three arrows capital

Kyle Davies Says He Is Unapologetic About the Collapse of Three Arrows Capital (3AC)

Kyle Davies, the co-founder of the defunct cryptocurrency hedge fund Three Arrows Capital (3AC), says he is not sorry that his company collapsed in 2022 and lost billions of investors’ funds in the process. Davies expressed his lack of remorse during an interview with Laura Shin on a March 19 episode of the Unchained Podcast,...
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3AC’s Investment in Worldcoin Seems to Pay Off for Creditors

An early investment in Worldcoin by the defunct crypto hedge fund Three Arrows Capital, otherwise known as 3AC, may prove profitable for creditors as the former’s token WLD recently reached a new all-time high (ATH), soaring nearly 200% in the last seven days. 3AC’s crypto portfolio currently holds 75 million WLD coins, making the company...
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BlockFi and 3AC Resolve Counterclaims in Bankruptcy Settlement, but There’s a Catch

A settlement between defunct crypto lending company BlockFi and the collapsed hedge fund Three Arrows Capital (3AC) was approved by a US bankruptcy court on February 7. The specific terms of the settlement, though, remain confidential. According to the official document, the approval effectively resolved any counterclaims between the parties. Judge Kaplan of the New...
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3AC Founders’ OPNX Exchange to Shut Down, FLEX and OX Prices Tank

The Open Exchange, or OPNX, is closing down this month, according to an email sent to users. “We would like to inform you that OPNX.com will officially cease operations and shut down in February 2024.” Customers were advised to settle their positions by Feb. 7 and withdraw their money by Feb. 14. OPNX shutting down...
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3AC Co-Founder Su Zhu Says His Time in Prison Was Quite Enjoyable

After Three Arrows Capital collapsed during crypto winter, founders Su Zhu and Kyle Davies stuck around on Twitter, making excuses for themselves before going silent for months and resurfacing with a new crypto project – the exchange OPNX. Later on, the pair also launched “3AC Ventures,” a new hedge fund, although public information is limited....
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Three Arrows Capital Founders Face $1 Billion Asset Freeze

A British Virgin Islands (BVI) court has issued a freezing order on approximately $1 billion in assets belonging to the founders of Three Arrows Capital (3AC), a once-renowned cryptocurrency hedge fund. The court’s decision aims to prevent co-founders Su Zhu and Kyle Davies, along with the latter’s wife Kelly Chen, from transferring or disposing of...
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3AC Co-Founder Zhu Set to Be Released Following Questioning in Singapore

Su Zhu, the co-founder of Three Arrows Capital, is expected to be released this month based on standard provisions for good behavior. The development follows a two-day court hearing in Singapore where Zhu faced questioning for the first time. During the hearing, Zhu had to respond to lawyers representing the liquidator, providing insights into how...
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This Crypto Exchange Plans to Repurchase its Shares From Bankrupt 3AC

Cryptocurrency trading platform WOO Network revealed intentions to buy back its shares from the bankrupt crypto hedge fund Three Arrows Capital (3AC) to clear the uncertainty that has clouded its business due to the company’s collapse. According to an official announcement, WOO has agreed with 3AC liquidator Teneo to repurchase the shares and tokens at...
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3AC Co-Founder Zhu Su Reportedly Apprehended in Singapore

Zhu Su, the infamous co-founder of the now-defunct crypto hedge fund Three Arrows Capital, has been reportedly apprehended in Singapore. This comes amid the amassing issues against his former hedge fund and his newly launched crypto exchange – OPNX. Citing an email update seen by The Business Times (Singapore), the report indicated that Su was...
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Singapore Bans 3AC Founders From Financial Management for 9 Years

Following the collapse of Three Arrows Capital, co-founders Zhu Su and Kyle Davies dropped off the map. Since then, they’ve occasionally resurfaced on X to make oblivious and out-of-place posts excusing them of any wrongdoing and to announce the launch of their new business ventures, namely the exchange platform OPNX and a new hedge fund...
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Dubai Authorities Fined OPNX $2.7 Million for a Market Offense

Dubai’s Virtual Asset Regulatory Authority (VARA) fined OPNX — the cryptocurrency project created by founders of the defunct digital asset hedge fund Three Arrows Capital (3AC) — along with the project’s founders and CEO, shortly after issuing a reprimand in May. While the executives have paid their fine, VARA said OPNX is yet to make...
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BlockFi’s Disclosure Statement Receives Conditional Approval By US Bankruptcy Court

Bankrupt crypto lender, BlockFi revealed that the US Bankruptcy Court for the District of New Jersey has conditionally approved its disclosure statement. The development essentially demonstrated that the reorganization process of BlockFi continues to make gradual progress eight months after filing the voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code....
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BlockFi’s Bankruptcy Plans Faces Stiff Opposition From FTX

There’s no respite for BlockFi as the bankrupt crypto lender struggles to pay its creditors and customers. BlockFi has brought forward several proposals since sliding into bankruptcy last year owing to the market turmoil. However, FTX’s latest legal filing poses a hurdle for the now-defunct company as it accuses BlockFi of abusing the planning process....
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3AC Founders Launch Brand New VC Fund Tied To OPNX

Following the collapse of 3 Arrows Capital, founders Su Zhu and Kyle Davies bid their time for a short while before announcing a new crypto platform, OPNX. Despite initially having almost no trading volume whatsoever, it seems that some have decided to entrust their funds to a company whose founders had already run their first...
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Voyager to Enable Customer Withdrawals This Month

In a respite to Voyager Digital customers, the cryptocurrency brokerage is reportedly gearing up to reopen its app, which will enable the withdrawal of their funds. The development comes almost a year after it filed for Chapter 11 bankruptcy. According to a court filing on June 14th, Voyager’s bankruptcy plan administrator, Paul Hage, stated that...
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Court Restrains Arthur Hayes from Abusing 3AC Founder Su Zhu: Report

Su Zhu, the co-founder of the now-defunct cryptocurrency hedge fund Three Arrows Capital (3AC), has obtained a restraining order from a Singaporean court against Arthur Hayes, the co-founder and former CEO of crypto exchange BitMEX. According to a court document seen by CoinDesk, the restraining order prohibits Hayes from using any insulting or abusive communication...
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Dubai Regulator Reprimands OPNX Founders for Conducting Unregulated Activity

OPNX – the project created by the defunct hedge fund Three Arrows Capital (3AC) founders – has been controversial from the very start. The exchange has now been reprimanded for conducting unregulated activity. Dubai’s Virtual Assets Regulatory Authority (VARA) has issued a written reprimand to five OPNX founders, including Kyle Davies and Su Zhu, for...
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Arthur Hayes: Zhu Su ann Kyle Davies-led OPNX Received Funding From Bahrain

The launch of the exchange project, OPNX, earlier this week managed to attract significant backlash from the community. A new development has emerged regarding the funds received for the development of OPNX, which is backed by the founders of the bankrupt hedge fund Three Arrows Capital (3AC). BitMEX’s Arthur Hayes cited an anonymous source and...
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OPNX Crypto Exchange Formed by 3AC Founders Goes Live

Open exchange, or “OPNX,” the crypto exchange created by Su Zhu and Kyle Davies, the founders of the bankrupt cryptocurrency hedge fund Three Arrows Capital, launched on Tuesday, April 4. The platform’s launch will include a distribution of its native token called FLEX. OPNX CEO said users can trade spot and futures in a statement...
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3AC Founders’ Open Exchange Completes Its $25 Million Fundraise

The highly controversial “Open Exchange” (OPNX) headed by once-failed Crypto CEOs has reached its fundraising goal of $25 million – though the founders are yet to reveal their benefactors. Meanwhile, collapsed crypto exchange CoinFLEX has revealed that its restructuring deal has been approved by a Seychelles court, briefly pumping the price of its token.  OPNX’s...
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Highly Criticized ‘GTX’ Startup Officially Announced as ‘Open Exchange’

Disgraced crypto VC Zhu Su has officially announced his next project: “Open Exchange” – a crypto marketplace for claims and derivatives trading.  The company is intended to help investors who lost money in 2022’s wave of industry bankruptcies – though crypto Twitter isn’t exactly enthusiastic about the idea. Rebuilding Crypto Per a Twitter thread from...
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CoinFLEX Attempts to Clarify GTX Story After Being Met With Derision

According to CoinFLEX leadership, “there has been media speculation” on the subject of the new exchange they are building, tentatively named GTX. As previously reported by CryptoPotato, the tentative exchange would specialize in crypto bankruptcy cases. Management Team Staying Onboard After lambasting the “speculation” on the subject of the leaked GTX pitch decks – speculation...
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3AC Co-Founder Zhu Su Accuses DCG of Being Criminally Fraudulent

Three Arrows Capital (3AC), a Singapore-based crypto hedge fund, became one of the many industry participants that went bankrupt in the bear market. At its peak, 3AC managed more than $10 billion worth of assets. Its undoing was disastrous but wasn’t purely a market-driven phenomenon. In the latest Twitter thread, Zhu Su said the parent...
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FTX Drama Goes On: SBF and Zhu Su Trade Blows Over Alleged Media Control

Zhu Su – one of the co-founders of the collapsed cryptocurrency hedge fund Three Arrows Capital – is firing shots at Sam Bankman-Fried over alleged media influence, control, and deflection of hard questions. SBF admitted he made a lot of mistakes this year but categorically denied any of the above. Zhu Su took it to...
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3AC Co-Founders Su Zhu, Kyle Davies Subpoenaed in Bankruptcy Case

A federal bankruptcy judge has approved the issuance of subpoenas to the co-founders of the collapsed hedge fund – Three Arrows Capital (3AC) – Su Zhu and Kyle Davies. In a document published on Tuesday, United States Bankruptcy Judge Martin Glenn for the Southern District of New York stated, “The foreign representatives and their agents...
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US Regulators Step Up Scrutiny of the Crypto Industry. 3AC, FTX Under Investigation

Bloomberg reported that the CFTC and SEC are investigating Three Arrows Capital. The US regulators want to understand whether the Singapore-based cryptocurrency hedge fund violated some rules and laws that hedge funds must comply with. Sources interviewed by Bloomberg hinted that U.S. regulators seem to think 3AC could have been misleading clients about the strength...
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TrueFi Issues First Default to Crypto Investment Firm Blockwater on BUSD Loan

Decentralized finance (DeFi) lending protocol TrueFi issued a “notice of default” to Blockwater Technologies on October 6th for failing to make a scheduled payment of more than $3.4 million loan in BUSD. The crypto market rout in Q2 and the resultant ongoing stress have unraveled several digital-asset lenders and exchanges. The liquidity crisis spurred the...
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A Month After the CEO, Another Genesis Executive Steps Down

Following the exit of Michael Moro as the CEO of Genesis Global Trading, the crypto brokerage firm’s co-head of sales and trading is also stepping down from his position. The development continues the latest trend of crypto company executives who have resigned from their positions. In a tweet thread on Wednesday (September 28, 2022), Matt...
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Singapore’s MAS Considers Tougher Crypto Regulations

The top financial watchdog of the Asian city-state – the Monetary Authority of Singapore (MAS) – reportedly intends to implement additional regulatory steps in the cryptocurrency industry to create maximum protection for investors. The agency might launch consumer suitability tests and cut the use of leverage and credit facilities by retail investors for trading digital...
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3AC Co-Founder Concerned About Facing Prison Time (Report)

Su Zhu – one of the Founders of the distressed crypto hedge fund Three Arrows Capital (3AC) – is reportedly worried about fronting severe law punishment. Specifically, the Singaporean said he, Kyle Davies, and other executives could face “fines and imprisonment” for being in charge of the troubled company. At the end of June, a...
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