{"id":9101,"date":"2024-03-21T03:14:33","date_gmt":"2024-03-21T03:14:33","guid":{"rendered":"https:\/\/www.bitrabo.com\/discover\/no-apologies-3ac-co-founder-not-sorry-for-crypto-hedge-fund-bankruptcy\/"},"modified":"2024-03-21T03:14:33","modified_gmt":"2024-03-21T03:14:33","slug":"no-apologies-3ac-co-founder-not-sorry-for-crypto-hedge-fund-bankruptcy","status":"publish","type":"post","link":"https:\/\/www.bitrabo.com\/discover\/no-apologies-3ac-co-founder-not-sorry-for-crypto-hedge-fund-bankruptcy\/","title":{"rendered":"No Apologies: 3AC Co-Founder \u2018Not Sorry\u2019 For Crypto Hedge Fund Bankruptcy"},"content":{"rendered":"

Kyle Davies, the co-founder of the now-bankrupt Three Arrows Capital (3AC), recently joined the Unchained Podcast to discuss the crypto community\u2019s opinion of him, why he isn\u2019t sorry that the crypto hedge fund went bankrupt two years ago, and his prison sentence.<\/p>\n

<\/span>Where On Earth Is Kyle Davies?<\/span><\/h2>\n

In 2022, 3AC was one of the giants in the industry. The now-failed crypto hedge fund saw its collapse shortly after Terra\u2019s crash, which sent the whole crypto market into turmoil.<\/p>\n

Since then, Kyle Davies and Su Zhu, 3AC\u2019s founders, have faced legal repercussions and massive public scrutiny. Both founders were sentenced to four months of imprisonment after failing to cooperate with authorities in the 3AC\u2019s bankruptcy investigation.<\/p>\n

After Zhu\u2019s apprehension, Davies refused to turn himself in to Singaporean authorities, and he remained at large. In an interview<\/a> with Laura Shin for the Unchained Podcast, the co-founder shed some light on his decision to avoid the four-month sentence.<\/p>\n

According to Davies, Su Zhu\u2019s detention took both by surprise as allegedly neither of them knew about the missed court date that led to their sentencing. Their lawyer is seemingly at fault for not informing them of the court date.<\/p>\n

Moreover, Zhu\u2019s experience in prison was not what Davies expected it to be, as he took the time to \u201cmeditate and help others.\u201d Despite not being like \u201cin the movies,\u201d the fugitive co-founder doesn\u2019t plan to return to Singapore soon unless authorities \u201cremove the contempt.\u201d<\/p>\n

However, Davies is hopeful that a settlement can be reached with Singapore authorities:<\/p>\n

\n

I\u2019m not going to go back immediately. But obviously, these things just resolve at some point. There are settlements. These are common kinds of tactics. So, I\u2019ve learned where people try to pressure for this or pressure that settlement or whatever. But at the end of the day, all these things resolve.<\/p>\n<\/blockquote>\n

The 3AC\u2019s co-founder also believes that his entrance to the US shouldn\u2019t be a problem despite his resigning from his American citizenship. Nevertheless, Davies didn\u2019t disclose his current location beyond affirming that he was somewhere in Europe. He considers that giving his exact location \u201cwould be problematic.\u201d<\/p>\n

<\/span>No Apologies For The Crypto Community<\/span><\/h2>\n

During the interview, Shin asked about the crypto community\u2019s opinion regarding Davies\u2019s lack of visible \u201cremorse.\u201d The co-founder addressed his \u201creputation,\u201d refusing to apologize for the crypto hedge fund\u2019s collapse:<\/p>\n

\n

Am I sorry for a company going bankrupt? No, like companies go bankrupt, almost every company goes bankrupt, right?<\/p>\n<\/blockquote>\n

Davies stated that instead of focusing on the mistakes already made, what matters is \u201chow you build or what you do about it.\u201d He claims that most people who had something negative to say about him or 3AC\u2019s bankruptcy were \u201clargely people who are not affected.\u201d<\/p>\n

Nevertheless, Zhu and Davies could serve as an example and as advisors for the firms that face similar challenges that 3AC did, according to Davies:<\/p>\n

\n

We\u2019re definitely trying our best. We can add value in various ways. At a minimum, we can even tell the next Three Arrows how to do things better when they go bankrupt.<\/p>\n<\/blockquote>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Kyle Davies, the co-founder of the now-bankrupt Three Arrows Capital (3AC), recently joined the Unchained Podcast to discuss the crypto community\u2019s opinion of him, why he isn\u2019t sorry that the crypto hedge fund went bankrupt two years ago, and his prison sentence. Where On Earth Is Kyle Davies? In 2022, 3AC was one of the […]<\/p>\n","protected":false},"author":1,"featured_media":9102,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"slim_seo":{"title":"No Apologies: 3AC Co-Founder \u2018Not Sorry\u2019 For Crypto Hedge Fund Bankruptcy - Bitrabo","description":"Kyle Davies, the co-founder of the now-bankrupt Three Arrows Capital (3AC), recently joined the Unchained Podcast to discuss the crypto community\u2019s opinion of h"},"footnotes":""},"categories":[316],"tags":[2700,2699,1888,991,504,1189,1676],"class_list":["post-9101","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-3ac","tag-apologies","tag-bankruptcy","tag-cofounder","tag-crypto","tag-fund","tag-hedge"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/9101","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/comments?post=9101"}],"version-history":[{"count":0,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/9101\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media\/9102"}],"wp:attachment":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media?parent=9101"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/categories?post=9101"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/tags?post=9101"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}