3AC Founders’ Whereabouts “Currently Unknown”, Ghosted Zoom Calls

The physical location of the founders of the troubled Three Arrows Capital is “currently unknown,” according to court documents filed in New York.

The crypto hedge fund founders, Zhu Su and Kyle Davies, have “not yet begun to cooperate” with the representatives of the creditors. The duo are only being represented by a lawyer in Singapore.

Further, in an introductory Zoom call, while there are users named “Su Zhu” and “Kyle”, both accounts were turned off and muted the whole time.

Image

This is a complete turnaround from Zhu’s promise in his tweet that they are “fully committed” to sorting the insolvency issues.

Last week, 3AC filed a Chapter 15 bankruptcy to shield its US assets from lawsuits. According to the filing, the firm’s outstanding debt from Deribit trading accounts that triggered the liquidation now amounts to US$80.1 million, consisting of 2,319 bitcoin and 31,177 ether. 

Crypto exchanges 8 Blocks and Voyager Digital are among the casualties of 3AC defaulting on its debts. 8 Blocks CEO Danny Yuan claims that the hedge fund has become unresponsive after the firm saw that about US$1 million was missing from their accounts.

For its part, Voyager has also filed a Chapter 11 bankruptcy, hoping to implement a restructuring plan.

A court hearing on the liquidation of 3AC’s assets is scheduled for Tuesday.


Information for this briefing was found via Twitter and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Leave a Reply

Video Articles

Endeavour Mining Q1 Earnings: Cash Flow Is King

G Mining Oko West Feasibility: Move Fast, Break.. Nothing?

New Gold Q1 Earnings: What’s Behind The Market’s Surprising Reaction?

Recommended

First Majestic Posts Record Cash Flows In Q1 As Production Costs Fall

Brazil Potash Secures Funding In Support Of US$2.5 Billion Autozales Project

Related News

Voyager Digital Reveals $655 Million Exposure To Three Arrows Capital

It appears that Voyager Digital (TSX: VOYG) may be in trouble with respect to its...

Wednesday, June 22, 2022, 08:11:39 AM

Genesis Revealed With US$2.36 Billion Exposure To 3AC As Firm Goes Bankrupt

Following its assets being frozen by a New York court, the liquidation process of Three...

Monday, July 18, 2022, 03:38:00 PM

3AC Bankruptcy: Founder Zhu Su Among Liquidation Claimants With US$5 Million Loan

Can you lend your own money to your company? In what seems to be an...

Monday, July 18, 2022, 02:13:00 PM

Manhattan Court Freezes 3AC Assets

The remaining assets of the troubled Three Arrows Capital have been frozen by a New...

Wednesday, July 13, 2022, 04:47:00 PM

Voyager Digital: 3AC Defaults On Loans, Tens Of Millions Leave Company Coffers Via Withdrawals

As expected, Voyager Digital (TSX: VOYG) has been forced to issue a notice of default...

Monday, June 27, 2022, 02:16:00 PM