Crypto Biz: the founders of 3AC are nowhere to be found
Liquidators don't know the whereabouts of Kyle Davies and Su Zhu. Meanwhile, Grayscale's chief legal officer said the asset manager's lawsuit against the SEC could take some time to unfold.
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In the world of crypto, there is no "too big to fail". Three Arrows Capital, once the industry's most recognizable hedge fund, essentially went bankrupt after its founders believed their own hype and decided to go full-degen mode during the worst macro climate in a generation. . Since the proverbial shit hit the fan last month, founders Kyle Davies and Su Zhu have kept a very low profile. So low, in fact, that their whereabouts remain a mystery, according to court documents.
This week's Crypto Biz chronicles the latest developments regarding Three Arrows Capital and explores Grayscale's lawsuit against the United States Securities and Exchange Commission (SEC).
Liquidators can subpoena 3AC founders despite 'tricky issues' with crypto assetsWe may not know the whereabouts of Kyle Davies or Su Zhu, but that won't stop the liquidators from subpoenaing the founders of bankrupt Three Arrows Capital, also known as 3AC. Earlier this week, US Bankruptcy Judge Martin Glenn issued an order allowing 3AC's liquidators to require the founders to appear in court. Apparently, Zhu and Davies didn't cooperate with their liquidators. Zhu broke his nearly month-long silence this week by alleging that liquidators had "baited" his business. Whatever that means.
Unfortunately, our good faith in cooperating with the liquidators was met with bait. I hope they acted in good faith with StarkWare token warrants. pic.twitter.com/CF73xI8r6n
— Zhu Su (@zhusu) July 12, 2022 Grayscale Lawyer Says Bitcoin ETF Litigation Could Take Two YearsGrayscale's Quest for a Bitcoin (
Liquidators don't know the whereabouts of Kyle Davies and Su Zhu. Meanwhile, Grayscale's chief legal officer said the asset manager's lawsuit against the SEC could take some time to unfold.
New
In the world of crypto, there is no "too big to fail". Three Arrows Capital, once the industry's most recognizable hedge fund, essentially went bankrupt after its founders believed their own hype and decided to go full-degen mode during the worst macro climate in a generation. . Since the proverbial shit hit the fan last month, founders Kyle Davies and Su Zhu have kept a very low profile. So low, in fact, that their whereabouts remain a mystery, according to court documents.
This week's Crypto Biz chronicles the latest developments regarding Three Arrows Capital and explores Grayscale's lawsuit against the United States Securities and Exchange Commission (SEC).
Liquidators can subpoena 3AC founders despite 'tricky issues' with crypto assetsWe may not know the whereabouts of Kyle Davies or Su Zhu, but that won't stop the liquidators from subpoenaing the founders of bankrupt Three Arrows Capital, also known as 3AC. Earlier this week, US Bankruptcy Judge Martin Glenn issued an order allowing 3AC's liquidators to require the founders to appear in court. Apparently, Zhu and Davies didn't cooperate with their liquidators. Zhu broke his nearly month-long silence this week by alleging that liquidators had "baited" his business. Whatever that means.
Unfortunately, our good faith in cooperating with the liquidators was met with bait. I hope they acted in good faith with StarkWare token warrants. pic.twitter.com/CF73xI8r6n
— Zhu Su (@zhusu) July 12, 2022 Grayscale Lawyer Says Bitcoin ETF Litigation Could Take Two YearsGrayscale's Quest for a Bitcoin (
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