Three Arrows Founder Says Attempt to Work With Liquidators Met With 'Baiting'

In a first tweet since the crypto hedge fund imploded, Three Arrows co-founder Su Zhu posted screenshots from legal counsel saying the fund's principals are willing to work with liquidators.

AccessTimeIconJul 12, 2022 at 10:54 a.m. UTC
Updated May 11, 2023 at 6:55 p.m. UTC

Three Arrows Capital co-founder Su Zhu broke his Twitter silence Tuesday by posting screenshots of an email sent from his legal counsel to legal representatives of Three Arrows's liquidators. He alleged the liquidators are "baiting" Zhu and co-founder Kyle Davies into providing evidence for court filings and ignoring their attempts to work with them in good faith.

  • In legal documents filed late Friday, lawyers for Three Arrows's liquidators said Zhu and Davies were not cooperating with the proceedings and their location is unknown.
  • Three Arrows's legal counsel, Christopher Daniel of Singapore's Advocatus Law, said his clients had faced threats of physical violence and a number of queries from the Monetary Authority of Singapore.
  • In the screenshot posted by Zhu, Daniel says Three Arrows has not been given copies of the court documents filed in New York Friday.
  • He also said the fund had compiled a list of assets and sent it to the liquidators. That was requested by the liquidators, who are set to ask a U.S. court to subpoena Zhu and Davies to provide the document.
  • A court hearing is scheduled for Tuesday morning at the U.S. Bankruptcy Court for the Southern District of New York.

UPDATE (July 12, 11:38 UTC): Updates third and fourth bullets with additional information.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.