The trading firm TPS Capital increased its distance from the bankrupt crypto fund Three Arrows Capital after Stefan Chu left TPS. Chu left TPS in late July, after which TPS began to move away from Three Arrow Capital (3AC). TPS Capital Parts Ways With 3AC Stefan Chu used to run the over-the-counter (OTC) desk at TPS Capital. He has written regular market research reports since July 2021 under the title ‘State of the Blockchain Weekly Run.’ After a few weeks of his departure from the company, TPS moved farther from 3AC. The hedge fund is now bankrupt as it failed to repay loans from a wide range of crypto organizations. According to a statement on July 7, TPS said, “Independent legal entity and its operations are separate and distinct from those of 3AC.” As TPS clarified, 3AC was briefly a shareholder in the company before ceasing to be in early 2021. TPS also was the intermediary in coordinating loan agreements with the lenders. The co-founders of 3AC, Su Zhu and Kyle Davies carried an “indirect equity interest” in TPS but certainly did not have control over the operations of the trading firm. TPS identifies itself as a proprietary trading firm, providing OTC, trade facilitation, and block trade services to investors interested in cryptocurrency.The post TPS Capital Distances Itself From Three Arrows Capital (3AC) appeared first on Cryptoknowmics-Crypto News and Media Platform.
