What happened to 3AC after the Luna crash?

With the Luna crash, the losses that 3AC had taken had put pressure on the crypto firm. And as the market had failed to recover properly, 3AC would soon find itself being liquidated of its undercollateralized loans by a large undisclosed lender.

How much did 3AC invest in Luna tokens?

Davies said 3AC invested over $200 million in LUNA tokens as part of a $1 billion raise by the Luna Foundation Guard in February, an amount that is now essentially worthless since the Terra ecosystem imploded in mid-May. “The Terra-Luna situation caught us very much off guard,” Davies told the WSJ.

Is Celcius and three arrow capitals (Luna) crash interconnected?

Hence, now it’s clear that Celcius, Three Arrow Capitals, and Terra (LUNA) crash are all interconnected. Just after Terra collapsed, 3AC too followed had a worst on the overall market sentiment. This was followed by huge withdrawals at the Celsius platform that led to the decision of halting all its withdrawals.

What is Luna classic (Lunc)?

Luna Classic or LUNC ( LUNC/USDT – Trade it here ) is the native asset of the Terra Classic blockchain, and was under the name LUNA at first. The collapse of LUNA and UST in May 2022 has led to the hard fork into Terra and the rename of this token: from LUNA to Luna Classic (LUNC).