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Three Arrows Capital Founders Served Subpoenas Over Twitter

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Thu, 5/01/2023 - 17:59
Three Arrows Capital Founders  Served Subpoenas Over Twitter
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The founders of Three Arrows Capital, a failed crypto hedge fund, recently received a subpoena from the United States Bankruptcy Court in the Southern District of New York.

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The subpoena, which was served by liquidators via the popular social media platform Twitter, targets founders Kyle Davies and Su Zhu.

They have been ordered to produce all documents in their possession (regardless of whether they are held by them directly or by a third party ) while also allowing an inspection of the premises at a designated date and time.

Three Arrows Capital declared bankruptcy in July, leaving many investors out of pocket.

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The repercussions of Three Arrows Capital going bust are still being felt throughout digital asset markets. Digital Currency Group, the parent company of Genesis Global Trading, filed a $1.2 billion claim against them after the lending arm of its subsidiary was forced to suspend new loan originations and redemptions back in November. 

The whereabouts of the controversial founders remain unknown despite the fact that they remain active on Twitter

A spokesperson for Teneo Consulting Group, which is in charge of 3AC's bankruptcy proceedings, noted that the founders had not been willing to provide assistance. 

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