San Francisco, July 2 (TIWN) Top crypto hedge fund Three Arrows Capital (3AC) has filed for bankruptcy in the US, days after its liquidation began in the British Virgin Islands, the media reported on Saturday.

The liquidation, and now Chapter 15 bankruptcy in New York, comes as popular crypto tokens such as Bitcoin and Ethereum nosedived by nearly 70 per cent from their record highs amid the economic meltdown. 

According to court documents seen by the Financial Times, crypto options and futures exchange "Deribit claimed Three Arrows failed to repay $80 million, as financial woes have plagued the hedge fund".