Three Arrow Capital's Zhu, Davies Subpoenaed in US Bankruptcy Case

A New York court wants information about the collapsed crypto hedge fund’s founders and investment managers.

AccessTimeIconDec 7, 2022 at 11:52 a.m. UTC
Updated Dec 7, 2022 at 11:12 p.m. UTC

A New York bankruptcy judge has agreed to issue subpoenas against the founders of Three Arrows Capital as liquidators seek to wind down the collapsed crypto fund.

“The foreign representatives and their agents are authorized to serve subpoenas for the production of documents and testimony upon the founders, the investment managers and anyone else that might have information about Three Arrows’ affairs," U.S. Bankruptcy Judge Martin Glenn for the Southern District of New York wrote in a court document published on Tuesday.

The document names founders Su Zhu and Kyle Davies, as well as a number of other apparently related individuals and companies, including Starry Night Capital, the hedge fund’s non-fungible token (NFT) arm.

Liquidators for Three Arrows Capital have berated the founders for failing to cooperate with the bankruptcy probe, but last week confirmed they had seized $35.6 million from Singaporean bank accounts.

Lawyers for Zhu and Davies couldn't immediately be reached for comment.


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.

Jack Schickler

Jack Schickler was a CoinDesk reporter focused on crypto regulations, based in Brussels, Belgium. He doesn’t own any crypto.