Zhu claimed that 'the potentially draconian consequences arising from the Liquidators' exercise of their wide powers' might send him and Davies to jail.
Zhu claimed that “the potentially draconian consequences arising from the Liquidators’ exercise of their wide powers” might send him and Davies to jail.
At the end of June, a court in the British Virgin Islands ordered 3AC into liquidation. Shortly after, numerous crypto firms confirmed exposure to the failed company, while its top executives Su Zhu and Kyle Davies were rumored to have fled Singapore., Zhu delivered his affidavit in person in Thailand several weeks ago. In it, he claimed he is concerned about “the potentially draconian consequences arising from the Liquidators’ exercise of their wide powers.
“We remain optimistic that such parties will provide access to complete records and all relevant information to enable us to discharge our responsibilities fully in the interests of the creditors of 3AC,” a company statement added.Su Zhu and Kyle Davies of being uncooperative despite the significant harm their company has caused to users.
Zhu believes the “nail in the coffin” for Three Arrows Capital was when bitcoin tumbled from over $30,000 to below $20,000. Contrary to the accusations against them, the executive said he and his partner did everything possible to prevent the catastrophe:
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