Kyle Davies is a co-founder of Three Arrows Capital (3AC), a hedge fund that was once one of the largest in the crypto space. The fund collapsed in 2022 after the Terra ecosystem crash, which led to significant financial losses. Following the collapse, Davies and his co-founder, Su Zhu, faced a complicated bankruptcy process involving legal proceedings in multiple jurisdictions, including the U.S., Singapore, and the British Virgin Islands.
Davies and Zhu have been elusive since the collapse, but they have remained active on social media. They had also been involved in plans to launch a new crypto exchange named OPNX, which aimed to create a "shadow recovery process" to help creditors of 3AC recover some of their lost funds. It shut down in February 2024.
More recently, there have been allegations against Davies from Bryan Pellegrino, CEO of LayerZero, who claimed that Davies attempted to convince LayerZero to allocate its entire treasury to 3AC just before its collapse.
