3AC Founder Kyle Davies ‘not Sorry’ for Company’s Bankruptcy
Kyle Davies, co-founder of the hedge fund Three Arrows Capital, gave an extensive interview to journalist Laura Shin.
In a conversation with Shin, Davies explained how the Three Arrows Capital (3AC) bankruptcy case is progressing, discussed other problems with regulators in different countries, and revealed what he was doing after the fund’s collapse.
3AC’s Kyle Davies on Why He’s Crypto’s Lloyd Blankfein and Why He’s Not SorryFew crypto figures have been as vilified as @KyleLDavies, the co-founder, along with Su Zhu, of crypto hedge fund Three Arrows Capital, which imploded in mid-2022, losing $3 billion and bringing many… pic.twitter.com/F7NCozuPFB
— Laura Shin (@laurashin) March 19, 2024
When asked about the progress of the 3AC bankruptcy proceedings, Davies replied that he recently met with the liquidator Teneo, and now he regularly meets with the fund’s creditors.
“I do expect some sort of settlement at some point. In addition to that, a number of creditors just choose to participate.”
Kyle Davies, 3AC founder
Davies hinted that there would be positive statements from all sides when a settlement was reached. According to the 3AC co-founder, the media has simply been exaggerating what is happening around 3AC while the liquidator is trying to obtain the maximum benefit for this state.
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In addition to meeting with the liquidators, Davies noted that he continues to work in the crypto industry, believing he can still contribute despite Three Arrows Capital’s collapse. He said he is still young and learning and thought he could help the next 3AC avoid similar mistakes by sharing lessons from his experiences.
Davies also remained passionate about some of his ongoing ventures in areas like bankruptcy reform, seeking to continue positively contributing to crypto through these new projects.
