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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, stating that he intends to avoid jail time in any way possible. Kyle Davies is Not Sorry Recall that Three Arrows collapsed in mid-2022 amid the crypto...

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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 one of the largest investors in it. Worldcoin Investment Appreciates Following WLD Price Surge Three Arrows Capital was among the investors...

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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 Jersey Bankruptcy Court, in the Tuesday hearing, expressed that it doesn’t make sense to demand disclosure of...

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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. Run-In With Singaporean Authorities Although the pair have so far managed to escape significant punishment, they have nonetheless...

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Cryptocurrency Hedge Funds Gearing for Strong 2024 after Last Year’s Crypto Winter

While the average performance of crypto funds did not match the more than 150% rally in Bitcoin this year, the positive shift in fortunes is a promising development for the industry. After facing a strong crypto winter in 2022 following the collapse of Three Arrows Capital (3AC), crypto hedge funds are making a comeback. Crypto hedge funds demonstrated a notable recovery, posting an average return of 44% by December 20, bouncing back from a 52% loss in 2022, according to a Bloomberg index...

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Three Arrows Capital Founders See $1 Billion Asset Freeze

A court has frozen the assets of the Three Arrows Capital founders. The company owes $3.3 billion to creditors and filed for bankruptcy after the collapse of the Terra ecosystem last year. One of the most notable events in the crypto industry last year was the collapse of the Terra ecosystem. After Terra failed, many companies connected or exposed to it suffered losses as well. One of these was Three Arrows Capital which filed for bankruptcy in July 2022.  Now, about $1 billion in assets...

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Grayscale Joins Hands with FTSE Russell to Unveil Crypto Sector Index Series

The Crypto Sector Index Series will include several indices tracking the prices of a bucket of different digital assets based on their use cases.  The world’s largest digital assets manager Grayscale Investments continues to take steps in order to expand its footprint in the market. Also, the latest report shows that Grayscale is venturing into the crypto indices business in partnership with the London-based indices provider FTSE Russell, a London Stock Exchange subsidiary. Grayscale and...

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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 a discount, cutting the remaining link with the failed hedge fund and its creditors. WOO Network to Buy Back Shares From 3AC...

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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 apprehended at Changi Airport when trying to leave the city-state. Additional reports shed some more light on the matter, claiming...

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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. In an official statement on August 2nd, Mark Renzi – BlockFi’s Chief Restructuring Officer,...

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