The fears of crypto industry players have just materialized.

For the first time since the crisis of confidence that plagued the sector following the crash in cryptocurrency prices

The collapse of some tokens -- Luna and UST -- a big domino has fallen.

The inevitable has finally happened.

 The hedge fund Three Arrows Capital (3AC), based in Singapore, has just gone into liquidation, TheStreet learned on June 29

A British Virgin Islands court has ordered the hedge fund liquidated

Appointed two firms to handle the process, these sources told TheStreet on condition of anonymity

One of the liquidators and the firm specializing in restructuring Teneo

A website is expected to be launched soon to accommodate complaints from creditors

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