3AC Co-Founder Kyle Davies Says He Won’t Apologize for Crypto Hedge Fund Going 'Bankrupt'
Summary
Kyle Davies, co-founder of Three Arrows Capital, expressed no remorse for the fund's bankruptcy, stating that it's a common occurrence. The fund faced heavy losses in the 2022 crypto market downturn, leading to insolvency proceedings in multiple countries. Davies renounced his U.S. citizenship and has not returned to Singapore to face a sentence. The founders set up OPNX in Dubai, which was reprimanded and later shut down. Despite this, OPNX seemingly relaunched as $LAMB during the current crypto market bull run. Singapore's central bank issued a nine-year ban against the founders, and a court order froze over $1 billion in their assets.
