⚡ Court Freezes Over $1Billion in Assets of 3AC Founders
posted 21 Dec 2023
The British Virgin Islands court has frozen assets worth nearly $1.14 billion belonging to the founders of the collapsed crypto hedge fund, Three Arrows Capital (3AC).
This extensive freeze targets not just the co-founders Su Zhu and Kyle Davies but also includes Davies' wife Kelly Chen.
The news comes from Teneo, the firm handling the fund's liquidation process. According to Teneo's estimations, the total debt owed to creditors stands at around $3.3 billion.
In addition, a court in Singapore has also issued a freezing order on assets within its national borders.
Three Arrows Capital filed for bankruptcy in June 2022, following the Terra collapse, a topic we've explored in detail in a separate article on our website.
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