Cryptocurrency, the hedge fund goes bankrupt and the founders have been on vacation (for months) in Bali – Corriere.it

News of the bankruptcy of cryptocurrency hedge fund Three Arrows Capital last August had spread around the world, only for $3.3 billion in debt and a domino effect on the world of virtual currencies. But with their company imploding, the co-founders, Kyle Davies and Su Zhou, left everything behind. They made so much money investing in cryptocurrency that they literally managed to escape to Bali, where they lived undisturbed and in great comfort all these months, he revealed. The New York Times.
When the process of winding up their cryptocurrency company began, both founders traveled to Indonesia – a country that does not have an extradition treaty with the United States – where Davis spends his time “painting in cafes and reading Hemingway on the beach”, meditating and even traveling: he has been seen in fact in Bahrain to attend a Formula 1 event. And he posted pictures of his travels on Twitter, where he stroked a tiger in a private zoo in Dubai, and another in which he admired the architecture from Southeast Asia to Malaysia.

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Instead, Zhu seems to have diligently devoted himself to video games, surfing, and beach walks. She added, “Mentally things got a lot better when I started going to the ocean, surfing, hiking, getting back into my gym routine, reading books, and learning new languages.” Then he returned to Singapore, his hometown, where he lives in a very luxurious villa worth $ 35 million.
Davis and Chu, colleagues at Columbia University, founded Three Arrows Capital, a $10 billion Singapore-based hedge fund that filed for bankruptcy last summer. The fund, also known as 3AC, was put into liquidation by a BVI court after prices collapsed and risky deals left it unable to repay creditors.

The new adventure

The company’s liquidators have complained that they have been unable to speak to the two founders, who haven’t even appeared in court, so much so that they had to send out a subpoena on Twitter last week, claiming their whereabouts remain unknown.
The fact that they are being investigated in both the US and Singapore didn’t seem to bother them, so much so that they excitedly told the Times about their new adventure. In fact, in April, Davies and Zhu launched the Open Exchange platform, where people who lost money in the cryptocurrency crash can buy and sell bankruptcy filings. Whatever this new venture might be, the couple told the Times they had enough savings to not have to work and reiterated that they did nothing wrong. The two stressed that no government agency has arrested them or taken legal action since the bankruptcy of Three Arrows Capital. Some of his former teammates have cursed him to the media, but he says he’s made new friends: surfers and UFC fighters. “They had a lot of sympathy and sympathy for me,” Zhou said.
Even if there was, to tell the truth, something they had to give up: the luxury yacht the two built. The two did not receive the builder’s last payment, according to the Times, and the boat was sold to another buyer.