3AC liquidators files against Kyle Davies for ignoring Subpoena order 3AC liquidators files against Kyle Davies for ignoring Subpoena order
Davis failed to comply with the subpoena order despite maintaining an active presence on Twitter and attempting to raise $25 million for GTX.
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Updated: Aug. 2, 2023 at 4:21 pm UTC
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Three Arrows Capital (3AC) liquidators alleged that 3AC co-founder Kyle Davis has openly ignored the court’s subpoena order, however, a motion was filed to extend the deadline till March 16.
3AC liquidators had filed a subpoena against Davis openly via Twitter on Jan. 5. The court order mandated the 3AC co-founder to provide all documents that revealed all financial information about his bankrupt hedge fund before Jan. 26.
3AC liquidators said in a Jan. 7 court filing that Davis has intentionally refused to comply with the order despite maintaining an active presence on Twitter.
“He (Davis) is, without question, aware of the Subpoena-having been tagged in 41 replies and 64 retweets-and has, once again, chosen to ignore his duties to Three Arrows.”
In addition, Davis and his alley Shu Zhu were reportedly involved in a $25 million fundraising effort for their new crypto exchange-GTX.
Consequently, the 3AC liquidators have asked the US bankruptcy court to extend the subpoena deadline till March 16, to enable Davis fully turn in all required documents of the bankrupt hedge fund.
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Christian Nwobodo
Christian is a crypto-curious nerd who loves to investigate how protocols work under the hood. Christian is interested in DeFi protocol research, token economics, and on-chain analytics.
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Three Arrows Capital
Three Arrows Capital (3AC), a Singapore-based crypto hedge fund, collapsed due to poor risk management, recklessness in dealing with business partners and a significant portion of greed.
Kyle Davies is an entrepreneur and businessman based in Singapore who co-founded Three Arrows Capital (3AC), a bankrupt cryptocurrency hedge fund.