Davies

Teneo

A British Virgin Islands court has frozen over $1 billion in assets belonging to the founders of <a href="https://optimisus.com/news/3ac-founder-subpoenaed-over-social-media-activity-after-bankruptcy/" rel="noopener noreferrer nofollow">Three Arrows Capital</a> (3AC), a prominent crypto hedge fund. Teneo, the company in charge of overseeing 3AC's closure, has confirmed this move.  
According to Teneo, the founders, Su Zhu, Kyle Davies, and Davies' wife, Kelly Chen, are now unable to access or transfer their substantial assets. This action comes amid 3AC's financial difficulties, with creditors owed an estimated $3.3 billion.  
Teneo claims that the founders contributed to <a href="https://optimisus.com/market/3ac-co-founder-claims-dcg-and-ftx-conspired-to-attack-luna-and-steth/" rel="noopener noreferrer nofollow">3AC</a>'s financial difficulties, prompting the court to freeze their assets. Su Zhu was arrested at Singapore's airport after Singapore authorities issued a domestic freezing order against him.  
As a result, both Zhu and Davies were barred from engaging in financial transactions in Singapore.  
<a href="https://optimisus.com/news/over-300-nfts-are-relocated-to-a-new-location-by-the-three-arrows-capital-3ac/" rel="noopener noreferrer nofollow">Three Arrows Capital</a>, once a leading crypto fund, experienced a downturn in 2022 as a result of poor investments and the broader market crash caused by the Terraform Labs collapse.  
3AC, which was originally headquartered in Singapore, declared bankruptcy in the British Virgin Islands, where Teneo accused the founders of refusing to cooperate.  
Zhu and Davies, once celebrated figures in the crypto world, are now dealing with a tarnished reputation as a result of risky financial practices.  
A Singapore court recently interrogated Zhu, and discussions about his possible release are ongoing. The situation highlights the difficulties that crypto funds face when navigating volatile markets, as well as the potential legal ramifications for their founders. 
The post <a href="https://optimisus.com/news/crypto-news/1-billion-frozen-from-3ac-founders-by-the-court/" rel="noopener noreferrer nofollow">$1 billion frozen from 3AC founders by the court</a> appeared first on <a href="https://optimisus.com" rel="noopener noreferrer nofollow">Optimisus</a>.

$1 billion frozen from 3AC founders by the court

Optimisus

2023년 12월 21일에 게재된 다른 기사

GTA 6 Shiba Inu: Petition To Make SHIB a Legal Currency Fails

Better Market CEO Points to Crypto Market Abuses as Reasons for FDIC Rule Amendment

Analyst Forecasts $83,000 Bitcoin (BTC) Price by 2025; Monero (XMR) and RebelSatoshi ($RBLZ) Prep...

Recent Surge in BONK Coin Amidst Crypto Market Fluctuations

Shiba Inu burn rate spikes 4,144% as token retains $0.00001 support

The Key Elements of Tokenomics in Crypto Projects

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!