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Three Arrow Capital's Zhu, Davies Subpoenaed in US Bankruptcy Case
A New York court wants information about the collapsed crypto hedge fund’s founders and investment managers.
A New York bankruptcy judge has agreed to issue subpoenas against the founders of Three Arrows Capital as liquidators seek to wind down the collapsed crypto fund.
“The foreign representatives and their agents are authorized to serve subpoenas for the production of documents and testimony upon the founders, the investment managers and anyone else that might have information about Three Arrows’ affairs," U.S. Bankruptcy Judge Martin Glenn for the Southern District of New York wrote in a court document published on Tuesday.
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The document names founders Su Zhu and Kyle Davies, as well as a number of other apparently related individuals and companies, including Starry Night Capital, the hedge fund’s non-fungible token (NFT) arm.
Liquidators for Three Arrows Capital have berated the founders for failing to cooperate with the bankruptcy probe, but last week confirmed they had seized $35.6 million from Singaporean bank accounts.
Lawyers for Zhu and Davies couldn't immediately be reached for comment.
Read more: The Four Horsemen of the Cryptocalypse
Jack Schickler
Jack Schickler was a CoinDesk reporter focused on crypto regulations, based in Brussels, Belgium. He previously wrote about financial regulation for news site MLex, before which he was a speechwriter and policy analyst at the European Commission and the U.K. Treasury. He doesn’t own any crypto.
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Crypto Industry Asks President Trump to Stop JPMorgan’s 'Punitive Tax' on Data Access
A coalition of fintech and crypto trade groups is urging the White House to defend open banking and stop JPMorgan from charging fees to access customer data.
What to know:
- Ten major fintech and crypto trade associations have urged President Trump to stop big banks from imposing fees that could hinder innovation and competition.
- JPMorgan's plan to charge for access to consumer banking data may debank millions and threaten the adoption of stablecoins and self-custody wallets.
- The CFPB's open banking rule, which mandates free consumer access to bank data, is under threat as banks have sued to block it, and the CFPB has requested its vacatur.
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