Three Arrows Capital Co-Founders Subpoenaed on Twitter
The Three Arrows Capital liquidators have subpoenaed the founders of the collapsed Singapore-based hedge fund on twitter.
Three Arrows Capital Co-Founders Su Zhu and Kyle Davies have been subpoenaed for information related to the downfall of their crypto hedge fund through Twitter. The Co-Founders were subpoenaed on Twitter after the liquidators were granted permission from Singapore authorities following a United States bankruptcy court order.
Zhu and Davies have recently been active on Twitter, often with critical comments about Digital Currency Group and the firm’s relationship with the now-bankrupt FTX exchange.
Davies’ frequent tweets partly prompted U.S. Bankruptcy Judge Martin Glenn to favour liquidators’ request to use social media to serve Davies the subpoena. However, the judge clarified that liquidators could not subpoena Zhu since he is not a U.S. citizen or resident.
The blowup of Three Arrows shook the crypto industry last year and put the interconnected nature of the sector on display. Its creditors include Digital Currency Group, the parent company of crypto brokerage Genesis, which filed a $1.2 billion claim against the hedge fund.
Advisers working to liquidate the fund tagged Zhu and Davies in Tweets demanding the production of sensitive documents. The tweet is necessary because nobody knows where the Co-founders are hiding, and they are not fully cooperating with 3AC’s bankruptcy case.
Liquidators seek access to account information, seed phrases and private keys for 3AC’s digital and fiat assets. Kyle Davies and Zu Shu have until the 26th of January to disclose all court ordered documents.
Subscribe to the Crypto News newsletter
Leave your email below and get more info like this:
Disclaimer: Nothing on this site should be construed as a financial investment recommendation. It’s important to understand that investing is a high-risk activity. Investments expose money to potential loss.