Kyle Davies, co-founder of hedge fund Three Arrows Capital, gave an extensive interview to journalist Laura Shin.
In his conversation with Shin, Davis explained how the Three Arrow Capital (3AC) bankruptcy case is progressing, discussed other issues with regulators in each country, and revealed what the fund is doing after its collapse.
When asked about the progress of 3AC’s insolvency proceedings, Davis said he had recently met with liquidator Teneo and was currently meeting regularly with the fund’s creditors.
“I hope that someday some agreement will be reached. “In addition, a number of creditors are choosing to participate,” he said.
3AC Founder Kyle Davis
Davis hinted that there would be positive feedback from all sides if an agreement were reached. According to the 3AC co-founder, the media has simply been exaggerating what is happening around 3AC while the liquidators are trying to get the most out of this situation.
In addition to meeting with the liquidator, Davies noted that he continues to work in the cryptocurrency industry despite the collapse of Three Arrows Capital, believing he can still contribute. He is still young and learning, and he thought that by sharing the lessons he learned from his experience, he could help the next 3AC avoid similar mistakes.
Davis is also passionate about some of the ventures underway in areas such as bankruptcy reform, and has sought to continue making positive contributions to cryptocurrency through these new projects.
“Are you sorry that the company went bankrupt? No, if a company goes bankrupt, almost all companies go bankrupt, right? It’s about how it weighs, what you do with it, what and how you want to make it, and what you do with it. right? And we are doing our best.”
3AC Founder Kyle Davis
Singapore-registered cryptocurrency hedge fund 3AC filed for bankruptcy in July 2022 after failing to meet creditors’ demands amid a massive market downturn. In 2021, the fund had $10 billion in assets under management, and by April 2022, that amount had fallen to $3 billion and continued to decline until it declared bankruptcy.