Founders of bankrupt crypto hedge fund 3AC go missing, as investors try to recoup assets
— Investors, Crypto, Recoup, Davies, Process, Liquidation, Arrows, Fund, Missing, Hedge — 1 min read
Three Arrows Capital co-founders Zhu Su and Kyle Davies are on the run from creditors, court documents say. The hedge fund managed about $10 billion in assets as recently as March. A hearing is scheduled for 9 a.m. ET on Tuesday to discuss next steps in the liquidation process. Three Arrows, also known as 3AC, filed for Chapter 15 bankruptcy protection from U.S. creditors in the Southern District of New York on July 1, after a plunge in cryptocurrencies and the collapse of the terraUSD (UST) stablecoin project wiped out its assets. The founders did not respond to requests for comment from the court. They have not yet begun to cooperate with the Liquidation process "in any meaningful manner," lawyers say. Source