Death Threats, Dubai, and Do Kwon: 3AC Founders Finally Speak Up
The tumultuous saga of Three Arrows Capital (3AC) continues to unfold. For the first time since filing for bankruptcy, the co-founders of the troubled hedge firm, Three Arrows Capital, have provided details regarding its premature downfall. In a bombshell Bloomberg interview, Su Zhu and Kyle Davies have broken their silence, addressing the factors that led to the firm's collapse and the aftermath, including alleged death threats.
Three Arrows Capital's Su Zhu and Kyle Davies have spoken out on their recent woes in a new Bloomberg interview. Their insights offer a glimpse into the inner workings and missteps that resulted in 3AC's devastating bankruptcy.
Where are Zhu and Davies? The Dubai Connection.
Although the present whereabouts of Zhu and Davies remain unknown, it was disclosed in the interview that they are currently on their way to Dubai. This revelation comes amidst speculation and rumors about their location and intentions. Are they seeking refuge? Are they preparing for future endeavors? The crypto community is watching closely. Adding fuel to the fire, allegations of death threats further complicate their situation.
The Downfall: Leveraged Trades and Market Miscalculations.
Zhu said 3AC collapsed because it placed leveraged trades with the expectation that the crypto market would pick up. This bold gamble, which ultimately failed, highlights the inherent risks within the volatile cryptocurrency market and the potential consequences of aggressive investment strategies.
Cooperation with Authorities: A Promise Amidst Uncertainty.
The 3AC executives said that they are cooperating with authorities and are actively working to resolve the outstanding issues surrounding the firm's bankruptcy. This pledge of cooperation comes as creditors and investors seek answers and accountability for the significant losses incurred. Furthermore, the involvement of Do Kwon, albeit indirectly, adds another layer of complexity to the already intricate narrative.
What's Next for Zhu and Davies?
Zhu and Davies said that they are planning to navigate the complex legal and financial landscape that lies ahead. Their journey to Dubai and their stated commitment to cooperating with authorities suggest a long and arduous path to resolution. The crypto world remains captivated by their story and the future of Three Arrows Capital.