According to 3AC’s bankruptcy filing, two co-founders Su Zhu and Kyle Davies are currently unknown and are rumored to have left Singapore.
Less than a week after being ordered into liquidation by a British Virgin Islands court, crypto hedge fund Three Arrows Capital (3AC) filed for Chapter 15 bankruptcy on July 1.
Representatives from law firm Latham & Watkins filed the petition in a New York court, according to court documents.
According to the bankruptcy filing filed by 3AC on July 1, the company managed more than $3 billion in assets as of April 2022, and the representative did not know the locations of founders Su Zhu and Kyle Davies, who were rumored to have left Singapore.
“The foreign representatives understand and believe that while the debtor has had certain operations in Singapore, Mr. Davies and Mr. Zhu’s current location remains unknown. They are rumored to have left Singapore.”
According to another source, they are also said to have completely turned off the camera and noise during a Zoom call with the advisor and displayed a non-cooperative attitude during the following time.
The liquidator also said that they do not know the current location of Zhu Su and Kyle Davies, thus expressing concern that the two founders will disperse the assets of the fund and disadvantage the creditors, especially when Three Arrows Capital’s assets include cash, cryptocurrencies, and NFTs, which are extremely liquid.
There has been much speculation that two Mr. Zhu Su and Kyle Davies are currently in Dubai, based on Zhu Su’s Twitter profile and information that Three Arrows Capital plans to move its headquarters from Singapore to this Middle Eastern city.
Three Arrows Capital co-founders’ locations not being known come amidst rumors that Su Zhu was reportedly looking to sell his $35 million Singapore mansion and have the proceeds sent to a bank in Dubai.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Foxy
CoinCu News
George Town, Grand Cayman, 22nd November 2024, Chainwire
Inflation Warning by Vanguard highlights risks during Trump’s term, citing tariffs and tighter labor markets…
Clanker token trading volume hit $59.8M on Nov 21, accounting for 14.75% of PumpFun. Fee…
Bitcoin Spot ETF inflows hit $1.005B on Nov 21, led by BlackRock’s $608M and Fidelity’s…
Discover the success story of a New York tech entrepreneur who made $72M from a…
Discover the best cryptos to buy and hold today: Qubetics leads with 1000x potential, Ethereum…
This website uses cookies.