Three Arrows Capital liquidators are seeking to recover $1.3 billion from co-founders Su Zhu and Kyle Davies, who are accused of incurring significant losses leading up to the firm’s collapse. The liquidators claim that the co-founders are not cooperating with the investigation. Despite the hedge fund’s downfall, Zhu and Davies have launched a new venture capital (VC) fund called 3AC Ventures, partnering with Open Exchange (OPNX), a platform for trading claims against bankrupt crypto firms. OPNX boasts 20 million users with $20 billion in claims. Additionally, Sotheby’s recently sold 3AC non-fungible tokens (NFTs) for $10.9 million, with growing interest in digital art and NFTs.
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