Cryptocurrency

3AC Co-Founder Alleges Liquidators Have ‘Baited’ the Firm

The same liquidators have been granted approval to issue subpoenas.

Cryptocurrency

3AC Co-Founder Alleges Liquidators Have ‘Baited’ the Firm

The same liquidators have been granted approval to issue subpoenas.

After nearly a month of media silence, Three Arrows Capital (3AC) Co-founder Zhu Su resurfaced with a tweet in which he accused liquidators of baiting the firm. Earlier this week it was rumored that he and other executives might be fleeing as a result of the firm’s $675 million USD implosion, which has sent ripples through the crypto space.

In the tweet, Su shared emails from the firm’s legal counsel that were sent to the legal representatives of 3AC’s liquidators. The emails accused the liquidators of baiting, stating that “contrary to your representations that you were seeking to engage our clients in good faith, and constructively, you had already prepared that application, and were in fact baiting our clients.”

The email alleged that Singapore solicitors were interested in learning whether some of 3ac’s pertinent discussions were held on a “without prejudice basis,” and that the questioning was so that the solicitors might use the discussions in court filings against 3AC without notification.

Su’s tweet comes nearly a month after what was considered to be the peak of 3AC’s implosion. Since then the firm has been ordered to liquidate its assets, and most recently its existing assets in United States jurisdiction have been frozen by New York State Judge Martin Glenn.

According to documents filed in the U.S. Bankruptcy Court for the Southern District of New York, lawyers representing 3AC’s liquidators said that the co-founders were not cooperating and that their whereabouts remain unknown — which has caused a massive amount of speculation in the crypto community.

Whether or not it is related to their locations being unknown, one of 3AC’s legal counselors, Christopher Daniel, has alleged that the co-founders have faced threats of physical violence and several requests for questioning from Singapore’s Monetary Authorities.

In other news, Twitter is suing Elon Musk after he backed out of his $44 billion USD acquisition deal.

You may also like

Three Arrows NFT Portfolio Highlighted by GALLERY in "The Unofficial 3AC Collection"
NFT

Three Arrows NFT Portfolio Highlighted by GALLERY in "The Unofficial 3AC Collection"

Featuring works like Chromie Squiggles, Ringers, and Fidenzas.
Crypto Hedge Fund 3AC Has Reportedly Been Ordered to Liquidate Its Assets
Cryptocurrency

Crypto Hedge Fund 3AC Has Reportedly Been Ordered to Liquidate Its Assets

After being issued a default notice by cryptocurrency platform Voyager Digital.
EXCLUSIVE: Webaverse Co-Founder Shares How Platform Will Play a Role in The "Open Metaverse"
Metaverse

EXCLUSIVE: Webaverse Co-Founder Shares How Platform Will Play a Role in The "Open Metaverse"

Affording users with “uncapped” possibilities of creativity that enable a world of open-source storytelling.
Robinhood’s $30M USD Regulatory Fine May Already Be a Lesson Learned
Cryptocurrency

Robinhood’s $30M USD Regulatory Fine May Already Be a Lesson Learned

Handed down by NY’s DFS as a result of cybersecurity and anti-money laundering violations.
More ▾