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Few crypto figures have been as vilified as Kyle Davies, the co-founder, along with Su Zhu, of crypto hedge fund Three Arrows Capital, which imploded in mid-2022, losing $3 billion and bringing many pillars of the crypto industry down with it. Davies and Zhu have been accused of, among other things, lying about 3AC’s assets as the firm was imploding, trying to borrow money when the firm was insolvent, and seeking funding from the Mafia, all of which Davies denies.
But he remains unapologetic about 3AC’s demise, saying most, if not all, companies eventually go bankrupt, and that 3AC had a “pretty spectacular” ten-year run. He joined Unchained to explain why he and Su Zhu were ordered to prison in Singapore for non-compliance with the liquidation proceedings, Zhu’s “six weeks meditating” (in prison), where he’s living now, why he and Zhu went to Bali after the bankruptcy, his $25,000-a-month fee for consulting for crypto bankruptcy exchange OPNX, his and Zhu’s current work advising crypto derivatives platform OX.FUN, and what he wishes he would have done differently in terms of 3AC’s wind down.
Show highlights:
- Whether Kyle is cooperating with 3AC liquidator Teneo and his opinions of that firm
- His and 3AC co-founder Su Zhu’s prison sentences in Singapore
- Why Kyle says he didn’t know about the scheduled court date
- Why Dubai levied fines against him, according to Kyle
- Where he is living now
- Whether or not he made misrepresentations about 3AC’s assets to lenders before its implosion, traded when the firm was insolvent, and borrowed money from the mafia
- Why Kyle went to Bali after the bankruptcy
- His defense of his $25,000 a month fee for consulting for OPNX
- Why Kyle thinks his reputation post-3AC was still “huge” because all companies eventually go bankrupt
- Gamified derivatives platform OX.FUN, where he is an advisor
- His dreams of opening a cloud kitchen chicken restaurant
- Why he filed a lawsuit against Sixth Man Ventures’ Mike Dudas
- What he could have done differently at the time of 3AC’s collapse
- Why Kyle is not sorry 3AC went bankrupt
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Guest
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Kyle Davies, OX.FUN advisor and co-founder of Three Arrows Capital
Links
Su Zhu’s Arrest
3AC Founders’ Assets Frozen
3AC Ventures
Davies and Su’s Post Bankruptcy Lives
OPNX
OX.FUN
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