This development has been verified by Teneo, the fund’s liquidator to Bloomberg.
The disclosure follows a domestic freezing order granted by the Singapore Court.
The founders of the crypto hedge fund Three Arrows Capital (3AC) have had assets worth about $1 billion frozen by a court in the British Virgin Islands. This development has been verified by Teneo, the fund’s liquidator to Bloomberg.
According to an email from liquidator Teneo, the court has granted an order prohibiting co-founders Su Zhu and Kyle Davies, together with Davies’ wife Kelly Chen, from selling or transferring assets worth up to $1.14 billion. Creditors are due almost $3.3 billion, according to the liquidator.
Teneo stated:
“The worldwide freezing order has been sought in connection with claims that are being pursued by the liquidators that allege, amongst other things, that the founders should be held responsible for causing 3AC’s position to deteriorate by an amount that is equivalent to the value of th
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