TechFlow news — According to Bloomberg, Three Arrows Capital (3AC) founders Zhu Su and Kyle Davies spoke from a secret location, stating that their crypto speculation triggered a cascade of margin calls on loans that should never have been issued. They acknowledged the ripple effects their collapse caused across the industry, but emphasized they themselves also suffered massive losses. They denied allegations that they withdrew funds from 3AC before its collapse, saying instead they injected even more personal capital.
Su Zhu responded to liquidators' claims about their disappearance, explaining they went into hiding due to death threats. The two declined to reveal their current whereabouts, though a lawyer on the call indicated their final destination is the United Arab Emirates.
Regarding public rumors of a "lavish" lifestyle, Zhu Su said: "The report that we paid a $50 million deposit for a yacht at the time of bankruptcy is false. That yacht was commissioned a year ago with fully documented funding. I ride my bike to work every day, and my family and I own only two homes in Singapore. Whenever something goes wrong, people love writing these kinds of stories."
