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HomeCrypto NewsThree Arrows Founders Not Attending Today's NYC Hearing

Three Arrows Founders Not Attending Today’s NYC Hearing


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The founders of Three Arrows will not be present at today’s hearing in New York City

Su Zhu, a co-founder of Three Arrows Capital, allegedly accused the liquidators of Three Arrows of baiting Zhu and fellow co-founder Kyle Davies and rejecting their efforts to cooperate with them in good faith in an email that was posted on Twitter on Tuesday.

According to court filings that were only just submitted in New York, the co-founders of the defunct cryptocurrency hedge firm Three Arrows Capital seem to be on the run from their creditors.

Christopher Daniel of Singapore’s Advocatus Law, who is the legal counsel for Three Arrows, said that his clients had been subjected to threats of physical assault as well as a number of inquiries from the Monetary Authority of Singapore (MAS).

Daniel’s statement that Three Arrows has not been provided copies of the court records that were filed in New York on Friday can be seen in the screenshot that Zhu uploaded.

In addition to that, he said that the fund had created an inventory of its assets and delivered it to the people in charge of the liquidation. The liquidators asked for it, and they intend to approach a court in the United States to issue subpoenas to Zhu and Davies so that they may provide the document.

The collapse of 3AC has already had a significant effect on the cryptocurrency market as a whole due to the large number of institutions that had money invested with the company.

Digital asset brokerage After 3AC was unable to repay the approximately $670 million that it had borrowed from Voyager Digital, the latter filed for protection under Chapter 11 of the United States Bankruptcy Code.

Losses are also being suffered by crypto lenders located in the United States, such as Genesis and BlockFi, as well as the crypto derivatives platform BitMEX and the cryptocurrency exchange FTX.

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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.



Mark Brennan
Mark Brennanhttps://thecryptobasic.com/
Mark Brennan has been active in the cryptocurrency sector since 2014. His love and passion for the nascent industry drove him to develop interest in writing about important developments and updates about cryptocurrencies and blockchain. Brennan, who holds a Masters degree in Business Administration, learned about the potential of blockchain technology. Aside from crypto journalism, Brennan runs an education center, where he educates people about the asset class.

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