Kyle Davies, co-founder of the collapsed crypto hedge fund Three Arrows Capital (3AC), has openly stated that he does not regret the firm’s bankruptcy. During an appearance on the Unchained Podcast, Davies expressed no remorse for the company’s downfall, emphasizing the natural cycle of business failures and opportunities for learning and improvement. “Am I sorry for a company going bankrupt? No, like companies go bankrupt, almost every company goes bankrupt, right?” Davies remarked, highlighting his belief in resilience and the potential to offer value in the aftermath.<\/p>\n\n\n\n
Three Arrows Capital, founded by Davies and Su Zhu in 2012, faced significant losses during the mid-2022 crypto market crash, leading to insolvency proceedings across the British Virgin Islands, Singapore, and the U.S. Zhu’s arrest at Singapore’s airport in September 2023 for failing to assist in liquidating 3AC further complicated matters. He served a shortened four-month sentence due to good behavior, illustrating the legal challenges faced by the founders.<\/p>\n\n\n\n
Davies, having swapped his U.S. citizenship for Singaporean nationality, has avoided returning to Singapore, where he faces similar legal repercussions as Zhu. He argues that eventual settlements will resolve such issues, hinting at his current residence in Europe without confirming specifics. This evasion comes amid ongoing legal disputes, including a nine-year ban from Singapore’s regulated financial services industry and a global freeze on over $1 billion in assets by a British Virgin Islands court in December 2023.<\/p>\n\n\n\n
Despite these setbacks, the founders ventured into new territory by establishing OPNX, a bankruptcy claims exchange, in Dubai. The operation faced immediate regulatory challenges, leading to its shutdown in February 2024. Nonetheless, the crypto bull run saw the relaunch of their initiative under the $LAMB token, focusing on principles of sacrifice and servant leadership. This move signifies the founders’ relentless pursuit of innovation and redemption in the volatile crypto space.<\/p>\n","protected":false},"excerpt":{"rendered":"
Kyle Davies, co-founder of the collapsed crypto hedge fund Three Arrows Capital (3AC), has openly stated that he does not regret the firm’s bankruptcy. During an appearance on the Unchained Podcast, Davies expressed no remorse for the company’s downfall, emphasizing the natural cycle of business failures and opportunities for learning and improvement. “Am I sorry […]<\/p>\n","protected":false},"author":18,"featured_media":4645,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[43,18],"tags":[],"class_list":["post-4643","post","type-post","status-publish","format-standard","has-post-thumbnail","category-general-news","category-market-updates"],"acf":[],"yoast_head":"\n