Terra

Davies

Billion

Teneo

Dubai

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 <p>According to <a rel="noopener noreferrer nofollow" title="Three Arrows Capital" href="https://thebittimes.com/tag/three-arrows-capital.html">Three Arrows Capital</a>’s liquidator, Teneo, a British Virgin Islands court has frozen $1.14 billion worth of assets belonging to the founders.&nbsp;According to the court order, co-founders Su Zhu and Kyle Davies and Davies’ wife, Kelly Chen, cannot transfer or sell the assets.</p>
 <p>Teneo stated, “<strong>The worldwide freezing order has been sought in connection with claims that are being pursued by the liquidators that allege, amongst other things, that the founders should be held responsible for causing 3AC’s position to deteriorate by an amount that is equivalent to the value of the freezing orders sought.</strong>“</p>
 <p><a rel="noopener noreferrer nofollow" title="Three Arrows Capital" href="https://thebittimes.com/tag/three-arrows-capital.html">Three Arrows Capital</a> was one of the largest crypto hedge funds in the world. The firm imploded in 2022 after the collapse of Terra Luna.</p>
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 <h3 class="wp-block-heading" id="h-will-three-arrows-capital-reimburse-creditors">Will Three Arrows Capital Reimburse creditors?</h3>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="532" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" alt="Three Arrows Capital Allegedly Holds a $7.3M NFT Collection of Bored Apes, CryptoPunks, and Others" class="wp-image-42193 ewww_webp" sizes="(max-width: 1024px) 100vw, 1024px" data-src-img="https://cdn.thebittimes.com/images/2023/12/21/2a3f846c431d1fa6d53b376517d60322.webp" data-src-webp="https://cdn.thebittimes.com/images/2023/12/21/2a3f846c431d1fa6d53b376517d60322.webp.webp" data-srcset-webp="https://cdn.thebittimes.com/images/2023/12/21/2a3f846c431d1fa6d53b376517d60322.webp.webp 1024w, https://cdn.thebittimes.com/images/2023/12/21/2a3f846c431d1fa6d53b376517d60322.webp.webp 300w, https://cdn.thebittimes.com/images/2023/12/21/2a3f846c431d1fa6d53b376517d60322.webp.webp 768w, https://cdn.thebittimes.com/images/2023/12/21/2a3f846c431d1fa6d53b376517d60322.webp.webp 380w, https://cdn.thebittimes.com/images/2023/12/21/2a3f846c431d1fa6d53b376517d60322.webp.webp 550w, https://cdn.thebittimes.com/images/2023/12/21/2a3f846c431d1fa6d53b376517d60322.webp.webp 800w, https://cdn.thebittimes.com/images/2023/12/21/2a3f846c431d1fa6d53b376517d60322.webp.webp 1160w, https://cdn.thebittimes.com/images/2023/12/21/2a3f846c431d1fa6d53b376517d60322.webp 1200w" data-srcset-img="https://cdn.thebittimes.com/images/2023/12/21/2a3f846c431d1fa6d53b376517d60322.webp 1024w, https://cdn.thebittimes.com/images/2023/12/21/2a3f846c431d1fa6d53b376517d60322.webp 300w, https://cdn.thebittimes.com/images/2023/12/21/2a3f846c431d1fa6d53b376517d60322.webp 768w, https://cdn.thebittimes.com/images/2023/12/21/2a3f846c431d1fa6d53b376517d60322.webp 380w, https://cdn.thebittimes.com/images/2023/12/21/2a3f846c431d1fa6d53b376517d60322.webp 550w, https://cdn.thebittimes.com/images/2023/12/21/2a3f846c431d1fa6d53b376517d60322.webp 800w, https://cdn.thebittimes.com/images/2023/12/21/2a3f846c431d1fa6d53b376517d60322.webp 1160w, https://cdn.thebittimes.com/images/2023/12/21/2a3f846c431d1fa6d53b376517d60322.webp 1200w" data-eio="j">
  <noscript><img decoding="async" width="1024" height="532" src="https://cdn.thebittimes.com/images/2023/12/21/2a3f846c431d1fa6d53b376517d60322.webp" alt="Three Arrows Capital Allegedly Holds a $7.3M NFT Collection of Bored Apes, CryptoPunks, and Others" class="wp-image-42193" srcset="https://cdn.thebittimes.com/images/2023/12/21/2a3f846c431d1fa6d53b376517d60322.webp 1024w, https://cdn.thebittimes.com/images/2023/12/21/2a3f846c431d1fa6d53b376517d60322.webp 300w, https://cdn.thebittimes.com/images/2023/12/21/2a3f846c431d1fa6d53b376517d60322.webp 768w, https://cdn.thebittimes.com/images/2023/12/21/2a3f846c431d1fa6d53b376517d60322.webp 380w, https://cdn.thebittimes.com/images/2023/12/21/2a3f846c431d1fa6d53b376517d60322.webp 550w, https://cdn.thebittimes.com/images/2023/12/21/2a3f846c431d1fa6d53b376517d60322.webp 800w, https://cdn.thebittimes.com/images/2023/12/21/2a3f846c431d1fa6d53b376517d60322.webp 1160w, https://cdn.thebittimes.com/images/2023/12/21/2a3f846c431d1fa6d53b376517d60322.webp 1200w" sizes="(max-width: 1024px) 100vw, 1024px">
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 <p>The liquidator, Teneo, highlighted that the firm owes almost $3.3 billion to creditors. Teneo was appointed as a liquidator by a British Virgin Islands court. However, the firm alleged that the founders were not cooperative with the procedure.</p>
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 <p>According to Teneo, the court order comes a day after a domestic freezing order was issued by the Singapore Court. Zhu was arrested in September at Singapore’s Changi Airport while attempting to leave the country. Moreover, the country has banned both <a rel="noopener noreferrer nofollow" title="Three Arrows Capital" href="https://thebittimes.com/tag/three-arrows-capital.html">Three Arrows Capital</a> founders from conducting any regulated activity.&nbsp;</p>
 <p><strong>Also Read: <a rel="noopener noreferrer nofollow" title="Three Arrows Capital" href="https://thebittimes.com/tag/three-arrows-capital.html">Three Arrows Capital</a>: Su Zhu Grilled in Singapore Court</strong></p>
 <p>In August of this year, both founders were fined in Dubai ver their new digital-asset exchange,&nbsp;OPNX. According to Dubai’s Virtual Assets Regulatory Authority (VARA), the new company was issued a fine of $2.7 million in May.&nbsp;Zhu and Davies, along with Mark Lamb and Sudhu Arumugam, founded OPNX earlier this year. The founders presented it as a crypto trading platform. After the collapse of <a rel="noopener noreferrer nofollow" title="Three Arrows Capital" href="https://thebittimes.com/tag/three-arrows-capital.html">Three Arrows Capital</a> in 2022, the founders turned to Dubai as a key location.&nbsp;</p>
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  <li>Three Arrows Capital</li>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/three-arrows-capital-1-14-billion-of-founders-assets-frozen-tbt74369.html">https://thebittimes.com/three-arrows-capital-1-14-billion-of-founders-assets-frozen-tbt74369.html</a></p>

Three Arrows Capital: $1.14 Billion of Founders' Assets Frozen

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