How the hell did a multi billion dollars fund got wiped out, and why it matters to have a closer look into the 3AC case in relation to the crypto market and markets in general? To answer that, I’ll describe 3AC Rise and Demise, and what were the trades and circumstances that caused both. I’ll then expand on what was happening in between, and in the closing notes what is crucial to understand as we move forward I additionally offer explanations to elements of their case like the Grayscale trus...