Three Arrows Capital Boss Su Zhu Files $5 Million Claim Against His Own Insolvent Crypto Hedge Fund

Three Arrows Capital Boss Su Zhu Files $5 Million Claim Against His Own Insolvent Crypto Hedge Fund

July 18, 2022

Summary:

  • Three Arrows Capital co-founder Su Zhu is supposedly among the 3AC creditors.
  • Zhu has filed a claim worth $5 million against the very same company that he founded alongside Kyle Davies, per reports.
  • The news was shared via Twitter by a user with the monicker “DrSoldmanGachs”.
  • DrSoldmanGachs also revealed a $25 million claim filed by ThreeAC Limited, the manager of the 3AC fund.
  • Other creditors include Avalanche and Voyager Digital to name a few.
  • The first 3AC liquidation meeting is scheduled to take place today as EthereumWorldNews reported.
  • It’s unclear if Su Zhu will be present at the meeting. 

Su Zhu, co-founder of insolvent crypto hedge fund Three Arrows supposedly filed a $5 million claim against the firm as the company faces liquidation following an order from a British Virgin Islands court. 

Zhu is allegedly one of the 3AC creditors, as revealed by a Twitter user called DrSoldmanGachs on Monday.

I’ve just seen the list of creditors to #3AC and noticed that @zhusu has filed a claim for $5 million. While being on the run, he has somehow found the time to diligently and ruthlessly fill out forms to pursue a claim against his own Fund. https://t.co/YFfWmYZOoM

The news received mixed reactions on social media as Zhu is notably unavailable at press time. According to the chapter 11 bankruptcy claim filed by Three Arrows Capital, the crypto hedge fund is unaware of Zhu’s whereabouts. Co-founder Kyle Davies is also reportedly MIA and cannot be reached, per reports.

DrSoldmanGachs’ tweet also revealed that ThreeAC limited filed a $25 million claim as a creditor. ThreeAC limited is the outfit tasked with managing 3AC’s crypto hedge fund.

Other creditors disclosed include Algorand, BlockFi, BitGo, Celsius, DeFiance Capital, and Voyager Digital to name a few. Three Arrows Capital owes Voyager over $650 million in USDC and Bitcoin, as EWN previously reported.

According to DrSoldmanGachs, the total value of all claims against Three Arrows Capital is worth $2.8 billion.

Three Arrows Capital Liquidation Meeting To Hold On Monday

Following the BVI court order, Teneo Restructuring assumed the lead role in 3AC’s liquidation. The firm has a meeting with creditors scheduled for today as EthereumWorldNews reported over the weekend. 

At press time, it is not clear if Su Zhu will attend the meeting physically. Sources say that the elusive crypto boss has not been seen since the collapse of Terra. 

Three Arrows Capital (#3AC) Creditors Meet On July 18 For The First Time https://t.co/9wlGcqGHQD

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