In a recent episode of the Unchained Podcast, Kyle Davies, co-founder of defunct crypto hedge fund Three Arrows Capital (3AC), expressed his lack of remorse for the loss of billions in investor funds and his determination to avoid jail time.
Davies made it clear that he feels no remorse for the bankruptcy of 3AC, stating that companies go bankrupt all the time. Despite facing backlash on social media, he maintained that his professional reputation remains intact.
When asked about his plans, Davies hinted at staying away from Singapore to avoid potential legal consequences and claimed to be residing in Europe. He mentioned involvement with OPNX, a bankruptcy claims platform and crypto exchange, which he described as “very impressive.”
Davies dismissed allegations of non-cooperation with liquidators, attributing them to the liquidator’s efforts to recover more funds. He explained that a British Virgin Islands court froze $1.14 billion worth of his and Su Zhu’s assets, with creditors still owed roughly $3.3 billion.
Davies and Zhu faced subpoena via Twitter messages for allegedly avoiding communication with authorities and not cooperating with liquidators. Singapore’s central bank issued nine-year prohibition orders against them for alleged violations of securities laws.
Davies’ remarks underscore his defiance and lack of contrition regarding the collapse of 3AC. The ongoing legal battles and frozen assets suggest a tumultuous aftermath for the hedge fund and its founders.
Get $200 Free Bitcoins every hour! No Deposit No Credit Card required. Sign Up