Three Arrows Founders Enjoying Lavish Lifestyle Despite Failed Crypto Fund


Ignoring the criticism, Mr. Zhu responded to an article from The Wall Street Journal by quoting John F. Kennedy: “We choose to go to the moon in this decade and do the other things not because they are easy, but because they are hard.” At dinner in Singapore, he proudly stated, “I’ve already created 75 jobs. At least these people like me.”

This month, Open Exchange released its own cryptocurrency, called OX, and its value rapidly increased. Kyle Davies, co-founder of Three Arrows Capital, posted on Twitter “I’m getting early 3AC vibes all over again. Nothing compares to the energy of a startup.” Privately, he has been motivating creditors to trade their bankruptcy claims on Open Exchange. In January, he invited them to a meeting on this topic.

During his stay in Barcelona, Kyle Davies enjoyed the “amazing cafes” on Las Ramblas and, on one Saturday evening, had a late dinner at Els Pescadors, ordering oysters, croquettes, local wine and three rounds of whiskey. By the end of the meal, he was already discussing new business ideas. He and Mr. Zhu even considered producing a film about Do Kwon and the collapse of Luna. The idea was to generate empathy for the story, and they intended to produce it at Sundance.

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