3AC


Finance

Hobbled Crypto Exchange's Creditors Are Suing Its CEO and Want to Claw Back Money From 'Bitcoin Jesus'

CoinFLEX CEO Mark Lamb breached his fiduciary duty when he created a new company, OPNX, with the founders of failed crypto hedge fund Three Arrows Capital, creditors argue. They are also critical of a deal Lamb struck with early BTC evangelist Roger Ver.

Kyle Davies (left) and Su Zhu (middle). (Kyle Davies/X)

Policy

BlockFi Bankruptcy Judge Says He Wants 3AC’s $284M Claim Resolved in Mediation

A bankruptcy judge rebuffed Three Arrows Capital’s request to lift a stay on its claim against BlockFi, setting a January mediation he hopes negates the need for a February hearing.

Publicidad de BlockFi en Union Station, Washington D. C. (Archivo de CoinDesk)

Policy

3AC Founders' OPNX Fined $2.7M by Dubai Crypto Regulator

The exchange co-founded by Kyle Davies, Su Zhu and Mark Lamb was formally reprimanded by the Virtual Assets Regulatory Authority (VARA) in May.

Kyle Davies (left) and Su Zhu (middle). (Kyle Davies/X)

Finance

Bankrupt Crypto Lender BlockFi Inches Closer to Refunding Clients

The firm receives conditional approval for its restructuring plan from a U.S. bankruptcy court.

Publicidad de BlockFi en Union Station, Washington D. C. (Archivo de CoinDesk)

Finance

Three Arrows Founders to Donate Future Earnings to Creditors in Spirit of 'Karma'

The hedge fund that filed for bankruptcy last year has been roasted by victims and crypto-industry observers in the wake of its epic collapse, but one partner, Kyle Davies, says "karma" motivates the founders to give back.

Kyle Davies (left) and Su Zhu (middle). (Kyle Davies/X)

Finance

Three Arrows Capital Liquidators Seek $1.3B From Bankrupt Hedge Fund's Founders: Bloomberg

The fund founded by Su Zhu and Kyle Davies suffered big losses on the collapse of the Terra ecosystem starting in May 2022 and took on additional leverage despite already being insolvent, the liquidators say.

Three Arrows (QuinceCreative/Pixabay)

Markets

3AC-Linked FLEX, OX Tokens Surge Despite Lack of New Holders

Less than 2,000 wallets hold OX tokens, a level that’s far below the average holders of tokens with similar market capitalizations.

(The Image Bank RF/Getty Images)

Finance

Bankrupt Hedge Fund 3AC's Return as a VC Stirring Up Crypto Community

3AC co-founder Kyle Davies told CoinDesk that the new entity aims to provide support for projects that are building for a decentralized future, but skeptics have recalled the original firm’s tainted past.

(Unsplash)

Videos

Sotheby's Auctions Dmitri Cherniak's 'The Goose' NFT for $6.2M

Generative artist Dmitri Cherniak's Ringers #879 non-fungible token (NFT) sold for a full price of $6.2 million on Thursday during a live auction at Sotheby's auction house in New York City that featured artworks seized from bankrupt crypto hedge fund Three Arrows Capital (3AC). Sotheby’s Head of Digital Art and NFTs Michael Bouhanna shares insights into the auction and how Sotheby's is moving into the digital art space.

CoinDesk placeholder image

Web3

Dmitri Cherniak's 'The Goose' NFT Sells at Sotheby's Auction for $6.2M

Sotheby's reported it was the second-highest sale of all time for a work of generative art.

Dmitri Cherniak, Ringers #879 (The Golden Goose)

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