• Tue. May 28th, 2024

Three Arrows Capital Founders Disappeared due to Death Threats

Hassan Mehmood

ByHassan Mehmood

Jul 25, 2022

Three Arrow founders have been on the run from the public and media outlets for the better part of the last five weeks. The duo working as the brain power behind 3AC has recently decided to come out of the shadows and address the sudden collapse of the highly sought-after cryptocurrency hedge fund.

Kyle Davies and Su Zhu are two main characters who founded and managed the 3AC fund. The two founders recently reached out to the media under confidence and claimed that the fall of the cryptocurrency hedge fund was a result of the unwarranted speculative traffic that ended up in frequent margin calls. Furthermore, the founders also revealed that they had remained in hiding on account of the death threats.

3AC Founders’ Interview with Bloomberg

The historical collapse of the cryptocurrency hedge fund 3AC was the second big shock after the TerraUSD de-pegging incident. Davies and Zhu, who are two 35-year-old asset managers, were able to make 3AC one of the largest and most successful cryptocurrency hedge funds in the world. However, during the exclusive interview with the Bloomberg journalists, the two founders admitted that the fund issued problematic loans.

The biggest loss sustainers are the creditors who were acting as 3AC stakeholders, and some have already filed for bankruptcy. The crash of 3AC also triggered a massive selloff in the cryptocurrency market that resulted in Bitcoin investors dissolving their long-term positions in addition to other altcoin holders.

Talking to the journalists at Bloomberg, 3AC founders expressed their grief over the collapse and crash of the crypto hedge fund. However, the founders have decided to keep their current whereabouts unknown. They also claimed that the duo is planning to head towards UAE eventually and continue their cryptocurrency careers.

During the interview, the founders also shared a detailed purview of unlikely bets and poor management decisions that led to the blow-up. The companies such as Celsius, BlockFi, and Voyage Digital have opted for the bailout and dealing with the insolvency of the Three Arrow Capital hedge fund. Zhu also denied allegations about a $50 million advance payment for a private yacht claiming that these rumors are designed to misguide the investors.

Hassan Mehmood

Hassan Mehmood

Hassan Mehmood, a valued writer at Big Trends Signals, uses his profound online trading expertise to produce in-depth guides and unbiased reviews, enabling traders to navigate digital marketplaces efficiently.

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