Kyle Davis ‘no regrets’ for 3AC failure, plans to avoid jail

Kyle Davis, founder of defunct crypto hedge fund Three Arrows Capital (3AC), says he's not sorry for losing billions in investor funds and plans to avoid jail time as much as possible.

On a March 19 Uncovered podcast, Davis reiterated that he has no regrets about 3AC's failure and insisted that his professional reputation was intact despite the backlash for his past misdeeds on social media.

“Would I be sad that a company went bankrupt? No, companies go bankrupt all the time,” Davis said with a laugh.

“Maybe at the very least, we can tell them how to do things better for the next three arrows when it goes bankrupt,” Davis said when asked about his future plans.

Davis said he would try not to return to Singapore to avoid jail time, and when asked where he was, said, “I'm in Europe.”

He told New York magazine last month that he lives in Portugal.

In April 2023, Davis and Zhu announced the launch of OPNX, a hybrid bankruptcy claims platform and crypto exchange. In the podcast, Davis described the company's launch as “amazing” and asserted that he remains the most respected figure in the crypto industry.

On February 1, OPNX said it would cease all operations on February 14 and shut down completely.

Davis from Teneo – the firm responsible for investigating 3AC – said allegations that he and co-founder Su Zhou “didn't work together” were exaggerated.

Davies said it was “literally his job” to make the couple appear uncooperative in order to get more money.

In the year On January 5, 2023, Davis and Zhu were called out in a series of tweets for the couple's failure to contact relevant authorities and “fail to cooperate satisfactorily” with investigators at the time.

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On December 21, a British Virgin Islands court froze Davis and Zhu's assets worth $1.14 billion. Teneo in 2010 It is estimated that 3AC's creditors will still owe nearly $3.3 billion following the hedge fund's collapse in 2022.

Teneo 3AC is seeking $1.3 billion directly from Zhu and Davis after the bankruptcy, saying they took huge advantage of investor funds.

In September last year, Singapore's central bank issued a nine-year ban on Davies and Zhu for allegedly breaching the country's securities laws when operating 3AC.

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