Who owns three arrows capital?

Three Arrows Capital (also known as 3AC or TAC) was a Singapore -based cryptocurrency hedge fund which was ordered to liquidate on 27 June 2022 by a court in the British Virgin Islands. It was founded in 2012 by Kyle Davies and Su Zhu.

What is three arrows capital doing with cryptocurrencies?

Three Arrows Capital (3AC) had been deeply invested in a number of troubled cryptocurrency projects, including Terra, as well as Axie Infinity, a “play to earn” game that lost almost $700m (£577) to a hack from North Korea last year, and BlockFi, a centralised cryptocurrency exchange that laid off hundreds of staff in mid-June.

Why did three arrows capital fail in January 2022?

That’s where Three Arrows Capital found itself by the middle of January 2022, and it was poorly equipped to weather it. The GBTC position ate an ever-larger hole in 3AC’s balance sheet, and much of its capital was tied up in restricted shares in smaller crypto projects. Other arbitrage opportunities had dried up.

How did Zhu & Davies start three arrows capital?

In 2012, while both were temporarily living in San Francisco, Zhu and Davies pooled their savings and borrowed money from their parents to scrape together about $1 million in seed funds for Three Arrows Capital.