In the bear market of encrypted assets in recent months, Celsius and Sanjian Capital, the two major CeFi companies most affected by Terra crash, have experienced liquidity crises one after another. Celsius, the lending platform, has not yet opened the channels for customers to withdraw money, and Sanjian Capital, a hedge fund, is facing bankruptcy liquidation.

Faced with the debt crisis, the two companies showed two completely different approaches. It is understood that on July 1 1, Celsius repaid 60 million DAI to Aave and 35 million Dai to Compound respectively, and this repayment released its $654.38+72 million encrypted asset mortgage locked in DeFi.

Different from Celsius, the two founders of Sanjian Capital were accused by creditors of not cooperating with the liquidation after facing a liquidation order from a court in the British Virgin Islands and applying for bankruptcy protection in the United States, and their whereabouts were unknown.

Three Arrows Capital, also known as 3AC, is one of the most famous cryptocurrency hedge funds in the world. It was founded by Su Zhu and Kyle Davies, two foreign exchange traders on Wall Street, and once managed assets of about $ 10 billion.

It is reported that the two founders of 3AC only attended the early conference call of Zoom. Subsequently, the video and audio of the two were turned off, and their respective legal representatives answered questions on their behalf. Neither of them showed up again, and the lawyer suspected that they might not be present. In addition, the lawyer also found that the Singapore office of Sanjian Capital has been abandoned, and it is reported that Su Zhu is still trying to sell his $35 million Singapore mansion.