The founders of Three Arrows Capital (3AC), which went bankrupt amid the crisis in the altcoin market, are missing. The whereabouts of founding names Su Zhu and Kaylie Davies are currently unknown.
Three Arrows Capital founders missing
The cryptocurrency-focused hedge fund, which was adversely affected by the current state of the market, went bankrupt earlier this month. This claim is confirmed by both Bloomberg and CNBC. Last week, representatives took the bankruptcy document to a court in the Southern District of New York. The cryptocurrency hedge fund’s troubles did not end with its filing for bankruptcy as the court ordered the liquidation of 3AC. This application was made while 3AC received a notice of default from Voyager Digital for failing to repay its 350 million USDC loan and 15,250 Bitcoin (BTC) loan.
While the legal process continues, there is no news from the founding names Su Zhu and Kaylie Davies. With 3AC’s founders leaving Singapore, investors’ suspicions that 3AC is a fraudulent organization have increased. So, to emphasize this point, it’s worth noting that 3AC manages roughly $10 billion in assets. In particular, some in the industry see the recent bankruptcy case as an escape strategy cover.
Su Zhu put his house up for sale
It was in the news that 3AC’s founder, Zhu, recently put his house up for sale. It is known that Zhu’s wife also owns a mansion in Singapore that she bought in 2021 for 35 million dollars. According to Singapore media, the couple also owns property worth around $3 million. Additionally, it is known that Zhu owns a super luxury yacht. It is even alleged that he borrowed $50 million to buy it but did not repay it. Zhu is allegedly constantly showcasing his yacht to impress his friends, and they hope will be potential future investors in the business.
The company has these 16 altcoins in its basket
As quoted by Kriptokoin.com, Voyager Digital announced earlier this week that Three Arrows Capital had received a notice of default. The loan amount includes around $660 million worth of 15,250 Bitcoins and $350 million USDC. According to the report, liquidation will be critical for the altcoin market. It is known that the company has 16 altcoins in its portfolio. Finally, according to Messari data, the names of these cryptocurrencies were: KeeperDAO (ROOK), mStable Governance Token (MTA), dHEDGE (DHT), Kyber Network (KNC), Polkadot (DOT), Uniswap (UNI), Aave (AAVE) , Compound (COMP), Hxro (HXRO), Perpetual Protocol (PERP), DODO (DODO), Synthetix Network (SNX), yearn.finance (YFI), Balancer (BAL), WOO Network (WOO),
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