Here’s What Two Crypto Bros Are Doing a Year After Their Company Went Bankrupt
A year ago, the falling of a hedge fund caused panic in the world of crypto.
The bankruptcy of Three Arrows Capital, founded by Kyle Davies and Su Zhu, was significant as the pair were highly regarded in the industry for their trading knowledge and strong predictions, The New York Times reported. The duo’s popularity and influence allowed them to borrow hundreds of millions of dollars from the biggest firms, but their company’s collapse caused a ripple effect on the industry, depleting the savings of millions of amateur investors.
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That failure might cause a person to lose hope. Davies and Zhu, however, departed Singapore (where the company was based) and spent time in Bali. Zhu eventually returned to Singapore, where he lives in a $35 million luxury home, according to media reports. Meanwhile, Davies has gone sightseeing: He traveled to Thailand and admired architecture in Malaysia. He also went to a private zoo in Dubai, where he petted a tiger chained to a pole, and attended a Formula 1 event in Bahrain, according to The Times.
Some crypto entrepreneurs have been able to avoid serious financial losses from the market’s volatility, choosing to take their wealth out before hard times, invest in real estate, or put their money in tax havens. Although Davies and Zhu didn’t reveal the status of their current wealth, they did tell the paper that they didn’t need to work again.
The duo also said they did nothing wrong with their company and defended their actions by pointing out that no government agency arrested them or pursued legal action after Three Arrows Capital tanked. Some Zhu’s former colleagues have said bad things about him to the media, but he says he has made new friends: surfers and UFC fighters.
“They had a lot of empathy and sympathy for me,” Zhu said.
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