Su Zhu
3AC subpoenas issued as dispute grows over claims of Terraform dump
A federal judge overseeing Three Arrows Capital’s (3AC’s) bankruptcy proceedings has signed an order approving subpoenas to be delivered to 3AC’s former leadership, including co-founders Su Zhu and Kyle Davies. The subpoenas require the founders to give up any “recorded information, including books, documents, records, and papers” in their custody that relates to the firm’s property or financial affairs. The infamous hedge fund, worth $10 billion at its peak, filed for Chapter 15 bankruptcy on Jul. 1 with its troubles tied up in too much leverage and the collapse of Terra Luna (LUNA), known now as Terra Classic (LUNC), and its algorithmic stablecoin formerly known as TerraUSD (UST). Since then, the liquidators — advisory firm Teneo — have been trying to hunt down the firm’s assets and pin ...
Three Arrows Capital fund moves over 300 NFTs to a new address
Starry Night Capital, a nonfungible-token (NFT)-focused fund launched by the co-founders of the now-bankrupt hedge fund Three Arrows Capital (3AC), has moved over 300 NFTs out of its address, according to reports. The Starry Night Capital was founded last year by Su Zhu and Kyle Davies, and pseudonymous NFT collector Vincent Van Dough. At the time, the fund planned to exclusively invest in “the most desired” NFTs on the market. Blockchain data provider Nansen on Oct. 4 on Twitter noted that the NFTs were reportedly shifted from a wallet associated with the fund, including “Pepe the Frog NFT Genesis,” which sold for 1,000 Ether (ETH) in October last year, worth $3.5 million at the time. Nansen said the NFTs previously collected by Starry Night Capital are...
