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A five-member committee of creditors of bankrupt hedge fund Three Arrows Capital (3AC) has been formed, according to three sources with knowledge of the matter.

The committee is comprised of Genesis/ Digital Currency Group, Voyager, CoinList, Blockchain.com and Matrixport, the sources said. Creditors voted based on their voting power (size of their claim) and the five members were ultimately chosen.

Teneo, the liquidator of 3AC, declined to comment when reached.

Four of the five members are mentioned in the 3AC affidavits obtained and reported by The Block earlier today, except Matrixport. One of the sources said Matrixport has also been added to the creditors’ list. The Block has learned that Teneo will publish updated affidavits.

3AC had grown into one of the crypto industry’s biggest hedge funds before May’s collapse of the Terra ecosystem left it facing significant losses. Last month, a court in the British Virgin Islands appointed financial advisory firm Teneo to handle 3AC’s liquidation and 3AC filed for Chapter 15 bankruptcy in New York a few days later.

As The Block reported earlier today, collapsed 3AC is owed 27 crypto companies $3.5 billion.

The largest creditor on the list is Genesis Asia Pacific Pte Ltd., a unit of the brokerage subsidiary of Digital Currency Group (DCG), which had loaned $2.3 billion to 3AC. Genesis CEO Michael Moro recently said that DCG had taken on some of Genesis’ liabilities.

Also included among creditors are 3AC co-founder Zhu Su, who is seeking $5 million, and 3AC co-founder Kyle Davies’ wife Chen Kelly, who is seeking $65 million.

The Block has reached out to Genesis/ Digital Currency Group, Voyager, Blockchain.com and Matrixport for comment and will update this story should we hear back. CoinList declined to comment.

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