The recent downfall of Three Arrows Capital has had lasting repercussions, prompting a digital-asset market downturn of staggering proportions. The Kyle Davies and Su Zhu, the co-founders of the cryptocurrency hedge fund, have found themselves in a trying legal battle. A committal order was found to seize their assets, totaling a staggering $1.3 billion. This was followed by their detainment by the police in Changi Prison.
The conditions within the prison are daunting for Zhu and Davies, involving cramped quarters inhabited four prisoners at a time, with straw mats representing beds. However a well-off future for the co-founder remains a possibility. Zhu managed to purchase a secluded two-story mansion in Yarwood in 2021 for an even $36 million.
The ultimate goal of the liquidators’ investigation is to identify and catalogue any suspicious activity in order to prevent it’s recurrence. While Davies and Zhu have not yet been charged criminally, they been accused of failing to fulfill the intentions of the liquidators. This could lead to greater charges for the directors. Whatever the result – this scandal speaks for itself..
