leadership team and we wish him the best as he focuses on his growing family and future endeavors,” a Blockchain.com spokesperson said via email.

In December, the company said it was developing a marketplace for non-fungible tokens (NFTs).

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