Who is Su Zhu & Kyle Davies?

Su Zhu and Kyle Davies turned 3AC into the most important hedge fund in crypto, but they bet everything on prices only going up. Days before Bitcoin fell decisively below $40,000, and two months before his hedge fund went bankrupt, Su Zhu sat down for an interview in the Bahamas, one shoeless foot tucked under his leg.

Does 3AC have a future?

To further complicate things, 3AC also housed two funds as sub-share classes: DeFiance Capital for DeFi investments and Starry Night Capital for digital art. DeFiance has external investors, and its founder has insisted it operates independently, but that structure has put its future in doubt.

What surprises you most about 3AC's collapse?

“What surprises me most about 3AC’s collapse was how they were able to amass so much leverage in the first place,” says Ryan Watkins, co-founder of crypto hedge fund Pangea Fund Management.

Is 3AC hiding from disgruntled investors?

In the letter, 3AC’s lawyers asked the liquidators at Teneo whether they mentioned in their July 8 filing to the U.S. Bankruptcy Court the “threats of physical violence” that the 3AC founders and their families were receiving. So 3AC may be hiding from disgruntled investors, but they’re no longer hiding from the public.