The Fall Of 3AC Is Related To FTX, Co-founder Revealed

Three Arrows Capital co-founder Kyle Davies in a recent interview with CNBC, admitted that his 3AC had been hunted by FTX, the exchange that used to be under the Sam Bankman-Fried empire.

Davies said in the CNBC interview:

“We are here, we are cooperating. We are some of the biggest creditors ourselves. As their biggest client, we, 3AC, were hunted, and our positions were liquidated. Recent employees of FTX are bragging about hunting and liquidating our position.”

Bankman-Fried was one of his harshest critics when his company failed, he said, noting that it was only recently discovered that he had been hiding a lot of things himself.

“It is also coming out that he hunted our positions. We will find out in time, and we are looking forward to justice,” Davies said.

Referring to FTX’s sister firm Alameda Research, the 3AC co-founder stated from the beginning this company was not recognized by him.

“From the early days, we were their biggest critic. I didn’t even trade on their exchange, for the first year and a half. But as they got bigger and bigger and we saw some of their backers, we assumed that they cleaned up their act, and we were just wrong.”

According to a statement provided to CNBC by Bankman-Fried:

“I’m shocked. 100% disagree … there’s no truth to their allegations here.”  

After months of silence, 3AC, which sought bankruptcy protection in July, has now made the claims. After a run on its FTT token and the discovery that it had lent billions to its sister company Alameda Trading, FTX filed for bankruptcy protection on November 11.

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