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3AC Founder Kyle Davies Refuses to Apologize for Bankruptcy
LayerZero CEO Reveals 3AC’s Pre-Bankruptcy Investment Temptation
Kyle Davies, co-founder of Three Arrows Capital (3AC), recently refused to express any remorse for 3AC’s bankruptcy on the podcast program Unchained. He even firmly stated that he has no intention of apologizing to anyone for this matter. On the program, Kyle Davies said:
“Would I feel sorry for a bankrupt company? Almost every company could go bankrupt, right? It depends on how you build it or what you do. We will certainly do our best, and we can add value in various ways. At least we can even tell the next 3AC how to do better when bankrupt.”
Furthermore, Kyle Davies posted on X yesterday, stating that he is a devout cryptocurrency bull. He believes that if lenders choose to put their low-risk customer funds into high-risk subjects, they should take responsibility for their choices instead of blaming others afterwards.
After 3AC’s bankruptcy, both co-founders have been unwilling to cooperate with the company’s bankruptcy proceedings. Zhu Su was arrested in Singapore in September last year, while Kyle Davies has been avoiding returning to Singapore to evade legal responsibilities. Many creditors find it difficult to accept Kyle Davies’ recent series of statements. Bryan Pellegrino, CEO of LayerZero, even revealed last night that a few days before the collapse of 3AC, Kyle Davies attempted to persuade LayerZero to allocate the entire treasury of the project to the hedge fund. However, 3AC was already insolvent when the proposed transaction was made.
Bryan Pellegrino stated on X:
In addition, Bryan Pellegrino also named Arthur Hayes, the co-founder of BitMEX, as another victim who was exploited before the collapse of 3AC.
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