OPNX launches Justice Tokens for Terra whistleblower victimsIn a surprising turn of events, the co-founders of Three Arrows Capital (3AC), Su Zhu and Kyle Davies, have resurfaced with a new venture capital fund named 3AC Ventures. This move comes after the bankruptcy filing of 3AC in June 2022, which was caused by a series of leveraged trades gone wrong and the collapse of the Terra Luna ecosystem.
The new fund aims to generate superior risk-adjusted returns without relying on leverage. Additionally, the duo has entered into a partnership with Open Exchange (OPNX), a platform for trading claims against bankrupt crypto entities, to invest in projects within the OPNX ecosystem and contribute to the decentralized future of finance.
3AC Ventures Emerges from the Ashes of Three Arrows Capital
After the downfall of Three Arrows Capital, Su Zhu and Kyle Davies have taken a bold step forward by launching 3AC Ventures. This new venture capital fund aims to prioritize superior risk-adjusted returns without relying on leverage, signaling a strategic shift from their previous investment approach. The founders, who could not be located following the bankruptcy filing, have resurfaced and expressed their commitment to the decentralized future of the crypto industry through this new venture.
Partnership with OPNX to Foster Innovation in the Crypto Ecosystem
In a recent announcement, Open Exchange (OPNX) unveiled its partnership with 3AC Ventures. OPNX, a platform facilitating the trading of claims against bankrupt crypto entities, recognized the potential of collaborating with 3AC Ventures to support projects within its ecosystem. The partnership is specifically focused on investing in initiatives that contribute to the decentralized future of finance. By combining resources and expertise, OPNX and 3AC Ventures aim to foster innovation and resilience within the crypto ecosystem.
The collaboration between OPNX and 3AC Ventures holds great promise for fostering innovation and resilience within the crypto ecosystem. By leveraging their combined resources and expertise, the partnership aims to support initiatives that contribute to the development of a decentralized future in the realm of finance and blockchain technology.
Rebuilding After Bankruptcy: A Rocky Path to Redemption
Following the bankruptcy filing of 3AC in June 2022, the firm faced significant challenges, including creditor claims amounting to $3.4 billion. Both Su Zhu and Kyle Davies seemed to have disappeared, with media reports suggesting their presence in Dubai and Indonesia. However, the recent launch of 3AC Ventures signifies a potential comeback for the co-founders.
While Davies faces legal action as 3AC liquidators filed a motion to hold him in contempt of court in the United States, Su Zhu’s Singaporean citizenship protects him from U.S. jurisdiction. Despite these obstacles, the duo remains resilient, driven by their vision for the future of decentralized finance.
Conclusion
The emergence of 3AC Ventures, the new venture capital fund founded by Su Zhu and Kyle Davies, marks a significant development following the bankruptcy of Three Arrows Capital. With a renewed focus on superior risk-adjusted returns without leverage, the founders are determined to rebuild their reputation and contribute to the decentralized future of the crypto industry. Through their partnership with OPNX, the duo aims to invest in projects within the OPNX ecosystem, fostering innovation and resilience in the evolving landscape of finance. While challenges persist, the launch of 3AC Ventures showcases the resilience and determination of Zhu and Davies as they embark on their journey to redemption.
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